The Joint Inspector General of Stamps and Registrations Department, Vemula Srinivas, said that after the formation of Telangana State, there have been many changes in the registration system. He explained that the government has taken steps to complete the entire registration process in one day. In this article, let us tell you the details about the process of registration in the state and its fee as he speaks exclusively with the Real Estate Guru on various topics, including how market values are ascertained and more. Excerpts from the interview:
“We have implemented many changes in the registration system, including changes in payments, stamp duty, and registration fees. What kind of payment did you make and which bank did you make the payment from are being endorsed in the document so that people can know the details, like how linking with Aadhaar will check for fraud and bring more transparency. Also, by integrating with the PAN card, we have made people free from any problems related to income tax.
More importantly, there is also a facility to get information from municipalities, panchayats, and GHMC. In the case of any property with a property tax identification number, our sub-registrars will check whether the owner is selling the property or gifting it. After registration of such documents, mutation is also done immediately at the office of the sub-registrar without going to panchayats or municipalities. All this happens in one day. That is, registration is done, mutation is completed, all the documents are scanned, and they are returned to the parties on the same day. All these are the benefits given to the people by the decisions taken by the Telangana state government after its formation.”
“If you want to register a flat, a plot, or an independent house anywhere in Telangana state, you just have to go to our official website (registration.telangana.gov.in) and check it yourself. Check whether the property is on any restricted lists. That means whether the property is government land, endowment land, waqf land, or assigned land, or whether the property cannot be sold or bought according to the law, it can all be seen on the prohibited list. Moreover, the market value of the property you want to buy can also be seen on the website.
Also, if you want to write the document yourself, that too is available on the website. Later, you can submit your written document in advance through Citizen Data Entry to ensure that you do not have to wait for a long time at the Sub-Registrar’s office. It is also known as slot booking. You can also review information on when to arrive at the subregistrar’s office on the website. The registration fee can also be paid online. Complete information about all this is available on the website.”
“If you want an easier procedure, you can share the details, and we will give the details for free online. Apart from that, if you want it in the form of an EC certificate, you have to go to the Mee Seva office. No matter where you are in the state, you can get it from your nearest Mee Seva office. Even if you are in Adilabad, there is a facility to take EC regarding the property, which is in Hyderabad. That means you don’t have to go to the place where the property is. EC can be taken from anywhere in the state. Alternatively, you can go to the office of the sub-registrar in which the property is located and get the EC. The certified copies, along with the EC, can be collected from your Seva Kendras. EC information has been updated since 1983. That means if you want EC from 1983 to 2023, it is just a click away. If you want EC before 1983, you must do manual verification. For this, one has to go to the concerned sub-registrar office.”
“There are two committees to determine market values: the urban committee and the rural committee. Rural committees mean lands belonging to the Gram Panchayat; they can be agricultural or non-agricultural lands. In this regard, these committees will have the MDO, MRO, and Sub-Registrar as members under the authority of the RDO. Regarding urban properties, there are committees headed by the Joint Collector. The Municipal Commissioner, Zilla Parishad CEO, and Zilla Sub-Registrar are its members.
Together, they determine the market values, keeping in mind the local conditions. However, market values did not increase in the first seven years of the formation of Telangana State. The government has fixed the market value in order to observe the market trend. Then the market value is revised scientifically. No official has the power to be biased or arbitrary in determining the market value. If you do not agree with the rate mentioned in the Market Value Guide Lines Register, the matter goes to the committee headed by the Collector. The committee will examine everything and decide whether to reduce the market value or maintain it.”
“Stamp duty is the same across the state. Agriculture and non-agriculture are the same. If the sale deed is taken, the total is seven and a half percent. That means stamp duty, registration fee, and transfer fee all together are seven and a half percent. Also, mortgages, gifts, and other items are less expensive. The rate is the same in Adilabad and Hyderabad. However, there are differences in market values. Market values are higher in districts like Hyderabad and Ranga Reddy and lower in places like Adilabad and Karimnagar. It is an open economy. The value of any good or service depends on the principles of supply and demand. Market value is usually higher where more people want to live.”
“In the case of apartments, our state has a composite valuation. That means we determine the value of the land and structure per square foot. For example, if you buy a 1000-square-feet apartment and the market value is Rs. 3 thousand per square feet, the market value for 1000 square feet will be Rs. 30 lakhs. Then seven and a half percent stamp duty have to be paid on that Rs. 30 lakhs. If you buy that flat for Rs. 50 lakhs, you must pay seven and a half percent on that Rs. 50 lakhs. That means you must pay stamp duty of seven and a half percent on the actual amount paid or the market value, whichever is higher. Where and how much is on our website? It is possible to get the district-wise market value of any apartment or land.”
“You should know the person from whom you are buying the property. What is his personality? Things like credentials are to be considered. Also, physically inspect the property and inquire locally. See if there are any objections regarding the said property. Check if there are differences between the landlord and the developer. Also, EC must be taken. If there are no original documents, how did they lose them? Details should also be known about whether a police case has been filed to recover them. Find out if they are trying to sell the property by showing color xerox.
If there are four or five owners, you need to be very careful if one or two of them approach. Also, check if there are any boundary disputes. It should also be checked to see whether the survey numbers are correct or not. If it is assigned land, then do not buy it at all. Property should be bought only after taking care of all these things thoroughly. The precautions we take will save us.”
This website uses cookies.