How to register a flat in Kottayam

Kottayam is one of the leading and most popular districts in Kerala in terms of all the facilities like education, medicinal facilities, and, more importantly, life quality you would enjoy here if planning to stay here. It is a highly preferred choice of stay for HNIs and NRIs in Kerala.

Kottayam is the most prominent city in the center of the Travancore area, making it a highly preferable place for many to settle down here. There has been enormous growth seen in all the surrounding areas of hotspot cities such as Kodimatha, which seems to promise guaranteed growth in the property value that you own nearby it.

The big question arises, how to register a flat in Kottayam if planning to settle down here? Below we will guide you with systematic procedures you need to follow on how to register a flat in Kottayam.

Follow following procedure

Search for Property-

Firstly, to get the property to buy, you need to search for it. You should contact various brokers who make multiple options available to you at various locations and price ranges. Always look for the locality around the property and its connection with the market, its accessibility with the hospital, railway station and bus stop, etc. And follow how to register a flat in Kottayam procedures systematically.

Getting a Legal Opinion-

While you buy any property, there are various complex legal terms involved, which you won’t understand until you contact any legal advisor like advocates or any broker. Try to understand every factor which is related to all the buying procedures. But taking the advice of those who are well experienced in this side and have done the same things various times would properly guide you to approach the right property.

Getting a certificate of Encumbrance-

An encumbrance certificate is an officially verified document that helps know the property’s authenticity, whether it is loan-free, has any debts, etc. After checking for all the relevant documents and certifying every transaction related to your property, this document is stamped and verified by the Sub-Registrars office. It is highly recommended to get an encumbrance certificate of at least 30 years from the sellers before you get into any agreement.

Observe the revenue records-

When a property is exchanged between two-person, the details would be recorded in revenue records in the form of mutation details of your property. The mutation details are kept under the municipality's record for various purposes like future tax payments. It would not point to the legal title of your property to those it has been mutated. You would be asked to submit all the essential information by writing on paper, stamped with non-judicial, and submitted to Tahsildar for your locality.

Agreement-

An agreement report is one of the official contract documents signed between the buyer and seller under a witness. Buyers and sellers need to follow the rules specified by government law. The terms and conditions it includes include the value of your property, period of documentation, all the terms and conditions for the encumbrance certificate, the amount paid in advance form, all the documents, etc. If you buy a property consisting of furniture and the house, it needs to mention all the details about the furniture kept in the house, all form of a short description of every property present in your property.

Agreement Registration-

It is highly recommended to register an agreement of sale at your specified locality Sub-Registrars office. After submitting it, the record would be well kept in the record of the Sub-Registrars office for subsequent buyers who would get the legal agreement to confirm the legality of the property that they buy. For the process of registration, you need to sign an agreement by submitting some nominal fees of registration and stamp duty.

Purchase Stamp paper in the name of buyers –

Usually, the stamp paper is purchased by submitting the buyer’s name from the Stamp paper vendor, which depends on the stamp you buy. All the stamp values vary according to purchase price. You can get to know the rate of stamp duty by contacting the Registrar’s office or by visiting the Kerala Registration Department's government-handled website.

Actual value of land-

The stamp duty is usually calculated based on the actual value that transacted property owns. But it is made mandatory never to specify the sale value of property lower than the fair value, which the government fixes. The present fair value chart used in Kerala now was 2010, which would get updated soon since the current budget contains this proposal. The government would make many updates in the Government Stamp Act to revise all the current charges.

Get the sale deed-

Your advocate or any document writer would make the Sale Deed documents, suggesting that your property is free from any defect and would not create any future complications.

Registration of Land-

When you buy land, make sure your land is registered in the office of Sub Registrars. It is advisable to finish the registration process within the period of agreement between the buyer and the seller. About 2 percent of the value of land would be charged for getting your registration done. This 2% of the value is identical irrespective of location.

Essential documents required for getting your registration done successfully:

•     Real Title Deed.


•     Certificate of Encumbrance.


•     Certificate of Possession.


•     Previous Deeds.


•     Receipts related to payment of taxes and land.


•     Witnesses while registering.


•     Photos of buyer and seller in passport format.


•     Any identification card which would identify buyer and seller.