The entire process of property registration is governed by the Indian Registration Act, 1908. This law provides for the registration of documents, preservation of evidence, prevention of fraud, and assurance of ownership.
Property registration is a crucial step in the process of buying any type of real estate — whether it is a house, shop, or plot. When ownership of a property is transferred from one person to another, the transaction must be formally registered at the sub-registrar’s office after paying necessary charges like stamp duty and registration fees. This entire procedure is known as property registration. An important aspect of this process is the requirement of two witnesses, who must be present during the deal. But who can serve as a witness in property registration? Let’s find out.
Who can be a witness in property registration?
Any individual above the age of 18 can act as a witness in a property transaction. However, there is one critical condition: neither the buyer nor the seller can serve as a witness. Both witnesses must be physically present during the entire registration process to validate the transaction. Ensuring the presence of reliable witnesses is an essential legal safeguard in property transactions, which helps to maintain transparency and prevent disputes in the future.
Witnesses need to provide identity proof
The entire property registration process is governed by the Indian Registration Act, 1908. This law ensures the legal recording of documents, preservation of evidence, prevention of fraud, and assurance of ownership. The two witnesses required for property registration must establish their identity before the sub-registrar. For this, they must present valid identity and address proof. Additionally, their biometric details are scanned and recorded as part of the registration process.
Property agents must focus on transparency: Minister
Earlier on March 21, Housing and Urban Affairs Minister Manohar Lal asked real estate agents to maintain transparency and trustworthiness in their business activities for the growth of the Indian real estate sector, which is estimated to reach Rs 85 lakh crore market size by 2030.
Addressing an annual convention of the National Association of Realtors India (NAR-INDIA), the minister also stressed the need to adopt best global practices and new technologies in the real estate sector. NAR-India represents around 50,000 real estate agents.
ALSO READ: Property prices surge over 125 per cent in 3 years in this NCR region, rental values jump by 66 per cent
