Mutation is the method of change of title ownership from one person to another when the property is transferred or sold.
What is the difference between mutation and registration?
Registration means here the property is actually transferred from one person to another.
Mutation means the name of taxpayer as entered in property tax records. Once the document is registered, then based on the document, the buyer can get his name mutated in the municipal or revenue tax records.
Why Is Mutation Of Property Important?
Once you have completed a real estate transaction and registered the property in your name, it is important for you to also get a mutation of property done in government records. So that you could pay the property tax on time, avoid any penalty, and interest that might accrue.
How to apply for mutation of property online in Hyderabad?
- The applicant should submit the relevant documents to the concerned Deputy Commissioner / CSC for Mutation / Transfer of title, which are got registered prior to 01.06.2016.
- The Mutation Fee i.e., 0.1% of Market Value shall be paid through Demand Draft in favour of the Commissioner, GHMC.
- The concerned Tax Inspector should verify the premises before change of name physically and verify whether the existing property Tax of the premises is as per Bench Mark rate or not. In case of any under-assessment, the property tax shall be revised as per rules.
- The Deputy Commissioners, will approve the mutation, subject to payment of all property tax dues.
- Mutation Proceedings shall be served to the applicant.
- Notice of transfer under Section 208 of GHMC Act, duly signed by both the Vendor and Vendee.
- Attested copies of property documents and link documents.
- Latest Encumbrance Certificate.
- Non-Judicial Stamp paper for Rs.20/- for each copy of document.
- Undertaking on Notarized Affidavit cum indemnity bond on Rs.50/- stamp paper.
- Up to date Tax Receipt.
- Copy of Death Certificate / Succession Certificate / Legal Heir Certificate.
- Mutation Fee @ Rs.0.1% of the Market Value.