What is a purchase deed?
A purchase deed is a legal document that records the price, terms and conditions upon which two parties have made a property transaction. It is written on a non-judicial stamp paper. Purchase deeds are actually sale deeds which have been recorded as ‘purchase’ deeds by the Sub Registrar.
Contents of a purchase deed
- Parties to the purchase deed: The names, ages, and addresses of the parties to the transaction
- 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.
- Consideration or Sale amount
- Mode of payment
- Indemnity provision: The seller typically declares that all the statutory charges, bills, and dues such taxes, utility bills etc have been paid.
- Signatures or thumb impressions of the buyer, seller and 2 witnesses.
- The stamp duty and registration fees paid by the buyer.
How to register a purchase deed in Navi Mumbai?
Purchase deeds are essentially sale deeds which have been labelled ‘purchase deeds’ at the Sub Registrar’s Office (SRO). You can pay the stamp duty and registration fees for registering your purchase deed online on Maharashtra government’s e-Gras portal- https://gras.mahakosh.gov.in/igr/frmIndex.php. You can access the entire procedure for registering your sale deed by clicking on our blog on ‘How to Register a Sale Deed in Navi Mumbai?’
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