What is a sale deed?
A sale deed is the registered document that transfers ownership of a property from seller to buyer. It is stamped and registered with the sub-registrar, and it is the buyer’s main proof of title.
Also called conveyance deed, deed of conveyance.
The agreement for sale is a promise to sell on agreed terms; the sale deed completes the sale. It describes the property, the price and how it was paid, and transfers the title.
For a new flat, the order is usually: booking, agreement for sale, construction and payments, occupancy certificate, possession, then the conveyance. In some states and building types, the building or the land is conveyed to the buyers’ society or association rather than flat by flat, and the individual flat is held through membership.
Stamp duty and registration fees are paid on the deed unless state law has already collected them on the agreement. Keep a register of which buyers’ deeds are executed and registered, with the document numbers: banks, resale buyers and the association will all ask for them.