Q: When is a sale of immovable property concluded?
A: The sale of immovable property is concluded on payment of the entire consideration amount, registration of the document of sale and handing actual possession of the property to the purchaser.

Q: Is it compulsory to register documents for the sale of property?
A: Yes. Documents for sale/transfer of any immovable property of the value exceeding INR 100/- are to be compulsorily registered in the jurisdictional office of the Registrar of Sub Assurances. Yes. Registration of sale/transfer documents will involve payment of registration fee, as prescribed in the Registration Rules and as applicable in the States in India, where the Property is situated.

Q: Are there any formalities to be completed or forms to be filed on execution of the Sale Deed or document of transfer?
A: Yes. The formalities and forms may vary from State to State depending on where the property is situated.Every State has its set forms under the Registration Rules that are required to be filled and filed along with and at the time of Registration of Sale Deed/Transfer Deed.Under the provisions of the Income Tax Act and Rules for a transaction of sale, it is now compulsory for the Purchaser and Seller to give their Permanent Account Number and in the event of either the Seller and/ or the Purchaser would be required to fill Form 60 of the Income-Tax Rules. In case of either the Purchaser or the Seller being a Non-Resident Indian, not assessed to tax in India, such a Party would be required to file Form 60 of the Income-Tax Rules.

Q: Checklist for selling property, whether residential or commercial.
A: ·List out all deeds of title related to the property under sale. You may be required to give photocopies of the deeds to the potential purchaser. Ascertain the survey number, village and registration district of the property as these details are required for registration of the sale.Prevailing market rates in the vicinity, current market trends and last known transactions. Formulate commercial terms i.e. price, payment schedule, transfer fees, statutory charges eg. stamp duty. Distinguish between negotiable and fixed terms and conditions of the contract eg. Price, payment schedule, time of completion etc.Avail of services of propshell.com. Get assistance from propshell to get best value of your property and hassle free transaction. Finalise commercial terms of sale.Obtain, if applicable, consent, permission, sanction no objection certificate of various authorities such as the.(a)Society (b)the income tax authority (c)Municipal Corporation (d)the competent authority under the Urban Land Ceiling and Regulation Act (e)any other authority.Check if the purchaser will be taking a loan for payment of the consideration amount. Ask for a pre approval letter from the lending institution.Permanent Account Number of Purchaser under Income Tax law.Payment of stamp duty on the formal agreement or document for transfer of the property, signing of document by both parties and registration.After receiving the entire sale price hand over legal possession of the property alongwith documents of title in original.Change name of the holder of the property to the purchaser in the records of the society, electricity company, municipal corporation, Index II etc.

Q: I want to sell my property, which are the documents a prospective buyer need from me?
A: A buyer may ask for photocopies of original sale deed, tax paid receipts, encumbrance certificate. ty.