Calculation of Stamp Duty

The first page of the Sale deed consists of calculation of Stamp duty and Corporation basis circle rate of the area, keeping in view the cost of construction, plot size, year of construction etc.

Date & Place of Signing

The Sale deed generally begins with the Date and place of signing. Date would mean Date, month and year of signing the deed. Place would mean the city in which the deed is being signed.

Parties

The Sale deed should bear the correct name, Father’s name, age and complete address of both the parties i.e., Buyer and Seller. One need to ensure that the name and address being mentioned in the Sale deed matches with the name and address mentioned in the identity proof submitted for the purpose of registration by the buyer and the seller.

Property Details

The sale deed must contain correct and complete description of the property under Sale. The Sales deed should mention the total plot area, identification number, details of construction, the exact location and surroundings. It is important to attach the property schedule in the sale deed which shall define the precise location and dimensions of the property.

It is important that the other attachments to the property such as garage, parking space, servant quarter and their location and area is also adequately defined in the Sale deed.

Sale Consideration

The exact amount agreed between the seller and the buyer must be mentioned in the sale consideration clause. This clause should mention the amount already paid and the balance consideration being paid at the time to signing of the Sale deed. Correct description of instrument i.e., cheque or D/D shall be mentioned in the Sales consideration clause .The amount of TDS deducted from the Sales consideration shall also be mentioned in the Sales Deed.

Handing Over of Possession

It should be clearly mentioned in the Sale deed as to how and when the possession of the property is being handed over to the buyer by the Seller. Actual date of handing over possession shall be mentioned in the Sale Deed.

Reference About Government and other Charges

It should be clearly mentioned in the Sale Deed about the liability of the seller to pay Property tax, Electricity bill, Water bill, maintenance charges etc., till the date of execution of Sale deed and that thereafter the payment of the same should be the liability of the buyer.

Indemnity

The Property which is the subject matter of sale shall be free of all encumbrances including mortgage, lien etc. The seller shall have an unfettered ownership right to sell and transfer the ownership of the property. It is not feasible for the buyer to investigate where all the property is given as collateral by the seller. It is therefore advisable to have an Indemnity clause in the Sale deed which insulates the buyer in case of any third-party claim on the property or part thereof.

Witness.

The Sale Deed shall be signed by the two witnesses, preferably one from each side. The witnesses have to provide their full addresses, signatures and names. The buyer, seller and the witness have to affix their passport size photos on the Sale deed.

Signature & Thumb Impression

Buyer and seller shall have to put their signatures on every page of the Sale Deed. They also have to put their thumb impression on the specified place in the Sale deed.