Registrations can now be made with cash
Posted on: 09/Jun/2017 11:26:17 AM
A new circular is issued from the Registration Department. It contains details of procedures to be practiced at the time of property registration. From all those who register property, sub-registrar offices will accept cash between 9th and 13th June. No demand draft or online payment shall be stressed upon in spite of the amount being more than Rs 1,000.
Funds more than Rs 1,000 are not usually accepted as cash. For this, a demand draft or online payment is mandatory. In case of property registrations made on Fridays, the demand draft will be obtained one day before. So, the additional amount can be paid by cash, say officials.
In case of registering for sale deed for property for higher amount within or before 8th June, the registration can be done for 33 percent lesser than the old guideline value after 9th June.
When an agreement for property sales is registered at a fixed amount before 8th June pertaining to the old guideline value, the charges will be applicable based on the same old value only. Only in case of cancellation of agreement, the new guideline value shall be applicable.
At the same time, this slash down of guideline value shall only be applicable for land and not the fixed rate for buildings by the PWD.
The appeal provision under Section 47 A (1) of Indian Stamp Act shall also be implemented according to the old guideline value.
For conversion of agricultural land into housing sites, there is comprehensive guideline value given too.
