A professional must write the deed of sale after the purchase of the stamp paper. The following staff may prepare the sales file: unless, at the time of marriage registration, no research fee is levied for the issuance of a certified copy of a Hindu marriage register, no research fee is levied upon request. In early 2020, the coronavirus pandemic and the resulting blockage were broken into. However, as of August 2020, sales have recovered, reflecting the revenue generated by real estate listings in August, which amounted to 793 affr. Sources also indicate that another 17,000 registrations were registered this year in August, compared to the same period in 2019. ”It has been clarified that even for the first sale of an apartment, the undivided share and the apartment can be registered separately,” he said, adding that this has paralyzed any confusion in the case. The registration or transfer of real estate in Tamilnadu is managed by the registration department in accordance with the Tamilnadu Registration Act. In this article, we examine Tamilnadu`s fees and procedures for registering real estate in detail. It is very important to choose a professional with great experience to buy real estate to ensure that there are no defects in the sales activity.
Before negotiating the price of the land and/or entering into a real estate purchase agreement, the buyer must first carry out a thorough diligence of the property to be acquired. Since real estate laws and procedures are complex, it is best to hire a qualified real estate transaction lawyer in the relevant area to ensure the smooth running of the process. (Learn more about the procedure for obtaining load certificates in Tamilnadu and the checklist for the purchase of real estate). Suresh Krishn, president-elect of the Confederation of Real Estate Developers` Association of India (Credai), told Moneycontrol that this was just a clarification. Tamil Nadu follows a dual convention system, since both land and buildings are registered separately from the concession agreement. On May 11, the Inspector General of Registration adopted a decision stating that ”when a document is submitted only for the registration of a (first) sale of an undivided title, the filers are advised not to require the registration of the building in the subject of the sale document or to insist simply because the certificate of completion was issued by the competent authority of the project.” The move follows in the wake of a few under-registration points that require the registration of the built-up area with the country`s UDS, which causes great distress, psychological torment, in addition to the fact that the Allottees entail huge and unnecessary costs for the registration of built land that is not authorized by law. ”For the building where the certificate of completion was obtained, the sub-registries insist that the deed of transport or the certificate of sale of UDS in the land also includes the sale of built-up land. The closing deed has nothing to do with the title of the land. According to consistent jurisprudence, it is stipulated that what is transmitted only for registration purposes should be taken into account by citing the judgments rendered in the bench of the Department of the High Court of Madras,” the letter states and for clarification. However, it is also stated that there are no barriers to the registration of a separate construction contract, as provided for in the circular of 28 October 2013.
In May 2020, TN`s registration service clarified that new and ready-to-use housing and buildings will not have to pay stamp duty and registration fees. This applied only to the first sale of the land and only the undivided share of the land (UDS) would be subject to stamp duty and registration fees, not to the super-built area. Stamp duty must be paid on all documents registered in India under the Registration Act.