Mutation of property is a very necessary procedure that must be conducted in order to show that you are the legitimate property owner. Unfortunately, most people don’t know about this very important process that is essential for safeguarding property transfer. However, renowned builders and developers in Kolkata will give you some information about this when you buy a house for the first time.
Mutation is a simple process that can be conducted in court with the help of certain documents. Although the process is different across different states of India and even the documents are different still, there is a sense of uniformity in the way you need to do this important task.
This article helps you understand the process of mutation in great detail. Here we first explain to you about the process of mutation and how it is done in West Bengal. Then we proceed to tell you about the documents required for the same. We have focused only on West Bengal here as we are mainly concerned about property in Kolkata. However, rest assured that the process and documents will not be that different in other parts of India too.
Read on to find out what mutation is and what documents are required for doing it.
What Is Mutation?
When you buy a property, you have to first pay the payment for the house in slabs and then also pay the stamp duty. Then the property becomes registered on your name. However, after a year, you have to pay property tax too for your flat.
When you go to pay this amount for your property tax, the municipal corporation in question namely, Kolkata Municipal Corporation will ask you for your mutation papers. They will not accept your payment without it and you will also have to pay a penalty with interest when you produce these papers later.
To avoid these inconveniences, it is best if you get your mutation done as quickly as possible. The worst part about mutation is that it is not a one-time thing. You have to do it time and again in order to keep your property papers updated. This makes it quite unwieldy and cumbersome. However, you have to do it as this is mandatory and cannot be skipped.
There is no need to worry however as it is not that difficult to do. All you have to do is set your legal papers in order and then visit the Corporation Office. There you can pay your property tax every year. Daakhil-Kharij is the Hindi term for mutation of property and is quite prevalent when referring to this procedure.
Note that mutation of property is required for all kinds of flats so don’t ignore or neglect this important process as doing so can be detrimental for you in the long run. This is true for even 3 BHK flats in the upcoming areas of BT Road, Dumdum and Shyambazar in North Kolkata. And since the process is quite simple with ample help available everywhere, then why should you be left behind?
Documents Required For Mutation
Now we will come to the topic in question that is the documents that are required for mutation. Please note that the documents in question will change according to the situation and circumstances. There are three different circumstances that we will discuss and you can gauge for yourself which one of them you fit into. So let us now proceed to discuss these three circumstances and which documents are required for them respectively.
1. If You Are The Owner Of The Property
If you are the owner of the property, then you need to submit a sale deed copy and an application letter for the mutation of your property with a court fee stamp of Rs. 3 affixed on it. You also need to sign an indemnity bond on a stamp paper of Rs. 100, an affidavit on a stamp paper worth Rs. 10 and the latest tax clearance papers of your property. Thus, there are 5 documents that you need to submit for your mutation when you are the owner of the property.
2. If You Have Inherited The Property From Your Predecessors
The most important documents that you need to submit in this case are the death certificate of the person from whom you have inherited the property and a copy of the will. The other documents required are an indemnity bond on a stamp paper of Rs. 100, an affidavit that is given on a stamp paper of Rs. 10 and this has to be attested by a notary and finally the latest tax clearance papers of your property.
3. If You Have Used A Power Of Attorney To Buy The Property
In this case, the main documents are a copy of the power of attorney papers and a copy of the will. The other ancillary documents that you need are an indemnity bond on a stamp paper of Rs. 100, an affidavit on a stamp paper of Rs. 10 and the latest tax clearance papers of your property with a court fee stamp of Rs. 3 affixed on it.
Facts To Be Noted
- The penalty for not having done the mutation at the right time is generally very low. In fact, it can be as low as Rs. 25 in many cases. Another good thing is that you can do this whenever it suits you. The only problem will arise when you decide to sell your flat sometime in the future. Not having mutation papers that you can produce will put you in a precarious position as they will definitely be demanded by the new buyers of your flat. If you are not able to produce your mutation papers, then you may find great difficulty in selling your flat to prospective buyers.
- Even though it is not mandatory for you to do the mutation of your property in a court of law, still this is an important procedure that you must undertake. This is because it serves both as a proof of ownership and also a tax record.
- While we know that mutation rules change from state to state, still they are mostly within the range that we have earlier mentioned.
- You need to keep your mutation papers updated from time to time. This will enable you to keep your property records in perfect order.
From the above, it is clear that we need certain documents in order to do the mutation of our property. In this way, you get a comprehensive view of the topic in question that will surely help you secure the future of your treasured property that is part of the upcoming residential projects in Kolkata.