GENERAL INFORMATION ABOUT THE PROPERTY

As a buyer, you have the responsibility to register your property to the Government. This process involves paying stamp duty and registration charges and is done in accordance with the provisions of the Registration Act of 1908. 

According to Section 17 of the Registration Act, of 1908, it is legally required for all property buyers to register their newly purchased property in their names. This process involves paying the purchase price as stamp duty and registration fee. 

  • Sale Deed: The document that formally transfers ownership.
  • Patta hitta/Adangal: Revenue records establishing ownership and  the right to cultivate land.
  • Encumbrance Certificate (EC): Records any existing Encumbrances or liabilities on the property.
  • Title Deed: Establishes legal ownership and history of the property.
  • Government-issued ID cards: For all parties involved.
  • PAN card: For all parties involved.
  • Stamp duty receipts: Proof of payment of stamp duty.
  • No Objection Certificate (NOC):  If applicable, from relevant authorities.
  • Power of Attorney: If applicable, for representation by someone else.
  • Life Certificate of Principal Is must: At the time of registering the Document.
  • Utility and municipal tax bills: Proof of payment of taxes, Fees and Charges:
  • Stamp duty: 7% of the market value of the property.
  • Registration fee: 4% of the value of the property.

The property registration must be completed at the Sub-Registrar’s office under whose jurisdiction the property is situated. You can also register the property in the District Registrar’s office of that Registration District.

It is generally considered essential to have a Patta (also known as Chitta or Adangal) for property registration. 

A Patta is a revenue record that establishes ownership and the right to cultivate a piece of land. 

It serves as proof that the person mentioned in the Patta is the rightful owner of the property.

The name of the present owner will have patta in his name.

Once the property is registered to the buyer name, the patta will be transferred. 

The document registration process typically takes about one weeks to complete. Once it is finished, you can pick up your documents from the sub-registrar’s office. You will also receive a notification on your registered mobile number when the documents are ready to be collected.

CHENNAI METROPOLITAN DEVELOPMENT AUTHORITY (CMDA)

CMDA approval stands for authorization from the Chennai Metropolitan Development Authority for construction or land development projects within the Chennai Metropolitan Area.

What are the areas under CMDA?

The CMDA administers the Chennai Metropolitan Region, the districts of Chennai, Thiruvallur, Chengalpattu, Ranipet and Kancheepuram.

What is the purpose of the CMDA?

Its responsibility is among other, to regulate all physical developments within Chennai Metropolitan Area on planned lines. For this purpose, CMDA has prepared a Master Plan which designates the land use permissible in every part of the Chennai Metropolitan Area.

  • Metropolitan Area:

Chennai Metropolitan Area (CMA) encompasses the Greater Chennai Corporation, Avadi Corporation, Tambaram Corporation, Kancheepuram Corporation, along with other municipalities, town panchayats, and panchayat unions.

What is the full form of DTCP?

DIRECTORATE OF TOWN AND COUNTRY PLANNING.

Which is best, CMDA or DTCP?

DTCP-approved lands are more likely to have increased value in the future. Getting a DTCP approval takes less time compared to CMDA. Once you get the approval, it lasts forever unlike the 3-year validity in CMDA.

What is the minimum plot size for CMDA approval?

For CMDA approval in Chennai for residential building construction, the minimum plot size requirement is typically around 600 square feet (or 60 square meters), though specific requirements can vary based on the zone and type of construction.

What are the benefits of CMDA approval?

CMDA (Chennai Metropolitan Development Authority) approval offers buyers and developers in the Chennai Metropolitan Area (CMA) several benefits, including legal security, ensuring adherence to urban development norms, and potentially higher resale value.

What is the criteria for CMDA approval?

The applicant is then required to furnish the required documents to the CMDA, including the project’s layout plan, encumbrance certificate, and a No Objection Certificate (NOC) from the local authorities.

  • Legal Security and Peace of Mind:

CMDA approval signifies that a property or project has undergone thorough verification and meets legal and regulatory standards, providing buyers with peace of mind and reducing the risk of future legal issues.

