PGN Property Management in Bangalore

The RECONVEYANCE DEED refers to a document that transfers the title of a property to the borrower from the bank or mortgage holder once a mortgage is paid off ----------- Once the full and final settlement of dues is paid in respect of  MEMORANDUM OF DEPOSIT OF TITLE DEED (MODT) , the bank will issue following documents, stating that dues have been cleared and request to proceed Reconveyance deed No Objection Certificate (NOC) Reconveyance deed Title Deed The NOC looks like the below image on bank’s letterhead: RECONVEYANCE DEED looks like below image: TITLE DEED is the list of documents that you handed over to bank at the time of MODT registration, Bank will hand back those documents. TITLE DEED includes your registered deed. ----------------------------- The next step is to register Reconveyance Deed in sub-registrar office: For your better understanding, let me give a real example that how I registered Reconveyance Deed of my property in sub-registrar office, On 13th January 2016 ,

  TDS  stands for Tax Deducted at Source. At the time of purchasing property, the buyer is liable to deduct TDS from buying price and pay TDS to Income Tax Department. Who Pays TDS: As per the government regulation, the buyer responsible to deduct the TDS and not the seller. If the buyer does not discharge this duty of TDS payment, buyer can be penalized for non-payment. TDS rate: 1% TDS is applicable if property purchase value or guidance value is more than Rs. 50 Lakhs, whichever is higher. TDS on purchase of property is applicable for residential property, commercial property and land. But this does not include agricultural land. TDS for NRIs is different because the government deducts capital gains and TDS for the NRIs. Below is the TDS rate for NRIs When to pay TDS: Buyer need to pay the TDS on or before registering the sale deed, as the registering officer verifies the TDS challan before proceeding sale deed registration, also It is important to mention TDS Challan number in sale