Title deeds for property

FELTS · Dec 13th, 2004, 15:14

I have recently bought an apartment in Goa, and besides the 183 day rule, I have been informed by an Advocate in Goa that you can purchase the title deeds by paying a 20% fee Government tax, does anyone know of this and is it legal, it seems a bit expensive just to get the deeds, what of the other option of Notification of ownership which can be obtained until a later date when I can manage 183 days in India and just have the Notification of ownership for now, I have another two friends who are going to be in the same predicament soon with purchasing property in Goa.

Nick-H · Dec 13th, 2004, 16:11

Hello Felts,

It would be really useful if you could explain in detail your experience of property buying, what regulations yo u have come upa against, what officials you have had to deal with, experience of lawyers etc etc.

Hope I'm not asking too much

FELTS · Dec 13th, 2004, 16:31

Nick

Thats the point of my question, I have no experience with Lawyers etc, only
dealings I have had have been with friends from Goa and England and I am getting a wide range of different views of to what is right and wrong, S o if anyone can explain the difference between a Notification of ownership and Title deeds ownership in plain english and I could take it from there.

Cheers

Apana · Dec 13th, 2004, 16:44

The Government must make money. In order to register the property in your name and get the 'title deeds' you have to pay a certain percentage of the value of the property as 'stamp duty.' This is standard in most parts on the country.

I'm not sure what a notification of ownership is, but the title deed shows that the property is yours. You use the title deed to raise mortgages and things like that. The title deed in your name will most certainly be required should you decide to sell the apartment.

You might want to do a google search; there are some Indian legal web sites with quick guides to property ownership and other things.

Apana

soulstation · Dec 13th, 2004, 17:17

Title deed basically establishes the ownership of the house.
There are two components where the govt makes money: registration fees and stamp duty. The current prevailing stamp duty on sale/purchase of immovable property in Goa is just 4%. Im not aware of the registration fees though. You must consult a property lawyer in these matters.

Dec 13th, 2004, 15:14	#1
FELTS Member Join Date: Sep 2004 Location: ENGLAND Posts: 26	Title deeds for property I have recently bought an apartment in Goa, and besides the 183 day rule, I have been informed by an Advocate in Goa that you can purchase the title deeds by paying a 20% fee Government tax, does anyone know of this and is it legal, it seems a bit expensive just to get the deeds, what of the other option of Notification of ownership which can be obtained until a later date when I can manage 183 days in India and just have the Notification of ownership for now, I have another two friends who are going to be in the same predicament soon with purchasing property in Goa.

Dec 13th, 2004, 16:11	#2
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,701	Hello Felts, It would be really useful if you could explain in detail your experience of property buying, what regulations yo u have come upa against, what officials you have had to deal with, experience of lawyers etc etc. Hope I'm not asking too much __________________ . Just one member of the IndiaMike Mod Team

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Origins of 'Connaught Place' title?	Shiver me Timbers	Delhi	19	Dec 13th, 2006 12:01
buying property in goa	kev	Goa	22	Aug 18th, 2005 22:49
Property in bangalore	kaushiks	Bangalore	0	Apr 21st, 2005 20:27
Buying a 2nd property!	siman91	India Expat Area	0	Sep 30th, 2004 04:12
Property stuff	swordfish_x	India Expat Area	8	Jun 19th, 2003 00:09

Dec 13th, 2004, 16:31	#3
FELTS Member Join Date: Sep 2004 Location: ENGLAND Posts: 26	Nick Thats the point of my question, I have no experience with Lawyers etc, only dealings I have had have been with friends from Goa and England and I am getting a wide range of different views of to what is right and wrong, S o if anyone can explain the difference between a Notification of ownership and Title deeds ownership in plain english and I could take it from there. Cheers

Dec 13th, 2004, 16:44	#4
Apana Senior Member Join Date: Feb 2003 Location: Hyderabad, India Posts: 147	The Government must make money. In order to register the property in your name and get the 'title deeds' you have to pay a certain percentage of the value of the property as 'stamp duty.' This is standard in most parts on the country. I'm not sure what a notification of ownership is, but the title deed shows that the property is yours. You use the title deed to raise mortgages and things like that. The title deed in your name will most certainly be required should you decide to sell the apartment. You might want to do a google search; there are some Indian legal web sites with quick guides to property ownership and other things. Apana

Dec 13th, 2004, 17:17	#5
soulstation For God's Sake, Save The Tiger! Join Date: Sep 2004 Location: IND Posts: 141	Title deed basically establishes the ownership of the house. There are two components where the govt makes money: registration fees and stamp duty. The current prevailing stamp duty on sale/purchase of immovable property in Goa is just 4%. Im not aware of the registration fees though. You must consult a property lawyer in these matters.

User Name		Remember Me?
Password