The property registration is mandatory in India as per the Indian Registration Act, 1908. The transfer of property is to be registered to obtain the rights of the property on the execution date of the deed. And accordingly, the House Registration Charges In AP will be levied. Let us look at the process of property AP Registration.
What are the Documents Required for AP Property Registration?
- Passport-size photo of property buyer and seller
- Photo identification (Voter Card, Aadhar Card, Passport, etc.)
- Verified copy of the original sale deed.
- Copy of the latest property register card (to be obtained from the City Survey Department).
- Copy of Municipal Tax bill.
- Stamp Duty in Andhra Pradesh
- The stamp duty is the percentage of the transaction value levied by the state government, on every registered sale.
Does Property Registration Benefits?
- Registration of property helps for proper recording of documents which provide more authenticity.
- To ensure the prevention of fraud, conservation of evidence, the transfer of title to the owner.
- By registering property, the document will maintain an up to date public record.
Stamp Duty
Stamp Duty is collected during the transfer of property from one person to another.
- The state government collects the amount and is governed under the Indian Stamp Act 1922.
- The State government collects stamp duty, and it varies from one state to another.
- The payment of stamp duty includes stamp duty, transfer duty fee, and AP land registration charges. It is calculated on the market value of the property.
Stamp Duty Payment Process
- If you buy a property, then registration of the new property is mandatory. Also, you have to pay stamps and registration charges in AP.
- With the AP Registration and payment of fees, you will become the owner of your property legally. This document helps in any future unexpected property disputes.
- You will also have a duplicate copy of your sale or transfer deed in Sub-Registrar’s office. It will help in the case if you lose your original documents.
Types of Charges
- Sale Deed
- Gift Deed
- Exchange Deed
- Partition Deed
- Lease Deed (where the period of lease is more than 12 months)
- Transfer Deed
- Mortgage Deed
- Power of Attorney (General or Special)
Calculation of the Stamp Duty Charges Differs Based on Below Features:
- Property location: A property located in an urban area attracts more stamp duty compared to rural areas.
- Property type: Lower stamp duty is charged for a residential property (flat/apartment) compared to a commercial property (industries/ commercial complex/ hotels).
- Age of the property: A new property has more stamp duty than older/resale properties.
- Gender of buyers: A female buyer can get a rebate on the stamp duty charges.
- Age of buyer: A senior citizen can also get a rebate on the stamp duty charges.
Updated Information: Property Registration Charges In Andhra Pradesh in 2019:
The state government fixes stamp duty. For example, in Andhra Pradesh, the base Andhra Pradesh Stamp Duty rate of apartment/ flat is 5%, transfer duty is 1.5%, and the registration fee is 0.5 %. Stamp Duty fee is imposed on the absolute estimation of the property.
To know further details on AP land registration charges and stamp duty, go through the Andhra Pradesh State government official website.http://registration.ap.gov.in/