NRI Real Estate and Property Investment in India
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Register your Delhi Property without an Agent
Tuesday, September 18, 2007

Investors in real estate Delhi market will be saved the harassment of registering their property with the aid of brokers, once the Delhi Government’s e-format goes online by the end of the year 2007.

Encompassing a range of deeds covering lease, sales, transfer of ownership and all property related agreements, standard formats will be introduced that will be downloadable from the internet.

The facility is designed to remove the middlemen from the registration process who charge a hefty fee, and deprive the state government of revenue.

The facility would enable property sellers, buyers, tenants and landlords, lessors and lessees to draft deeds without depending on local advocates, deed-scripters or other middlemen.

If the process proves successful, it could be extended to all property transactions. The use of stamp paper may also be obviated, if the revenue department goes ahead with its plan of using revenue receipts or go through an arrangement for payment with banks to complete the electronic process.

These reforms are part of the Delhi Government’s initiative on urban reforms. Readers will recall that the introduction of new circle rates in July this year was the first of such moves.

Related Readings

»Delhi Property Prices Expected to Increase with New Circle Rates

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