Selling Delhi NCR property involves a variety of bureaucratic procedures, which need to be followed in order for the vendor to legally complete the transfer of the ownership to any new buyer. The first step is to obtain (from the municipality) a 'tax estimated price document' along with the registered schematics of the property. By law, these two documents should be issued upon request within days, however in reality it can take up to twice as long. The cost of achieving these documents issued is marginal, the time it takes for someone to go to the various departments and make applications etc is normally the more expensive element.
In addition to the documents from the municipality, the buyer has to prepare two declarations: a declaration for their marital status and a declaration confirming that all government taxes are paid up to date. Although not compulsory, in order to process the transfer of ownership some notaries require certificate of encumbrances, confirming that the property is clear of any mortgages or any other liabilities that could render the transfer invalid. Provided that the vendor is local and deals with the obtaining of these documents themselves, the whole procedure can be completed within 30 days. Villas in Greater Noida / Villas in Noida / Villas in Ghaziabad / Villas in Delhi NCR.
In the case of foreign vendors, typically they are not present at the time of exchange and either use a solicitor or their estate agency who should offer representation services. In either case, the procedure becomes notably more complicated as without the signatory being present the vendor must issue Power of Attorney in the name of the third party, who then obtains all the above described documents on their behalf. The PoA as well as the two declarations have to be signed by the vendor physically present in front of a Delhi NCR, or alternatively signing is witnessed by a Public and then sent for Apostille stamping at the Foreign Office option for countries in accordance with Hague. Once notarized or apostilled, the original documents must be delivered to Delhi NCR, translated into Delhi NCR and legalized by the Delhi NCR Department.
The above is the most straightforward representation of the sales scenario, unfortunately it rarely happens in reality. For example, additional complications may occur when the property is mortgaged or when the buyer uses a mortgage to purchase. In these cases the lending banks carries out much more stringent investigations, which inevitably result in requests for further documentation, thus forcing the vendor to repeat the notary / apostille process and its costs. Additional complications may also arise if the vendor has changed their marital status since purchase, if a passport has recently be renewed or will expiry before the completion of that sale.
The property itself must be clear of any legal disputes, properly registered with the municipality and the vendor must be appropriately registered for tax. As laws have changed with notable frequency, it is very common for a foreign owner (who has bought two to three years prior) not to know their new responsibilities regarding registration, as such further documentation is required in order to bring them fully into 'good standing' before the property can be exchanged.