Did you know that the real estate rules differ among states in India?
For instance, In Himachal Pradesh, people out of the state cannot purchase property without permission. However, such is not the case with Tamilnadu. People who do notbelong to Tamilnadu can still buy property in TamilNadu.
Once the property is made ‘how about the registration process?’.Is it uniform across the Indian states?
Come let’s explore the property registration norms in Tamilnadu.
Governing Property Registration Law in Tamilnadu
The registration and transfer of properties is governed by Registration (TamilNadu Amendment) Act, 2008. This law applies to the whole of Tamilnadu.However, there are specific laws that apply to registration of hill station properties, which we will see later in this blog.
Documents required for property registration
1. Original Property documents (Parent Documents)
2. Original PATTA & CHITTA – Issued by the revenue department in the name of seller
3. Encumbrance Certificate (EC) of the property
4. DD for the payment of stamp duty, transfer duty (if any), Registration fee and user charges
5. Proposed Sales deed original
6. ID proof of the seller, buyer and two witnesses
7. PAN card of Seller and buyer
8. Power of Attorney (POA) if a person is representing the buyer or seller
9. Non Traceable Certificate, Copy of complaint, CSR, Paper Advertisement, Affidavit, SRO copy of document in the case of original documents lost by the seller.
10. No objection Certificate (NOC), wherever required
Online property registration in Tamilnadu
The offline registration process typically involved submission of documents to the sub-registrar’s office. However, since Feb 2018, all property registrations were mandated to be made online in Tamilnadu. For ease of use, speed and transparency, the government of Tamilnadusetup an online portal https://tnreginet.gov.in/portal/. The portal comes under the Registrations Department. Here,the documents are submitted online. The buyer can choose the date and time of registration on the portal itself. The major advantage of the portal and online property registration is obtaining the registered documents on the same day.The portal also helps to get an online Encumbrance Certificate.
Market value of Land for Land Registration
The market value of property is the guideline value decided by the government. It is available in government website and also in the register available with the respective regional registering officers.
Property Registration Charges
• In Tamilnadu, there are two charges that apply for property registration. The first being stamp duty at 7% (on the property’s market value) and second, the registration fee of 1% (on the property value).
• In the case where properties are exchanged for one another, the stamp duty and registration fee will apply on the property with higher market value and higher value, respectively.
Hill station Property Registration - Checklist
The hill stations in Tamilnadu are more so flourishing as a real estate market owing to increasing demand. Since 2011, the concept of investing in a second property in hill stations has been growing, according to a leading newspaper.
Is the hill station property registration in Tamilnadu requires additional norms to look into?
Enjoyment certificate, another revenue department record is required in certain hill stations to register a property.
Hill station property Investment - Checklist
For hill station properties, there are certain things to look for & abide by, while buying though they are not a mandatory requirement for registering the hill station property.
Risk assessment factors
• Landslide zone: The area in which the property lies must be safe and away from landslide prone zone
• Wildlife Intrusion: Since hill stations are home to a variety of wildlife, it is crucial to find a property that is free of wildlife intrusion and does not disturb the human living.
• Reserved Forest zone: The land in which the property lies must not be within 150 m from boundaries of reserved forests
• Soil erosion:Hills receive plentiful of rains and so the property must have a robust rain water drainage system to avoid the risk of soil erosion
• Gradient: The property must be constructed on a gentle gradient as against a steep one, for better structural strength
• Habitation:Since the population in hill stations is much lower than in big cities, the area in which the property lies must have neighbourhood at vicinity.
• Water source: Bore wells are not common in hill stationsand so the property must have access to water source nearby.
• Electricity: The property must have steady and dependable power source at vicinity. This also adds to the safety aspect
• Road access: Access way to property andConnectivity to hill infrastructure is a crucial factor, more so in hill stations owing to the difficult terrain.
Are you interested in buying a Hill Station property?
Confused how to go about it?
Hills & Wills can help you make the best investment decision and smooth property registration in Tamilnadu hill stations. Being an exclusive hill station real estate property portal and service provider, it offers you the most updated property listings at attractive prices. What makes it unique, you may wonder?
Well, it gives you property choices across multiple hill stations!
Comprehensive real estate service beyond property buying!!
Learn more on www.hillsandwills.com!!!