While having a Khata is not legally mandatory for selling your property, it is highly recommended. A Khata is a document that certifies the property's existence in municipal records and confirms that property taxes are up to date. It ensures a smoother transaction and can increase the property's market value.
What is Khata?
Khata is a document that certifies that a property is recorded in the municipal records. It is essential for property tax assessment and payment. It includes details about the property such as size, location, built-up area, and the owner’s details.
Importance of Khata in Property Transactions
- Legal Compliance
: Khata is crucial for any property transaction to be legally compliant. It proves that the property is registered with the municipal authorities and that property taxes are up to date.
- Bank Loans
: Financial institutions often require a Khata for processing home loans. It acts as proof of legal ownership and compliance with municipal regulations.
- Property Improvements
: To obtain licenses for property modifications, such as construction or renovation, a Khata is often required.
- Property Resale
: Having a Khata facilitates a smoother resale process. Buyers prefer properties with a clear Khata as it indicates the property is free from legal issues.
How to Obtain Khata?
Here’s a step-by-step guide to obtaining a Khata:
- Application Form
: Obtain the Khata application form from the local municipal office or download it from the municipal corporation’s website.
- Required Documents
:
- Sale Deed
: Attested copy of the property’s sale deed.
- Property Tax Receipts
: Latest property tax receipts showing up-to-date payment.
- Encumbrance Certificate
: To ensure the property is free from legal dues.
- ID Proof
: Copy of the owner’s identification proof (Aadhaar, PAN card, etc.).
- Proof of Address
: Copy of the owner’s address proof (utility bills, etc.).
- Sale Deed
- Submission
: Submit the filled application form along with the required documents to the local municipal office.
- Verification Process
: The municipal authority will verify the documents and may conduct a physical inspection of the property.
- Processing Fee
: Pay the required fee for Khata registration. The fee amount may vary depending on the property’s size and location.
- Khata Certificate and Extract
: Once verified, the municipal authority will issue the Khata certificate and Khata extract, confirming the property’s registration in the municipal records.
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Authors Of The Question
Is it Mandatory to have a Khata to Sell one's Proeprty with just the Registered Sale's Deed?
Raghu
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1 Answers
1 Year
2023-10-09T12:27:10+00:00 2023-10-09T12:27:10+00:00Comment
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