Most of us start saving well in advance to buy a house or land. After a time when we have enough money. After that, we buy the house and plot. However, after purchasing a house or land, we have to get it registered to get ownership rights on it. Only after registration you have ownership rights on that house or land. After purchasing a house or plot, the process of registering it is very important. The thing to note is that the registration process is different in every state. In many states, the registration fee ranges from 5 to 7 percent. In this series, today we are going to tell you about some special methods with the help of which you can save your money while registering your land or house. Let us know -
You should be aware that many states give exemptions in stamp duty and registration fees if registration is done in the name of a woman. Delhi, Haryana, Punjab, Rajasthan, and Uttar Pradesh are some of the states which give exemptions in the registry in the name of women.
For example, if you register a land or house in the name of a man. In such a situation, you have to pay a subsidy of about 6 percent. Whereas if you get the registration done in the name of a woman. In such a situation you have to pay a subsidy of 4 percent. Not only this, you can also save tax on the expenses incurred on residential property.
Often the price of the property. It is more than the fixed circle rate. Due to this, stamp duty is charged more at the time of registration. Whereas stamp duty is less on circle rate.
In such a situation, you can save high expenses on stamp duty by appealing to the Registrar or Sub-Registrar at the time of registration. If you are also going to get your land registered, then you can save your money by adopting these methods.
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