Transfer and Registration process in Gautam Budh Nagar
Noida Authority Transfer and Registration of property process:
The property transfer and registration process in Noida Authority involve several steps, including the following:
Transfer Deed: The first step in the transfer process is the execution of a transfer deed, which is a document that transfers ownership of the property from the seller to the buyer.
Payment of Transfer Fee: Second step is to pay the transfer fee, which is a fee charged by the Authority for transferring ownership of the property.
Verification of Documents: The Noida Authority will verify the documents submitted by the buyer and seller to ensure that they are in order. If there are any discrepancies, the Authority may ask for additional documents or clarification.
Stamp Duty Payment: The next step is to pay stamp duty, which is a tax levied on the transfer of immovable property. The stamp duty rate is 5% in Noida and Greater Noida and 7% in YEIDA where the property is located and the value of the property.
Submission of Documents: After paying stamp duty, the buyer and seller need to submit the transfer deed and other required documents to the sub registrar office for registration.
The required documents typically include identity proof, proof of ownership of the property, and proof of payment of stamp duty.
Property Registration: Once the documents are verified, the sub registrar will register the transfer of ownership and issue a property registration certificate to the buyer.
Mutation of Property: Mutation of property is always required to be done in both cases i.e. in the case of a freehold property as well as in the case of a leasehold property. Mutation of a property purchased in a Builder Society or authority land developed by the Noida development authority has to be done at the Noida authority itself.
It's important to note that the process and requirements for property transfer and registration may vary depending on the specific laws and regulations in the state of Uttar Pradesh, India, and the rules set by the Noida Authority. It's advisable to consult a real estate professional or legal expert for more specific and up-to-date information.