Sale Deed
Execution of the sale deed is technically the concluding part of property-purchase process. After a buyer and a seller reach an agreement, they first execute an agreement to sell, a document that sets the terms and conditions based on which the future transaction will take place. The creation of the agreement to sell means terms have been placed for the transaction while the creation of sale deed means the purchase has completed. As mentioned in the agreement to sell, the two parties have to conclude the sale within a set period after executing the agreement to sell.
Now, let us see what all a sale deed consists of and how it is executed.
Calculate stamp duty, buy non-judicial stamp paper
The value of these stamp papers would be the money you have to pay the authority as stamp duty, the fee authorities charge to register a deal in government records.The buyer can either buye-stamp of the correct value after creating an ID on the official website of Stock Holding Corporation of India Limited (SHCIL) or can buy physical stamp papers from authorised centres.
After the purchase of the papers, every single detail about the transaction and the manner is being carried out would be typed out of the paper. These details would include:
Names of buyer, seller
PAN numbers of buyer, seller
Photographs of buyer, seller
Full detail of the property
Deal value and all other financial details, including TDS payment (if applicable)
Stamp duty amount
Names and address of two witnesses
All other relevant terms and conditions of such deed