Common Mistakes to Avoid During Property Registration in Navi Mumbai

The real estate market in Navi Mumbai is booming. It is a planned city with excellent infrastructure and large green spaces. The upcoming Navi Mumbai International Airport and the Mumbai Trans Harbour Link have turned the city into a residential gold mine. Several schools, colleges, businesses, and hospitals have moved to Navi Mumbai. Add to this the furious pace of construction by some of the top developers of Mumbai, and it is not difficult to understand why homebuyers are flocking to this city.

Registration of property in Navi Mumbai

Navi Mumbai has been developed as a swanky and upscale satellite city of Mumbai, but administratively, it is spread across two districts - Thane and Raigad. Several sub-registrar offices serve each of these districts. To ensure property registration and legal compliance, you need to identify the district registrar's office that has jurisdiction over the location of your new home. You can register your property through this office.

Online registration of property in Navi Mumbai and stamp duty payment

To ensure smooth registration of property in Navi Mumbai, the government of Maharashtra has enabled payment of registration fees and stamp duty online. Here is the process you must follow -

• Log on to the Government Receipt Accounting System portal through the link https://gras.mahakosh.gov.in/echallan/
• Register as a new user through the link on the left-hand panel.
• Log in with the newly created login ID and password. Do not share these with anyone else.
• Here, you will need to pick the type of user. Under the "Citizen" drop-down, you will find the option to pay stamp duty only, pay registration fees only, and pay both together.
• Fill in the form with the address of your property and the property value, pick the appropriate sub-registrar's office, and enter your personal details and the details of the seller.
• Now, you will find the option to make the payment through digital payment modes such as net banking, credit and debit cards, or digital wallets.
• Once the payment is made, download the receipt and take a printout of the e-challan.

Contact the sub-registrar's office with your property documents, sale deed, and the e-challan to complete the registration process and receive the registration documents. This may take up to 45 days.

Registration fees and stamp duty in Navi Mumbai

The registration fees and stamp duty of your Navi Mumbai property will depend on the property value, i.e., the amount you have agreed with the developer or the circle rate (ready reckoner rate), whichever is higher. The stamp duty is 5% of the property value. In addition to this, you must pay 1% local body tax and 1% metro cess. Women who buy property in Navi Mumbai are required to pay 4% stamp duty and not 5% of the property value. The registration fee for all properties valued under INR 30 lakh is 1% of the property value, and any property over INR 30 lakh attracts registration fees of INR 30,000.

Common mistakes to avoid during property registration

1. Attempting the online registration process with incomplete location and address details. It is important to have the complete address, including the PIN code, for the registration of the property.
2. Initiating the registration of the property before the sale is concluded. The registration of property in Navi Mumbai and paying the stamp duty and registration fees should be done only after the sale is concluded and both parties sign the sale deed.
3. Not having clarity about the sub-registrar's office. The registration of any property falls under the purview of the sub-registrar of the district. Knowing the taluk, tehsil, and sub-registrar in charge of your property location is important.
4. Not having the details of the seller. While registering the property, you will need to provide details of the seller's PAN. Keep this handy when trying to pay the stamp duty and registration fee.
5. Not maintaining a copy of the e-challan. The e-challan, or the receipt of the stamp duty and registration fee payment, is an important document that must be presented at the sub-registrar's office.
6. Delay in presenting documents. According to Section 25 of the Maharashtra Registration Act, the documents for property registration must be presented to the sub-registrar within four months of registration. Any failure to do so will attract a hefty fine. 

If you are registering a resale apartment or flat, you may be able to avail of a waiver on stamp duty. It is important to keep yourself updated about new registration fee and stamp duty guidelines.