Guide to Registering Properties in Delhi




If you are interested in purchasing some properties in Delhi, this guide intends to inform you, how you can register your property to have legal authority over it. It takes you through the process involved in registering a property in Delhi, the city that is home to many large multinational corporations and government offices. 
This guide will take you through each step of the registration process, so that you can approach it with ease.

Registering Property in Delhi

You need to apply to the Sub Registrar's office of the concerned district in Delhi, in order to register your property. The response time on registration is usually 15 days or a little more, if you proceed using paper documentation. If you wish to use the online registration system recently introduced by the Delhi Government, you will receive a response on the day you file your application itself.

Documents Required

The documents required to register properties in Delhi can be either Sale Deed, a Will, a Conveyance Deed, a Gift Deed or Share Certificates. 

The registration fee for all the documents, except for a will, remains the same, 1 per cent of the total value, with an additional charge of Rs. 100. The registration fee for a will is Rs. 600. The stamp duty differs for each document, and is based on gender.



The Registration Procedure for Sale Deeds

If you have a sale deed, the following steps will guide you on how to go about registering your property:

Details Required

You need to provide the details which will be applicable to your property, such as the date of purchase, the property transfer and inheritance issues, the legal ownership document, the proof of payment of all dues such as water bills and property taxes, and the clearance certificate from the urban land ceiling authorities.

Drafting a Legal Agreement

The next step you have to take, is drafting a legal agreement. This has to be made on a stamp paper, and you have to make an advance payment to the vendor. Make sure you mention a time period for the registration.

Completion of Registration

A property registration attorney will prepare the document, and the final deed will be printed with stamp duty certificates.

The final step involves the stamping, execution and registration of the document at the sub registrar's office. For this step, you need to be present at the office with the buyer and two witnesses. You will also need your identification documents for completing this step.

Once this is completed, the documents will be handed over to you in 30 minutes, after the submission of the payment receipt.


Online Registration in Delhi

You can register your properties in Delhi quickly, by using the online registration portal that ensures transparency in the process.

Your registration will be completed on the day you file an application.

Filing an Application

To file an application, you must have a pre-fixed appointment online or over the phone. This is so that you receive a unique appointment number, date and time to approach the sub registrar’s office. You can reach out to the appointed officials online, through the resource department website and receive your documents on the same day.

You can register 32 different property document types at the sub-registrar office. The office will have the details about your registration process, along with the forms required and the document set you need to provide. You can use the online calculator provided to determine the stamp duty based on the details you provide. You can purchase e-stamp paper, once the stamp duty is calculated.

Verification Process

Once you complete this, you can head to the sub-registrar's office, where your application is checked. Then, someone will direct you to the correct representative. You have to enter with an electronic access card, after which your documents and identity will be verified. You need to clear this step in order to appear in front of the sub registrar.

Completion of Registration

You will receive your registration documents in the evening, between 4-6 pm. This process makes the registration of property in Delhi much more user friendly, easy and transparent.



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A Quick Overview of the South Chennai Property Market


The property market of south Chennai has been performing considerably well in the recent past with integrated townships and reasonable rental values striking a chord with the end users. Read the following post to know more about the realty souk of south Chennai.

Introduction 

The Chennai real estate market is typically end user driven. Among the three segments, the residential realty market still has the maximum number of bidders. If we invest sometime in analysing the dynamics of the real estate market of Chennai, we will find out that every corner of the city has recorded some variations in growth in the dynamics of the micro markets. 

Though compared to other cities, the rental market of Chennai has not been performing that well. However, in the short run, an upward movement within the residential realty market is expected to witness an upward movement. Over time, this is also expected to boost the demand for rental houses in Chennai, thus increasing the prices of residential property in Chennai.


South Chennai Property Market

South Chennai is one of the most posh areas of the city. The region is home to industries such as automobile, electronic manufacturing and of course the Information Technology (IT). Other industries include the south Indian film industry. These have been the key drivers of the real estate market of Chennai - whether commercial or residential. 

The residential real estate market of South Chennai has witnessed tremendous growth in the recent past with huge investments from the NRIs. This has led to the construction of new-age residential properties like duplexes and penthouses. Recently, the concepts of serviced apartments have become quite popular in the region. 

Similarly, the commercial real estate market in south Chennai has also gained importance owing to the flourishing IT/ITeS sector. Business Parks, IT Parks and plush office buildings define the landscape of the region. Major localities include Old Mahabalipuram Road, Perungudi, Thalambur, Kelambakkam and Grand Southern Trunk Road. Areas like East Coast Road, Velachery-Tambram have scored extremely well in within the residential realty segment.

Key Features of the South Chennai Property Market  

The Old Mahabalipuram Road (OMR) has stretch has witnessed a huge upsurge in the real estate market in the last twelve months. There has been multiple project launches along the 26 kilometres stretch that has recorded great absorption level at the same time. However, real estate prices relative to the location continues to remain a key determinant in the success of a product.


Neighbourhoods of Karapakkam, Perungudi and Thuraipakkam have recorded sales figures that are moderate mainly due to the existing levels of prices and a dearth of infrastructure. Ample small-scale residential realty projects have dotted this region falling within the price band of INR 5000-6000 per square feet. In the coming months, the locality is expected to observe the infusion of fresh supply.

Localities of Sholinganallur and Perumbakkam are two major micro-markets of the residential real property of south Chennai. These localities are not only expected to witness a spree of residential products that would be launched in the coming months.

Strategically located Velachery-Tambaram road has been a hub of real estate activities in the recent past. Its appropriate location, clubbed with outstanding connectivity to suburban localities, has helped in retaining the real property prices of the micro markets. The region has recorded an appreciation of at least 10% during the last 12 months.

Integrated township projects are being launched in the locality of Semmancherry that has already recorded ample advance booking. Siruseri on the other hand, houses the biggest IT Park in Asia. It is also witnessing the development of some mid-segment projects. Some new launches are expected to come up in the near future.

The following table highlights the residential property rates of South Chennai

Location
Average Capital Values
(INR/sft.)
Rentals for 2BHK (INR/month)
Chromepet
4500 -5500
14000-16000
Tambaram
4200 -5000
8000-10000
Madipakkam
4000 - 4750
12000 -14000
Semmancherry
3750 -5000
10000-14000
Urampakkam
3200- 3750
8000- 10000

Source:
ICICI Property Services Group

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