Sikkim Property Registration
Sikkim Property Registration
Registration of property is the first step in making you a bona fide owner of the premise. In other words, property registration entrusts the owner with the legal rights over the property. In this article, we look at the procedure for Sikkim property registration in detail.
The following categories of persons can acquire the properties in India:
- A non-resident Indian
- A Person of Indian Origin (PIO)
Methods of Acquiring Property
In India, the individual can acquire a property by means of inheritance, will, procurement, grant by the government/court or through gifts, trusts, etc.
Section 17 of the Registration Act, 1908, regulates the property or land registration which covers the entire country except for the State of Jammu and Kashmir. The Act was created to ensure the validity of the information provided in the deed and for proper maintenance of records.
The Act stipulates that all property transactions must be registered, except if it involves the sale of a property that is restricted to Rs. 100. On the same note, transactions involving the gift of immovable property, as well as the one leased out for more than a year must be registered.
To complete Sikkim property registration, the parties to the transaction must be the residents of Sikkim. The rural inhabitants of the state must be in custody of Certificates of Identification (COI).
while registering the property, the applicant has to submit the following documents:
- Proof of identity
- Power of attorney (if representing someone)
- Stamp duty
- A printed copy of e-challan
- A printed copy of PDE details
- Revenue record of the land
- Passport size photographs of the parties
- Photograph of the transacted property
- Map of the transferred or leasehold property
- TDS Challan (for sale of agricultural land costing more than Rs. 50 lakhs)
Procedure of Registration
Let us now understand how an applicant can legalize his/her property using the procedure below:
Step 1:- Submission
The applicant may submit the sale deed and other documents to the Sub-Divisional Magistrate.
Step 2:- Appear before the authorities
Now, for affirmation of the transaction and certain clarifications, the concerned officers will ask to appear before the authorities.
Step 3:- No Objection Certificate
The documents will then be forwarded to the Registration Clerk, who in-turn will validate it before issuing a No Objection Certificates to banks, the seller’s relatives, and the boundary landowners.
Step 4:- Objection period
The Registration Clerk will order for a month’s objection. Allocation of this period to any objectors who could be against the transaction for concrete reasons.
Step 5:- Registration
Upon not raising any objection, the Registration Clerk will order the parties to remit 1% of the value of the land as stamp duty and 4% as bank receipt. The registration will then conclude in the presence of a few witnesses.
Time Limit for Submission
Furnish the essential documents not later than four months from the date of execution. In case of any delay, produce the documents to the sub-registrar with his endorsement, but the applicant might be forced to remit up to ten times of the original registration fee, subject to a maximum of Rs. 30,000.
Consequences of Non-Registration
Non-registration of the property could put the supposed owner at great risk over its ownership, considering that an unregistered document holds no legal grounds.