What is property mutation?
A property mutation is simply the change of title ownership under certain conditions such as sale/purchase or death of an owner and even if the property is bought through a power of attorney (PoA).business Updated: Jul 21, 2012 02:29 IST
A property mutation is simply the change of title ownership under certain conditions such as sale/purchase or death of an owner and even if the property is bought through a power of attorney (PoA).
Through mutation, while the new owner gets the property in his name, the government is able to charge property tax from the right owner.
What’s the process?
In case of inheritance: You need to write an application and sign a Rs. 100 indemnity bond and submit these to the development authority office.
In addition, you will be required to provide a copy of death certificate, copy of the will, affidavit duly attested by notary and documents proving that property tax have been paid till date.
In case of sale/purchase: You are required to follow the same procedure. Here, the applicant will have to pay a transfer amount also. This differs from one state to another.
In case of sale/purchase through PoA: Here, you are required to provide a copy of the PoA and duly registered receipt of the payment by the sub-registrar, in addition to the above documents.
An assessing officer clears the name of the new owner after checking all the documents.
In case the property is to be divided into more than one person, the assessing officer will require the original layout of the entire building.
Devesh Chandra Srivastava
First Published: Jul 21, 2012 02:27 IST