Buying an apartment in Bangladesh is more than simply a financial commitment; it’s an important step towards safeguarding your future. With urbanization altering the housing scene, an increasing number of people prefer flats to traditional isolated residences.
However, the trip does not end with the financial transaction; correct legal ownership is a needful step to be aware of. Flat registration in Bangladesh is a laborious process that protects your rights and establishes your title to the property.
Why Flat Registration Is Crucial?
Flat registration is the foundation of property ownership. This legal process ensures that you are recognized as the lawful owner of the property by the law. Without proper registration, your ownership rights may be called into doubt, potentially resulting in a dispute.
By registering your flat, you create an unambiguous legal record that protects your interests and confirms your legitimate ownership of the property.
Furthermore, registration helps to avoid future disputes or claims. Property ownership disputes are widespread in densely populated countries such as Bangladesh. Proper registration serves as a legal shield, protecting your property from false claims or misunderstandings.
It establishes your ownership in a legally binding manner that cannot be easily questioned.
Another part of flat registration is complying with Bangladesh’s property laws. This process assures that your property transaction follows the legal framework, preventing future legal difficulties.
Registering your unit not only protects your investment but also contributes to the transparency of the real estate business.
This compliance emphasizes the importance of flat registration in protecting individual rights and the integrity of the housing market.
Essential Documents for Flat Registration
To effectively register a flat in Bangladesh, the appropriate documentation must be prepared and verified. Proper paperwork not only speeds up the procedure but also reduces the chance of legal difficulties.
The following are the significant paperwork that you may need to prepare and know why they are important:
Land Deeds
This contains the title deed, mother deed, and sale deed, which are all necessary for proving ownership. The title deed establishes legal ownership, whereas the mother deed establishes the historical chain of possession, ensuring that no conflicts arise. The sale deed is a record of the transaction between the buyer and seller that formalizes the property transfer.
Mutation Records
Mutation records are important because they authenticate the transfer of ownership in official government records. This document confirms that the property has been lawfully transferred to the new owner’s name and has been documented in the municipal or local land registry.
City Survey Records
These documents include the Daag number and Porcha, which are used to identify a specific plot of land and its boundaries. This guarantees that the property data matches the official survey maps, providing clarity and preventing future land conflicts.
RAJUK Plan Approval
Property owners in Dhaka must seek RAJUK (Rajdhani Unnayan Kartripakkha) approval before proceeding. This certificate confirms that the building meets local building codes, ensuring structural safety and lawful construction procedures.
Power of Attorney (if applicable)
If a legal representative is handling your property matters on your behalf, a valid Power of Attorney is required. This document grants the representative legal authority to operate in the registration procedure, providing buyers with flexibility and convenience who cannot manage the proceedings in person.
Registration Process: Step-by-Step
1. Ownership Verification
Before beginning the registration procedure, it is critical to verify ownership information. To authenticate the veracity of the seller’s claims, cross-check land deeds and mutation records with a legal expert.
In addition, check the survey records and tax receipts to ensure that all property taxes are current and that the property is clear of liens.
2. Document Preparation
Both the buyer and seller must gather their documentation, such as identification proofs, updated pictures, and tax receipts.
Prepare the saf-kabala deed, which serves as the property purchase deed and includes all transaction details. This deed must be properly prepared because it will serve as the primary registration document.
3. Payment of Fees
The registration process involves several fees, including:
- Stamp Duty: Typically, 4% of the property value is in urban areas and 3% in rural areas. This is a government-mandated fee that authenticates the transfer of property rights.
- Registration Fee: This fee, usually 2% of the property value, is paid to the Sub-Registrar’s Office to process the registration.
- VAT (Value Added Tax): Buyers are required to pay 1.5% of the property value as VAT, ensuring compliance with national tax regulations.
- Legal Service Fees: These vary based on the complexity of the transaction and are paid to legal professionals assisting in the registration process.
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Visit Sub-Registrar’s Office
The next step is to go to the Sub-Registrar’s Office with all of your prepared documentation.
You will submit the documents and go through biometric verification to validate your identity. At this stage, pay all applicable fees and confirm that all records are put correctly into the system.
4. Obtain Registered Deed
When the registration process is completed, you will receive the registered deed.
This document is the formal documentation of your ownership and serves as an important legal safety for your assets. Keep this document secure, as it will be needed for future transactions or legal verifications.
Tips for a Hassle-Free Registration
The flat registration process in Bangladesh can seem complicated, but with proper preparation and expert guidance, you can avoid unnecessary headaches.
Engage a Legal Consultant
To minimize future legal issues, a legal expert will check that all of your paperwork is in order, verify their authenticity, and guide you through the procedure.
Request a Detailed Contract from Developers
To avoid misunderstandings, always sign a clear, detailed contract outlining terms such as price, payment schedules, and dates.
Double-Check Fees and Taxes
To avoid overpayment, carefully evaluate all fees, including stamp duty, VAT, registration fees, and legal service charges. Confirm the exact amounts with your consultant.
Keep Copies of All Documents
Keep copies of any important documents (deeds, receipts, and tax returns) for future reference or potential transactions.
Conclusion
It’s important to stay disciplined and aware in certain aspects of life, as this will help you lead a life of peace and security, much like building a strong foundation that no one can disturb.
Similarly, when registering your flat, proper planning, the right legal guidance and thorough attention to detail will ensure the process goes smoothly, giving you peace of mind knowing your property is legally secured.
As the real estate market in Dhaka, particularly in sought-after locations like Bashundhara or Jalshiri Abason, neighborhoods continue to grow, choosing a reliable developer who understands the complexities of the registration process is essential. If you’re looking to buy a flat in Dhaka, Kopotakkho Homes Limited is a trusted name in the area.
Frequently Asked Questions (FAQs)
Can I register a flat if the property hasn’t been approved by RAJUK?
No, registering a flat in Dhaka requires the property to have RAJUK (Rajdhani Unnayan Kartripakkha) approval. Without this approval, the property may not comply with urban planning regulations, and its registration will be considered invalid.
Is there a deadline for completing flat registration after purchasing a property?
Yes, there is a legal requirement to complete the registration within a certain period after purchasing the property. Ideally, you should aim to register your flat within 3 months of the purchase. Failing to do so could lead to complications in proving your ownership rights and may even result in financial penalties.
Do I need to be physically present for flat registration?
Yes, both the buyer and seller are typically required to be physically present for the registration process. Biometric verification is part of the process, and both parties must sign the relevant documents in front of the Sub-Registrar. If either party is unable to attend, legal representatives with Power of Attorney can act on their behalf.
Can I register a flat under a company name or just an individual’s name?
Yes, a flat can be registered under a company’s name, especially if the property is being purchased for commercial purposes. The registration process will involve the company’s legal representatives providing the necessary documents, including the company’s certificate of incorporation, authorization, and tax records.
