Know All About Property Registration Charges in Chennai

# Know All About Property Registration Charges in Chennai Every plot owner must register their property in Chennai to establish legal ownership. It is one of the crucial documents to show the authenticity of asset possession. Property buyers should be aware of the importance and <a href="https://www.sameeraestates.com/blogs/stamp-duty-and-registration-charges-in-chennai.html">charges of plot registration in Chennai</a>. <h2 dir="ltr" style="text-align: justify;">What is Property Registration? </h2> Property registration is the legal process for documenting the transfer of ownership. It creates a legal record of the property transaction from the government authority. The property registration charges are paid at the Sub-Registrar's Office (SRO) in Chennai. <a href="https://jpcdn.it/img/8cf3714b702beb39a85f6eecc343f44b.webp"><img src="https://jpcdn.it/img/small/8cf3714b702beb39a85f6eecc343f44b.webp" border="0" alt="floorspaceindexmeaningformulacalculationandimportance.webp" width="690" height="345" style="display: block; margin-left: auto; margin-right: auto;"></a> <h2 dir="ltr" style="text-align: justify;">Why is Property Registration Important?</h2> Under the Registration Act of 1908, property registration is mandatory in Chennai. If a person buys properties like a plot, apartment, or independent house, they must pay stamp duty charges and registration within four months from the sale deed execution date. Here’s why property registration is important: <h2>Establish legal ownership </h2> Property registration authenticates the real estate transaction and gives legal ownership to the entity. It is paperwork that proves the legitimate acquisition of land or property. <h2 dir="ltr" style="text-align: justify;">Safeguard Property Rights </h2> Property registration means creating a public and legal record of property ownership. It gives certain legal rights to the property owner. A property registration document is essential for legal validity, dispute resolution, and ownership verification. <h2 dir="ltr" style="text-align: justify;">Prevent Fraud </h2> Property registration ensures a transparent real estate transaction. It prevents property fraud and protects real estate investment. <h2 dir="ltr" style="text-align: justify;">What are Property Registration Charges? </h2> It is vital to understand the property registration charges in the city you wish to invest in. The plot or land registration charges in Chennai are: <ul style="text-align: justify;"> <li dir="ltr" aria-level="1"> Property sale and gift: 4% of the market value. </li> <li dir="ltr" aria-level="1"> Exchange: 4% of the market value of the greater property value. </li> <li dir="ltr" aria-level="1"> Simple mortgage: 1% of the loan amount (Maximum Rs. 10,000). </li> <li dir="ltr" aria-level="1"> Mortgage with possession: 1% (Maximum of Rs. 2,00,000). </li> <li dir="ltr" aria-level="1">  Lease deed: 1% of total rent + deposit. </li> </ul> <h2 dir="ltr" style="text-align: justify;">Documents Required for Property Registration in Chennai</h2> <ul style="text-align: justify;"> <li dir="ltr" aria-level="1"> PAN card. </li> <li dir="ltr" aria-level="1"> Identity proof of the seller. </li> <li dir="ltr" aria-level="1"> Identity proof of witnesses. </li> <li dir="ltr" aria-level="1"> Stamp duty receipt. </li> <li dir="ltr" aria-level="1"> No objection certificate. </li> <li dir="ltr" aria-level="1"> Power of attorney. </li> <li dir="ltr" aria-level="1"> Utility and municipal tax bills. </li> </ul> For property registration, one can visit the Sub-Registrar's Office (SRO) within the jurisdiction of the property location. They can provide supporting documents and pay the registration fees. Alternatively, the landowner can visit the Stock Holding Corporation of India Limited (SHCIL) in Chennai to pay the registration fees.