For the registration of a property, after the stamp duty and registration fees have been paid, the buyer typically goes to the relevant sub-registrar’s office (or SRO). At the SRO, upon finishing the registration process, a document containing information about the property, the parties involved, and the relevant documents submitted (such as the PAN) is generated, as per Section 55 of the Registration Act, 1908 . This document is named “Index 2”, as there are a total of 4 index documents to be developed under the section: Index 1 through 4. However, this article focuses only on Index 2.
What Does the Index 2 Document Contain?
The Index 2 can be described as the summary of the transaction, as it contains relevant information about the transaction, such as:
- Type of the deed (such as sale or lease)
- Compensation amount (or the price at which the transaction was completed)
- The market value of the property
- Area of the property
- Buyer and seller details
- Full information about the property - such as its address, detailed description of its location - including the survey number
- Registration fees, and stamp duty amounts
A sample of an Index 2 document, for the state of Maharashtra is given below:
How Can the Index 2 Document be Used?
The Index 2 document, besides being a compulsion under the property Registration Act, is also a useful document to have as proof of the transaction having taken place. Certified copies of the document are often asked for by society management committees as part of their application process, along with banks and financial institutions at the time of loan issuance.
Is it Safe to Share the Index 2 Document?
As the index 2 is a publicly registered document, it is freely available for public use, and hence sharing it is not risky.
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