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Gurgaon News  | Gurgaon Blogs  |  Gurgaon Article

The Importance of Property Registration
17/06/2014
Recorded the information of a property document with a Registering officer is known as the property registration. People has to understand that in any kind of immovable property deal, stamping and registration are two most important things that need to be done. It is done for a purpose of protection of evidence, declaration of title and prevention of fraud. As per the Registration Act, 1908, it is important that transactions of immovable property must be filed properly and legally under the scanner of law. After the registration, the immovable property becomes complete public evidence. That’s why; the importance of property registration is quite high looking at the soaring numbers of fraud cases.

Although, people will find that provisions of this Act almost similar throughout the country, but still there are some States where you may find few amendments. If one notice State by State, then find that registration fee may differ due to its land policies. There are some important points the need to be looked carefully such as:
• Rationale: Considered as a public record, registration allows people to obtain complete and proper information of any immovable property such as – title of the ownership. The procedure of immovable property helps to prevent people from any kind of fraud. Another benefit of having property registration is that if you lose your property documents then you can obtain a certified true copy of the same from the registrar.

• Compulsory vis-a-vis optional registration: There are some immovable property documents that need compulsory registration that includes include- sale deed, exchange deed, partition deed and gift deed. To prevent your property from any kind of risk, it is highly essential to have compulsory registration under the eyes of law. One must not be confused with stamping and registration of documents as they are two separate aspects governed by distinct acts. There are some documents that need to have stamp of Indian Stamp Act, 1899. Recently Government of India has invited suggestions and comments with the Registration (Amendment) Bill, 2013 for making vital and extensive changes in the present Act.

• Time of registration: It is important to understand that registration of a document must be done within four months of its implementation. After this time period, registration can be done only on the case case-to-case basis with a prescribed fine. For the later, one has to submit an application with sub-registrar’s office.

• Place of registration: It is highly important to register a property document in the office of the sub-registrar having jurisdiction the property cell. If your property is located across two or more sub-districts, then you can go to the sub-registrar’s office of either sub-district to register the same. However, if it is more than one immovable property, then you can go either sub-district to register the document.

Source :www.gurgaonproperties.net






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