Sale Deed Registration in Pune

Introduction

Overview

Getting a sale deed in Pune – an active city in central Maharashtra, is extremely tedious, complicated and involves interweaving of legal intricacies with administrative formalities. The stage of obtaining a sale deed is essential in the real estate business since Pune, with its rich culture, growing IT sector, and historical relevance, witnesses lots of property transactions.

To embark on this enterprise, one has to follow a set of steps which are both statutory and judicial rules. To ensure a smooth transaction, the person intending to purchase must then look for a property of interest, after which he needs to scrutinize both its legal and physical aspects. Contacting a reliable real estate broker or attorney at this early stage will be quite beneficial.

Once the property is authorized and the terms of purchase are accepted by the seller, the actions progress to the drafting stage of the sale deed. Beneath that, the key legal document that records the rights, responsibilities, and concerns of all parties is at the core of the deal. In this point it is crucial to involve an experienced property lawyer since he should check if the laws are well followed and the rights of the buyer are protected.

Once the sale deed has been carefully produced and reviewed, it must be registered with the local Sub-Registrar Office in accordance with the requirements of the Registration Act, 1908. In order for the transaction to be verified in front of the appropriate authority, the buyer and seller must physically be present, together with any witnesses. The sale deed gains legal sanctity upon successful registration, giving the buyer unquestionable proof of ownership.

What is A Sale Deed?

A legal document that certifies the completion of the sale is the sale deed. It includes information about the buyer, seller, neighborhood, property's location, and payment information. The nearby sub-registrar must register the sale deed; however, prior to registration, ensure that the full consideration has been paid. In the eyes of the law, only registered sale deeds are legitimate. It obligated the vendor and the buyer to uphold the terms and conditions they had agreed upon.

What is the Section 25 of Indian Registration Act?

As to Section 25 of the Indian Registration Act, all required evidence for the registration procedure must be obtained by the Sub-registrar's office within four months after the date of registration. The person who registers the sale deed in Pune must fulfill the requirements within the allotted period.

If the person does not provide the necessary documents for the registration procedure, they will be fined ten times the registration fees of the sale deed in Pune. To prevent this from happening, it is best to get legal counsel in advance.

Information Necessary To Include In The Sale Deed

1. Details of the parties
2. Description of the Property
3. Declaration by the seller
4. Settlement of loans 
5. Consideration for sale
6. Delivery and ownership

Who Is Eligible To Apply For A Sale Deed In Pune?

Usually, the seller, not the buyer, applies for a sale deed in Pune. The process of drafting and completing a Sale Deed is started by the seller, who is either the property's legitimate owner or has the authorization to sell it. Both the seller and the buyer sign the Sale Deed, which contains the details of the property sale, such as the purchase price, the property's description, and any other applicable stipulations. To be formally valid, the Sale Deed must be prepared, stamped, and registered with the relevant government agency.

What Benefits Does Property Registration Offer?

According to Sale deed in Pune, there are a few advantages of property deed registration that may be employed and benefited from. These are listed in the following order:

1. It offers assurance that the land deed actually and truly relates to the property.
2. It serves as proof of the transfer that the party drafting the Sale deed in Pune will have, and it is legally enforceable.
3. It offers protection against fraud and forgery, which could happen at any time as a result of a transaction gone wrong.
4. It facilitates the transfer of the property's ownership title, promotes transactions and creates a record in official records for the sale deed in the Pune section in accordance with law.
5. Helps in saving the original sale deed in Pune and making title deeds for the property or certified copy of the deed in case the original is misplaced or stolen.

Documents Required For Obtaining Sale Deed In Pune

1. 2 passport size photos of all parties, each of the seller, buyer, and all the witnesses.
2. Photo ID Proof (voter’s ID card and passport of the buyer, the seller and all the witnesses).
3. Original and Duplicate copy of the certificates.
4. Certified copies of documents of Incorporation of both buyer and seller, in case of a company and not an individual buyer
5. Proof of the land register card to indicate that the land/ property does not belong to the Government (It can be received from the City Survey Department)
6. Proof of municipal tax bill to mention the year in which the land was built/ constructed.
7. Proof of the PAN Cards of all the parties are obligatory (It has to be annexed with the Sale Deed).
8. Photos and signatures of all parties.

Application Procedure for Property Registration in Pune

1. The applicant needs to register the record of their land or property transaction with the Sub-Registrar's Office.
2. Secondly, the applicant needs to get the "Dalil" property registration document (registration deed, sale deed, or other registration deed resulting from the land ownership process described above).
3. Thirdly, the candidate needs to go to the Tehsil office (TK) and submit an application for a mutation using Form No. 21 of the TRLR ACT (Mutation Application Form).
4. The Tehsildar will create a counter-foil that is correctly completed, dated, and signed in order to confirm receipt of the application form 21. After that, he would record the information in his Mutation registry (TRLR Act form 20).
5. Each landholder will receive a communication that includes the hearing date. Any verbal or written objection to the mutation that the Tehsil office receives before the hearing date will be included to the contested mutation case registry (Form 22 of TRLR ACT). The objection will be noted in Form 23 TRLR Act and acknowledged.
6. A field inquiry will be directed to the Tehsil office in advance of the hearing date by the Circle officer (DCM or RI), who will also test the entries in the mutation register. 
7. After the hearing, the applicant must turn in Form B, the "Form for Receiving New RoR" (Record of Rights). The Tehsil headquarters will send the case file to the DCM's office while also preparing the Badar, Jama Bandi, and Touzi registers simultaneously. Following document verification, DCM will provide an order of mutation via Form B. 
8. When the Khatian (Record of Rights) is turned over, the relevant applicant is charged Rs. 15/-per page of the Khatian and Rs. 4/-per additional page of the Khatian. The concerned applicant will thereafter receive an acknowledgement receipt as verification of the charge's collection.

Conclusion

In general, purchasing a sale deed in Pune is complex and requires legal, financial as well as administrative aspects. It is the legitimate transaction which marks that the ownership of the property is transferred from one party to another and also represents that the efforts and negotiations of the parties are concluded. In the dynamic Pune real estate market, it is important to abide by the law, title checking carefully and completing paperwork with due care ensure a hassle free and legally sound transaction.

To get legal support and guidance you can contact our legal team at Lawtendo for sale deed in Pune.

Frequently Asked Questions (FAQs)

Q. What is the Sub-Registrar of Assurances in Pune responsible for?

Ans: The Property transactions are registered and the Sub-Registrar of Assurances is tasked with ensuring they are above board. Paperwork verification, signature confirmation and record keeping of real estate deals are all within the scope of the registration procedures.

Q. What is the time taken in Pune to get a sale deed?

Ans: The time taken to get a sale deed depends on the variables, the complexity of the contract, accessibility of the documents, and efficiency of the registration process. There is a variation in its time duration. It takes around two weeks on average to complete.

Q. How should I protect myself in Pune before signing a sales deed?

Ans: Insurance of comprehensive due diligence with regard to the title of the property, confirmation of all documents, compliance with legal requirements mandates necessary.