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SALE-DEED
(A Brief Introduction)
Sale defined. Sale is a transfer of ownership in exchange for a price
paid or promised or part-paid and part-promised.
How is sale made. Such transfer, in the case of tangible immovable
property of the value of one hundred rupees and upward, or in the case of a reversion
or other intangible thing, can be made only by a registered instrument.
In the case of tangible immovable property, of a value less than one hundred
rupees, such transfer may be made either by a registered instrument or by delivery
of the property.
Delivery of tangible immovable property takes place when the seller places the
buyer or such person as he directs, in possession of the property.
Contract for Sale. A contract for the sale of immovable property
is a contract that a sale of such property shall take place on the terms settled
between the parties.
It does not, of itself, create any interest in or charge on such property.
Click for the Abstract of the Transfer
of Property Act, 1882 Section 54
Click for the Registration Act, 1908 Of Registerable
Documents Section 17
Click here for the effects of
registration and Non-Registration Section 49.
Ascertain Payment of Stamp duty and Registration
fee.
Ascertain the list of documents (enclosures) required
to be produced at the time of presentation of the document before the jurisdictional
Sub-Registrar.
Format of Sale-deed (General)
Payment of Stamp duty and Registration fee.
A. (i) Stamp duty is payable on the instrument but not on the transaction. To
ascertain the correct Stamp duty payable one has to see the intention of the document
and wordings used in it.
(ii) A general format has been designed for the help of the public concerned.
Based on this format Stamp duty and Registration fee payable on this Sale-deed (General)
is as below
Example: - (1) If the property sold is situated within the limits of
Bangalore City Corporation area, the Stamp duty payable on Rs.1,00,000=00
value of the property is as follows
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1
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8% Stamp duty on Rs.1,00,000=00.
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Rs.8,000=00
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2
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5% Additional Stamp duty on Rs.8,000=00.
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Rs. 400=00
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3
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2% Surcharge on Rs.8000.
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Rs. 160=00
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Total Stamp duty payable
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Rs.8560=00
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Stamp duty can be paid by purchasing Non-judicial Stamp papers from Government
treasury or write document on plain paper and pay stamp duty in cash or through
D.D. in the concerned Sub-Registrar Office.
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4
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Registration fee @ 1% payable on Rs.1,00,000=00.
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Rs. 1,000=00*
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* (a) Plus copying or scanning, endorsement, comparing, filing,
record of rights and postage fee also chargeable.
(b) Registration fee can be paid in cash or through D.D. in the concerned Sub-Registrar
Office at the time of presentation of the document for registration.
2. If the property sold is situated within the Taluk Panchayath Area,
the Stamp duty payable on Rs.1,00,000=00 value of the property is as follows:-
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Grand total of payment of Stamp duty and Registration fee
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Rs.9560=00
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Stamp duty can be paid by purchasing Non-judicial Stamp papers from Government
treasury or write document on plain paper and pay stamp duty in cash or through
D.D. in the concerned Sub-Registrar Office.
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4
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Registration fee @ 1% payable on Rs.1,00,000=00.
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Rs. 1,000=00*
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* (a) Plus copying, endorsement, comparing, filing, record of rights and postage
fee also chargeable.
(b) Registration fee can be paid in cash or through D.D. in the concerned Sub-Registrar
Office at the time of presentation of the document for registration.
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Grand total of payment of Stamp duty and Registration fee
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Rs.13,400=00
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The list of documents (enclosures) required to
be produced at the time of presentation of the document before the jurisdictional
Sub-Registrar.
| 1. |
An Identical copy of the Sale-deed. |
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| 2. |
Form No.1.
(in duplicate) |
Click here for The
Karnataka Stamp (Prevention of Undervaluation of Instruments)
Rules, 1977 to download Form No.1 |
| 3. |
Affidavit
(in duplicate) |
(a) Affidavit should state that Registration of this
document does not violate the notification issued under
Section 22A of the Registration Act, 1908.
Click here for Notification
Oppose to Public Policy.
(b) Affidavit should be made on Rs.20=00 Non-judicial
Stamp papers or before executing affidavit it can franked
in any Sub-Registrars Office.
(c) Sub-Registrar is also empowered to attest affidavits
as per Chapter IV Affidavits by the Karnataka Civil Rules
of Practice, 1967. |
| 5. |
Form No.60
(If the value of the property is Rs.5,00,000=00 or more) |
A declaration to be filled by a person who does not
have either a permanent account number or General Index
Number and makes payment in cash in this transaction.
Click for The Abstract of the Income-tax
Act, 1961 to download the Form No.60.
See also http://www.incometaxbangalore.org/ |
| 6. |
Form No.61
(If the value of the property is Rs.5,00,000=00 or more) |
A declaration to be filled by a person who has an
agricultural income and is not in receipt of any other
income chargeable to income-tax in respect of the transactions
specified in clause (a) to (h) of Rule 114B does not have
either a permanent account number or General Index Number
and makes payment in cash in this transaction.
Click for The Abstract of the Income-tax
Act, 1961 to download the Form No.61
See also http://www.incometaxbangalore.org/ |
| 7. |
Extract of assessment register of the property. |
This extract is necessary to assess the market value
of the property. |
| 8. |
If the property is an agricultural land the following
certificate is necessary in addition to the items specified
from sl.no. 1 to 7 above. |
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(a) Copy of the Form No.16.
(b) No objection certificate from Tahasildar. |
Form 16 means Pahani pathrike, Record of Rights and
Tenency particulars. Commonly called as RTC.
If the property is a granted land or occupancy rights
have been granted under Land Reform Act, 1961 then no
object certificate from the concerned Tahasildar.
For details Click for the Circular
No.III.on Opposed to Public Policy. |
Format of Sale-deed (General)
(This is only a draft format and not a format prescribed under any law. This
format can be used with modifications suiting to your requirements wherever it is
necessary. In case of doubt regarding payment of Stamp duty and Registration fee
etc. contact the concerned Sub-Registrar / District Registrar.)
[You can download this Sale-deed format]
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