Registration is the process of recording a copy of a document,
transferring the title in immovable property to the Office of
the Registrar. It acts as proof that a transaction has taken
place. However the real purpose of Property Registration
is to ensure that every person dealing with property for which
compulsory Registration is required has an authentic source
to rely on, in the statement contained in the register being
a full and complete account of all transactions by which the
title may be affected.
Importance of Registration
The Registration of a document serves as a notice of the transaction
to the persons affected by the transaction and an implied notice
to any person subsequently acquiring interest in the property,
covered by the registered document. For a document, which is
compulsorily to be registered and is not registered, it fails
to confer any title given by the document.
The importance of Property Registration can be gauged from the
fact that except in case of transfer of shares of a co-operative
housing society and housing limited company where Registration
is optional, it is compulsory virtually in all cases of transfer
of immovable property.
Agreement to Sell, Conveyance, Gift Deed, Lease Deed
(above one year), Leave and License Agreement, Tenancy Agreement,
Declaration Deed, etc. have to be registered compulsorily
under Indian Registration Act, 1908 otherwise
the proper legal title will not be transferred to the purchaser/transferee
i.e. the title will be considered defective if Registration
is not done.
The Registration Certificate is mere evidence that a document
has been registered. When the execution of a document is disputed
between two parties, the fact that the document is registered
is not sufficient to prove its genuineness.
Maximum time limit
Registration is done after the parties execute the document.
The agreement should be registered with the Sub-Registrar of
Assurance under the provisions of the Indian Registration Act,
1908 within four months from the date of execution of the document.
If due to any reason, the document is not registered within
the time limit and then the document can be registered only
on making an application to the Sub-Registrar of Assurance within
a further period not exceeding four months and on payment of
appropriate fine.
Registration Procedure
A new set of rules with regard to Registration procedure has come into place. It is mandatory that the document be printed or typed on one side only and in black colour. The specifications include photocopy to be taken on only one side of the paper where the paper should be of 90 GSM thickness. Butter paper of good quality must be submitted to the Sub Registrar and should equal the number of typed papers in duplicate. Two photo copies on white papers/ledger papers of 90 gsm, must be supplied by the parties along with the original document. .
If the Sub Registrar is satisfied, he will simultaneously issue
a cyclostyled version of the property registration form
to the transferor for filling up details relating to the property.
The Sub-Registrar of Assurances verifies the document to ascertain
whether it is legal to register and checks for payment of stamp
duty registration. (Any document obligatory during Real Estate
deals is required to be fully stamped as per the Stamp
Duty Ready Reckoner which is a public document available
for inspection at a Sub-Registrar's Office. This will confirm
that proper Stamp Duty has been paid).
In his presence all parties executing the document admit that they have executed the document presented for Registration. Parties to the document are photographed and their thumb impression is taken. Sub-Registrar puts his official seal on each page and on the last page he signs the document as being registered.
After completing this procedure, he records the contents of the document. The photocopy or scanned image is retained by him in his records as a permanent copy and can be obtained in future or whenever a copy of the document is required. This copy becomes a public document, which can be scrutinized or inspected by paying the requisite inspection fees.