  • Clear Titles and No Disputes:

CMDA approval ensures that the land title is clear and free from disputes or encumbrances, safeguarding your investment.

  • Adherence to Master Plan and Development Norms:

CMDA approval guarantees that the property is developed according to the city’s Master Plan or Detailed Development Plan, ensuring proper planning for infrastructure like roads, water supply, and drainage.

  • Enhanced Property Value:

CMDA-approved properties often command a higher resale value due to their compliance with urban development norms and the assurance of a legally sound investment.

  • Facilitated Infrastructure Development:

CMDA approval implies proper planning for essential infrastructure, such as roads, water supply, and drainage systems, leading to a better quality of life for residents.

  • Smooth Plan Approvals and Building Permits:

Developers and builders find it easier to obtain plan approvals and building permits for CMDA-approved projects, streamlining the development process.

  • Reduced Risks and Uncertainties:

CMDA approval validates adherence to regulations, reducing risks and uncertainties for buyers of commercial or residential plots in Chennai.

  • Guaranteed Infrastructure:

CMDA-approved plots are typically located in areas with good infrastructure, including roads, schools, and transportation, making them attractive for investment and living.

RERA stands for Real Estate Regulatory Authority, a government body established under the Real Estate (Regulation and Development) Act, 2016, to regulate the real estate sector and protect the interests of homebuyers.

Here’s a more detailed explanation:

Who introduced RERA?

The Real Estate (Regulation and Development) Act, 2016 (RERA), was introduced by the Indian Parliament to bring transparency and accountability to the real estate sector, protecting homebuyers and promoting fair practices.

  • Real Estate (Regulation and Development) Act, 2016:

This Act was passed by the Indian Parliament to bring transparency, accountability, and efficiency to the real estate sector.

RERA became effective across all states from May 1, 2017

Purpose of RERA:

The RERA Act aims to protect the interests of homebuyers and promote real estate investments by ensuring that developers adhere to certain standards and regulations.

Key Provisions:

  • Mandatory Registration:All real estate projects, with certain exceptions, must be registered with the respective state’s RERA authority.
  • Transparency:Developers are required to provide accurate and complete information about their projects, including project details, approvals, and financial information, on the RERA website.
  • Project Completion:Developers must specify project completion dates, and if they fail to meet these deadlines, they may be liable to pay compensation to homebuyers.
  • Carpet Area:RERA introduces the concept of “carpet area” as the basis for property pricing, ensuring that buyers know the exact usable area of the property.
  • Quality Assurance:RERA mandates that developers maintain the quality of construction.
  • Title of Property:Developers must provide clear and marketable titles for the properties they sell.
 

What is a RERA certificate?

A RERA certificate is a legal document. It has the details of the property or project registered under state-level RERA authority along with the unique registration number. A property or project cannot be advertised, booked, or sold without the issuance of the RERA certificate.

What if the RERA date is expired?

If a Real Estate Regulatory Authority (RERA) registration date expires, the developer cannot legally advertise, market, sell, or offer for sale any plots, apartments, or buildings within the project, and buyers may have grounds to seek refunds or compensation.

What is the full form of CREDAI?

CREDAI stands for Confederation of Real Estate Developers’ Associations of India. It’s a non-profit organization that advocates for real estate and housing in India.

Purpose

  • Promote a transparent and supportive real estate environment.
  • Influence policy and processes related to taxation, interest rates, FDI, RERA, environment, and labour legislation.
  • Organize exhibitions, conferences, and seminars to showcase projects and facilitate knowledge sharing
  • Educate customers and prospective buyers

History

  • CREDAI was established in 1999

Advocacy

  • CREDAI engages in policy advocacy with the government, including the Ministry of Housing and Urban Affairs, Ministry of Environment, and more
  • CREDAI interacts with the government, academics, and media

Benefits of membership 

  • Collective representation and unified voice of the real estate industry
  • Influencing policy and processes