The object of enactment of the Registration Act, 1908, is to keep a record of the documents which transfer the right of one person in an immovable property in favour of another. The Act classifies the documents in two categories, first set is compulsory documents, and second set is optional documents.
Compulsory documents for registration
Compulsory registration is required by
- A sale deed, gift deed and exchange deed in respect of an immovable property, the value of which is above Rs.100
- The lease deeds in respect of immovable properties where the term of the lease is year to year, or for any term exceeding one year or reserving a yearly rent. For e.g. 11 months leases do not require compulsory registration.
A mortgage in respect of an immovable property if created by an instrument in writing, the value of which is Rs.100, would require compulsory registration (with the exception of mortgage by deposit of title deeds)
