Sale deed is a legal document for sale and transfer ownership of property. It is the main document ,the seller transfers his rights on the property to the purchase. It provides legal recognition for the transaction of the property. It is the final deed. It has the name, address, age of the seller and buyer,total area of the property, details of construction, final deal price of the property, advance payment, mode of payment, all original property documents.
Sale deed contains the type of deed. They mentioned if the agreement is a deed of sale or mortgage. The property details are also included in the sale deed. It has an agreement statement, which includes buyer and seller agreement to buy and sell the property details like date advance payment, mode of payment, etc.
It is a valid proof of ownership of a property. It is mainly created on non judicial stamp paper of required value by the state government.Every state has different values of stamp paper. Buyer should pay the stamp duty and registration charges. The seller of the property makes sure all dues like tax,loan,water,electricity bills are paid before sale.
In case of any dispute,it can be used as evidence. It contains all the details of property ownership. It has 3 years validity. If any negative clause,the buyer is required to register within 3 months, we can cancel the deeds by registering cancellation deed.If the sale deed is not registered, it is invalid .
We can see the total expense for registering a sale deed. Normally it is expensive.we have to pay the stamp and registration fees based on the price of the land we are buying. All land has a fair value. The highest value is seen on the stamp paper. We can check the fair value of our land through the website of Kerala state .The price of the property is determined by the type of land. Mainly lands are different types. They are residential plots with panchayats/ municipality/corporation,residential plots with national highway/ PWD roads,residential plots with private roads,residential plots with no vehicle access, fields,gardens,and commercial property.
How to check the fair value of land
- Visit the official website of Kerala registration.
- Enter the details like district, RDO,Taluk,village.
- Enter the type of property.
- Enter the survey number
- We can see the fair value of the property according to the nature of the land.
Fairvalue always seen based on R .it is 2.47 cent.we can divide the cent by 2.47. You can see the value of 1 cent. The engineers give the price of buildings. We should give 8% stamp duty,2% registration fee of the fair value whichever is higher. It is the tax. Two times the stamp duty paid in respect of previous sale deed if it was executed within 3 months. 1.5 times stamp duty paid for a previous sale deed if it was executed within a period of 3 to 6 months from registration date.
We can see the sale deed writing fees on the website of the registration department. The amount shown on the sale deed Rs 3 lakhs to Rs 5 lakhs , the writing fees is Rs 5000.The amount shown on the sale deed Rs 5 lakhs to Rs 7 lakhs ,the writing fees is Rs 6000. The amount shown on the sale deed is Rs 7 lakhs to 8 lakhs,writing fees is Rs 7000.Above 8 lakhs, the writing fees is Rs 7500.