Drafting of Deeds is our property lawyer’s Primary legal services. The registration or transfer of property in Tamil Nadu is managed by the Registration Department as per the Tamil Nadu Registrations Act. In this article, we look at the Tamil Nadu property registration charges and procedures in detail.
In Tamil Nadu, the property registration charges are stamp duty of 7% on the property value in the market and registration fee of 1% of the property value. In case of property registration on account of the exchange of property, stamp duty at 7% on the market value of the higher value property and registration fee of 1% of the value of the higher value property.
Before the price negotiation of a property and/or entering into a sale agreement of a property, the purchaser should have thorough property verification of due-diligence. Property laws and procedures are very tough and complicated. One must engage a qualified attorney who specializes in property transactions from the relevant area to fulfill the smooth completion of the transaction process. ( Learn more about the process of getting encumbrance certificate (EC) in Tamil Nadu and checklist for purchase of properties).
After completion of a thorough property due diligence and you can a decision to go ahead with the purchase. Nextly, You must buy the stamp paper based on the Charges of property registration. Stamp paper vendors will sell stamp papers at the rate of the face value of the stamp. In addition to vendors of stamp paper, stamp papers are also being issued by The Sub Registrars, Treasuries, as well as Assistant Superintendent of Stamps, Chennai.
Registration of Properties in Tamil Nadu must be fulfilled within 4 months of execution of the sale deed.
A penalty will be imposed for Delay in the registration of property documents. The penalty is as below: