How to Register a Sale Deed in Pune?

Pune Jun 29, 2021

A sale deed is a legal document that records the price, terms and conditions upon which two parties have made a property transaction. A sale deed is written on a non-judicial stamp paper.

Contents of a sale deed

A sale deed Records the following information-

  1. Parties to the sale deed: The names, ages, and addresses of the parties to the transaction
  2. Description of the property sold: Full description of the property under transaction including plot area, identification number, construction details, if any, location as well the description of the surrounding area including roads etc.
  3. Consideration or Sale amount
  4. Mode of payment
  5. Indemnity provision: The seller typically declares that all the statutory charges, bills, and dues such taxes, utility bills etc  have been paid.
  6. Signatures or thumb impressions of the buyer, seller and 2 witnesses.
  7. The stamp duty and registration fees paid by the buyer.

A model sale deed can be found here

Due Diligence

It is important that you (the buyer) do a ‘due diligence’ of the property you want to buy. The process of due diligence includes verifying the ownership status of the property in question and checking if the property has any encumbrances. Now Property buyers in Pune can now access land records online through a portal called e-Search by paying a fee. This portal is run by the Maharashtra government.

WHOM TO CONSULT WHILE DOING DUE DILIGENCE?

While you can carry out a title verification on your own, it is advised that you consult a due diligence expert to do so. Real estate lawyers and law firms offer consultation services for carrying out due diligence at varying prices.

We at Terra Economics and Analytics Lab (TEAL) also help clients instantly access property information using big data analytics and machine learning. To learn how TEAL can help you in your journey, visit https://www.tealindia.in.

How to register a sale deed in Pune

Pay the stamp duty and registration fees for registering your sale deed in Pune online.

PAYMENT OF STAMP DUTY AND REGISTRATION FEE

Property buyers in Pune can pay the stamp duty and registration fee online through the GRAS portal. Go to https://gras.mahakosh.gov.in/igr/frmIndex.php. You can either create an account on the portal or proceed through the Pay Without Registration option.

1. Go to https://gras.mahakosh.gov.in/igr/frmIndex.php. You can either create an account on the portal or proceed through the Pay Without Registration option.

2. Once you click on the 'Pay Without Registration' button, the portal will take you to the next page where you can choose the type of user, and the payments you want to make. Individual property buyers should choose ‘Citizen’. The e-GRAS portal allows you to pay stamp duty and registration fees together.

3. The next page will open up a form. The form has seven parts.

  1. Department details: Choose the district and sub-registrar office in whose jurisdiction your property is located. Choose the article code 25.1 Conveyance/Sale/Transfer.
  2. Payment details: Under payment details. Specify the stamp duty and registration fee you must pay.
  3. First party details: Enter the name, PAN, and mobile number of the buyer.
  4. Second party details: Enter the name and PAN of the seller.

5. Property details: Enter flat/survey number in case of a plot, locality or road, area/city, and pincode of the property.

6. Property value details: The market value of the property and consideration amount which is the amount you actually paid to the seller.

7. Payment mode: choose the mode of payment from the given options

Execution of the deed

Once you have made the payment, you must visit the specified sub-registrar office with the seller, two witnesses and the required documents.

The documents needed are-

  1. The original sale deed
  2. A copy of the sale deed
  3. Photo identity proof in the form of voter’s ID card or passport of the buyer, the seller and the two witnesses
  4. Copy of the municipal tax bill to indicate the year in which the property was built/constructed
  5. Copy of the PAN Cards of the seller and the buyer
  6. Thumb impressions/signature and photographs of the buyer, the seller and the two witnesses are mandatory

At TEAL, we are building the next generation of property due diligence using big data analytics and machine learning. We provide reliable information about property ownership, registration status, disputes, tax compliance history and all other information that you will need to make a safe and secure property investment. To learn how TEAL can help you in your journey, visit tealindia.in.

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