Sale and Purchase of Property
Step 1: Execution of agreement to sell. Important items to be covered in agreement to sell are:
· Full name of the parties (as appearing on the identity card or company’s incorporation document, as applicable).
· Total sale consideration of the property.
· Complete particulars of the property, i.e., (i) house/plot number, khasra, khatooni/khata, (ii) measurement, and (iii) location.
· Mode of payment (it is preferred to use banking channel, for instance, pay order, demand draft, cross-cheque).
· Dates of payment, handing over of possession, execution of sale deed and transfer of property should be clearly stated. The parties may consider providing for consequence of non-compliance with the foregoing cut-off dates.
Step 2: Payment of balance consideration, handing over of possession (this will vary subject to terms and conditions of the agreement) and execution of sale deed.
Step 3: Both parties will visit the concerned Sub-Registrar/Tehsildar for registration, pay the applicable taxes and record the same in the revenue record through mutation (inteqal).
Step 4: Inform the patwari about the registered sale deed and obtain certified copy of mutation order from patwari.
Step 5: Obtain certified or computerized copy of missal miyaddi/fard malkiyat, register dakhil-kharij and mutation order.
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