Land Registry Expenses CalculationLand Registry is an important legal process that officially records the ownership of property. This process is not only necessary, but also legally mandatory. But for many people, figuring out the expense of registry can be a complicated task. In this article we will tell you how you can easily calculate the expenses of land registry.
The cost of registry depends on several factors, such as the location of the land, its value, and the rates set by the state government. In this article we will discuss all these aspects in detail and provide you a clear guidance. Whether you are a first-time land buyer or an experienced investor, this information will prove very useful to you.
What is land registry? (What is Land Registry?)
Land registry is a government process by which ownership of land is officially recorded in the name of a person or entity. This process is done under the Registration Act, 1908. Only after registration a person becomes the legal owner of that land.
Importance of Land Registry
| serial number | Description |
| 1 | Confirmation of legal ownership |
| 2 | Avoidance of future disputes |
| 3 | Required for bank loan |
| 4 | increase property value |
| 5 | recorded in government records |
| 6 | ease of buying and selling |
| 7 | provide legal protection |
| 8 | Recognition as a valid document |
Major Components of Registry Cost
The total expense of registry is made up of many small expenses. It is important to understand these key components:
- Stamp Duty: This is the biggest expense. This is a fixed percentage of the value of the land.
- Registration Fee: It is usually 1% of the value of the land.
- Search Fee: This is charged for checking the previous records of the land.
- Lawyer’s fees: If you hire a lawyer, this expense also gets added.
- Miscellaneous Expenses: This includes expenses for photocopying, notary etc.
How to calculate stamp duty? (How to Calculate Stamp Duty?)
Stamp duty is the biggest expense of registry. It is calculated as follows:
- First of all find out the circle rate or DLC rate of the land.
- Multiply this rate by the area of the land.
- Apply the percentage fixed by the state government on the amount received.
For example:
| Description | calculation |
| circle rate | Rs 1000 per square meter |
| Area | 100 square meters |
| stamp duty | 7% |
| total stamp duty | Rs 7,000 |
Calculation of Registration Fee
The registration fee is usually 1% of the value of the land. For example:
| Description | calculation |
| value of land | Rs 1,00,000 |
| Registration Fee | 1% |
| Total Registration Fee | Rs 1,000 |
What is circle rate or DLC rate? (What is Circle Rate or DLC Rate?)
Circle rate is the minimum price that the government sets for land in a particular area. This rate is updated every year. It is important to know the circle rate as stamp duty and registration fees are calculated on the basis of it.
Registry Cost in Different States
Registry expenses vary in different states of India. Here are examples of some major states:
| State | stamp duty | Registration Fee |
| Uttar Pradesh | 7% (male), 6% (female) | 1% |
| Madhya Pradesh | 7.5% | 3% |
| Rajasthan | 6% (male), 5% (female) | 1% |
| Maharashtra | 5% (urban), 4% (rural) | 1% |
Online Registry Cost Calculator
Many state governments have provided online calculators with the help of which you can easily calculate the registration expenses. For this, you can go to the website of the Revenue Department of your state and use ‘Stamp Duty Calculator’ or ‘Registration Fee Calculator’.
Concessions in Registry Cost
Registry expenses may be exempted in certain cases:
- discount for women
- Discount for first time buyers
- Less stamp duty for farmers
- Rebates under government schemes
Documents Required for Registry
The following documents are required for registry:
- Sale Agreement
- Aadhar card
- PAN card
- Photo
- Bank statement
Steps in Registry Process
- Document Preparation: Prepare all the necessary documents like sale agreement, ID proof etc.
- Payment of Stamp Duty: Pay stamp duty as per government rates.
- Going to the Registrar Office: Go to the Registrar Office with all the documents.
- Verification of Documents: All documents will be verified by the Registrar.
- Biometric Verification: Biometric verification of buyer and seller will be done.
- Signing of Registry Deed: The registry deed will be signed by both the parties.
- Receiving a Registration Number: Upon completion of the process you will receive a unique registration number.
Problems in Registry and Their Solutions
- Errors in Documents: Check all documents carefully and correct any errors immediately.
- Incorrect calculation of stamp duty: Calculate stamp duty accurately using the correct circle rate.
- Problem of old records: Check the previous records of the land thoroughly and clarify any discrepancies.
- Technical Issues: Contact the Helpdesk for technical issues during online registration.
What to do after registration? (What to Do After Registration?)
- Keep a copy of the registry deed: Keep the original copy of the registry deed safe and also get some photocopies made.
- Application for Mutation: Apply for mutation at the local tehsil office.
- Electricity and water connections: Get electricity and water connections transferred in your name.
- Property Tax Update: Get your property tax records updated by visiting the Municipal Corporation or Panchayat office.
- Get insured: Don’t forget to insure your new property.
Disclaimer
This article is provided for general information purposes only. Although we have endeavored to provide accurate and up-to-date information, the rules and fees relating to land registry may change from time to time. Therefore, please contact your local registrar’s office or a qualified legal advisor before making any legal or financial decisions. The author or publisher will not be responsible for any loss or damage caused by the use of this information.
