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Sale Deed

Sale Deed Registration in Mumbai

When buying or selling property in Mumbai, a sale deed is an essential document that must be created to formalize the transaction. A sale deed is a legal document that establishes the transfer of ownership from the seller to the buyer. It contains details of the property, the buyer, the seller, and the terms of the transaction.

What is Sale Deed?

A sale deed is a legal document that records the transfer of ownership of property from the seller to the buyer. It is an important document that serves as proof of ownership and is necessary for any transaction involving the sale of property. The sale deed must be registered with the Sub-Registrar of Assurances in Mumbai, and the buyer must pay stamp duty and registration fees to complete the transaction.

What are the Documents Required for Sale Deed in Mumbai?

To create a sale deed in Mumbai, the following documents are required:

Proof of identity and address of both the buyer and the seller, such as Aadhaar card, PAN card, or passport.
Copy of the property card or the 7/12 extract to establish ownership of the property.
Copy of the building plan and the occupation certificate issued by the local municipal authority.
Encumbrance certificate, which is a document that shows whether there are any legal claims or liabilities on the property.
No objection certificate (NOC) from the housing society or the local municipal authority, if applicable.
Power of attorney, if the property is being sold by someone other than the owner.

What are the Steps to Create a Sale Deed in Mumbai?

The following are the steps involved in creating a sale deed in Mumbai:

Drafting the Sale Deed: The first step is to draft the sale deed, which must contain all the necessary details such as the names and addresses of the buyer and seller, the description of the property, the sale price, and the payment terms.

Get the Sale Deed Notarized: Once the sale deed is drafted, it must be notarized by a notary public to make it legally binding.

Pay Stamp Duty and Registration Fees: The next step is to pay stamp duty and registration fees based on the value of the property. The stamp duty and registration fees must be paid in the bank and the receipt must be submitted to the Sub-Registrar of Assurances.

Register the Sale Deed: The final step is to register the sale deed with the Sub-Registrar of Assurances. The buyer and seller must appear in person with two witnesses to sign the sale deed in front of the Sub-Registrar. The Sub-Registrar will then verify the documents and record the sale deed in the official records.

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