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Buying Property? Learn All About E-Registration
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The process of buying property is incomplete without registration. According to a ruling by the Supreme Court of India, no ownership or payment transaction would be valid if the property is not registered. While being an indispensable part of the property buying process, it is definitely not an easy task. Registering a property involves numerous visits to the sub registrar’s office by the buyer and well as the seller. However, the introduction of e-registration has made the process easier. Let us learn how.

What is E-Registration?

E-Registration is nothing but a simplified and convenient version of the conventional property registration. With the introduction of this process, property buyers and sellers have the option of avoiding cumbersome visits and long queues in the sub registrar’s office. They now have the access to a transparent and faster property registration process. Karnataka, Delhi, and Mumbai have been amongst the first states / cities to have introduced the e-registration process.

How Does it Work

The Revenue Departments of different states and cities operate their respective e-registration portals online. If you are looking to e-register a property, you can do so by visiting the state’s online portal and following the instructions mentioned there.

Are there any Safety Issues?

The e-registration portals are safeguarded by server generated SMSes / notifications at all the important stages of the process. Like with all other online transactions, the fear of being a victim of internet fraud plagues the e-registration process as well. However, the government portals take stringent safety measures through step by step verification and cross-verification of information.

What are the Costs Involved?

There are no additional charges for the e-registration other than the regular registration charges, which is 1 percent of the registered property cost, more often than not. Since the transaction happens online, the registration fee can be paid via debit or credit cards instead of bank drafts.

States that have online portals to facilitate e-registration

Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, and Haryana are a few amongst the many states that have made e-registration available to property buyers and sellers.

Besides simplifying the process and saving time, the e-registration procedure helps buyers / sellers cut down on the brokerage paid to middlemen. Another reason why e-registration is picking up fast is the transparent and anti-corruption approach it brings to the government procedures that are a part of property buying.

Abhai Manichaturvedi 18 Jul 2016