Several state governments in India have switched to the property e-registration method of online property registration. Through the use of digital registration, the challenging process of registering real estate has become more convenient and transparent.

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Under the government’s “Digital India” effort, the Land Registration Act of 2002 introduced the idea of e-registration of property using verified electronic signatures. The conventional land registration procedure, which was based on the Land Registration Act of 1925, had a number of flaws and issues that the online registration process has successfully eliminated.

 

Where is this technology in use?

Online property registration is already available in a number of states, including Kerala, West Bengal, Karnataka, Tamil Nadu, Rajasthan, Jharkhand, Sikkim, New Delhi, Maharashtra, Madhya Pradesh, Uttar Pradesh, Uttarakhand, Telangana, Andhra Pradesh, Punjab, and Chhattisgarh. This is due to its convenience and advantages. The Common Services Centre (CSC) Scheme, which has been design by all of these states, is where registrations are verified.

 

Advantages of online registration

The following are some advantages of using technology for real estate registration:

 

Ease of use

Since the registration form may be easily downloaded online, registering a property online is quite convenient. Another option is to obtain the paperwork from the state’s office of the relevant authority. The property gets registered in around two weeks when the information on the form and accompanying documents are confirm.

 

Enhanced transparency

The full history of ownership, the number of rooms, the gross carpet area, and foundation information are all provided online. According to, Founding Director of Prop Window, Gurgaon, and the goal are to disclose all information about the property to a potential buyer. This improves transparency and reduces the possibility of dishonest behaviour in real estate transactions.

Avoids litigation

E-registration helps to offer evidence in the event of a dispute because it records all transactions relating to the property.

 

Safety

Property e-registration is secure on two accounts. First of all, a hacker cannot access an owner’s property papers, such as a transfer of Power of Attorney. Second, government servers that use SSL encryption have numerous layers of protection. They also have a customized login mechanism.

 

Information needed for real estate e-registration

• Description of the property: Number, Pin Code, area
• Property type: Flat, plot, agricultural
• Possession type: purchase, gift, or lease
• Information about the owner: Name, age, gender, profession, and names of parents
• Evidence of ownership: title deed and power of attorney

 

The documents needed by the sub-office registrar’s

• A properly drafted sale deed with a non-judicial stamp that is worth the deal value
• On both copies of the documents, there are two passport-size photos of both the buyer and the seller.
• E-stamp paper with the exact stamp duty amount on it
• Receipt for the e-registration fee
• PAN card copy
• Original identification for each party (seller, purchaser and witness)
• If the property is worth more than Rs 50 lakh, the TDS receipt
• A history of ownership transfers that is document

 

A broker’s role in E-registration

All information relating to a specific property is accessible with e-registration. Does this imply that a real estate broker is no longer necessary under the new registration system? The response is “No.” The reason is given by Ashwinder Raj Singh, CEO of JLL India’s residential services. “A skilled consultant can only address the question of whether a certain property, regardless of how many facts are available online, makes good investment sense in light of numerous alternative options,” Singh explains.

As is evident from the aforementioned remark, a potential buyer or investor cannot make a wise selection based solely on information found online about a property. Before making a purchase, a buyer must consider a number of factors concerning the house and the surrounding area. It explains that the broker will also participate in price negotiations while serving as a mediator between the parties. As a result, the broker is still quite important in real estate deals.

 

The same process in both urban and rural settings

Due to the fact that both urban and rural areas fall under the same state government’s purview, the process of property e-registration is comparable in both. However, the process differs based on whether the land is vacant or occupied. According to Singh, the current market price is consider while valuing unoccupied land. The market price and gross building investment are used as the basis for valuing occupied land that has built-up structures like shops and apartments.

It is crucial to note that just a portion of the property registration process can be complete by e-registration. This basically implies that you can enter the crucial information about the buyer, seller, and property to register the agreement using the official portal. The stamp duty and registration fees can both be paid online. However, the purchasers will finally need to make an appointment and go to the sub-office registrar’s after completing an online payment to finish the registration requirements for the property.

 

 

 

 

 

 

 

 

 

 

 

 

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