Any individual that possesses land has to pay land tax to the Government. It is often paid to the Village office depending on the area of its location. Land tax is paid in the village office in the name of the deed holder of the property . The tax receipt is necessary for all transactions related to the property. A buyer should confirm the actual seller’s name as recorded in the document . the transactions conducted without the tax receipt can be void.
Any person who possesses a building for residential or business purpose should pay Building Tax to local bodies like Panchayat, Municipality or Corporation in which the building is constructed. The building tax will vary depending on the type of construction, e.g thatched roof, concrete or semi-wood finished. The tax for buildings for residential purposes is different from those used for commercial purposes. Buildings are taxed on the basis of area in sq.ft. For buildings that have more than 3000 sq.ft are liable to pay Luxury tax. These taxes are to be paid in the month of February or March every year failing which a percentage of fine is charged.
A Possession Certificate is a state or municipal-issued document that identifies the owner or owners of personal or real property. It provides documentary evidence of the right of ownership mainly for real estate purposes. It is also needed when you need to produce your proof of address while registering your vehicle or while applying for a new service such as Water, Electricity or Phone connection.
Sale Deed is a legal document describing the transfer of right, title and ownership of Property by a Seller to a Purchaser at a price either fully paid or to be paid in installments at a future date. The entire amount of sale transaction also known as sale consideration is paid at the time of registration of Sale Deed.