In a typical real estate deal, most buyers and sellers give attention to ownership titles, sale deeds, and registration. Important as they are, there is another step, often overlooked, called the mutation of property. Knowing this term is essential if you have recently acquired a piece of land or inherited property to avoid legal trouble and assert your rights as a bona fide owner.
In India, property mutation is a legal procedure that changes the government land revenue records and updates them when there is a change in ownership, such as through sale, inheritance, gift, or partition. With this blog, Srijan Realty’s urban projects will help you understand what mutation is, its steps, and its relevance.
Mutation of a Property
The mutation of property is the process of transferring the ownership of a particular property in the records of the local municipal authority. However, the sale deed proves ownership and mutation showcases that the change in the revenue records is to be maintained by municipal bodies or government departments.
Why Mutation of a Property is Important
The mutation of property is crucial for real estate buyers or home buyers, as they can use it in future as well.
Legal Recognition
A mutation provides legal recognition of the ownership change, and without the records of the government, it still shows the previous owner as the rightful titleholder.
Tax Assessment
Tax liability belongs to the new owner, assessed by the local municipal body after mutation. This ensures to provide an accurate property tax calculation benefiting from the mutation of a property systematically.
Avoid Future Disputes
Through Mutation, you can prevent conflicts with heirs, third parties or co-owners, as it helps in establishing a clear ownership trail in official records.
Essential for Further Transactions
Whether you decide to mortgage, plan to sell or lease your property, an updated mutation record is always mandatory by the authorities or banks.
Types of Mutation
- In case of a mutation for agricultural land, one needs to have updated revenue records for tax collection and ownership.
- Flat mutation is done for local municipal bodies to update their records for urban homes.
Kolkata has been evolving rapidly with the help of real estate developers like Srijan Realty, where application for mutation of land or flats has become a necessary step after you purchase land or want it for inheritance.
Process of Land Mutation: Urban vs Rural
The land mutation process differs in the properties present in urban and rural areas. In rural areas, the land revenue department takes care of mutation, and on the other hand, urban areas have local municipal bodies to manage flat mutation and residential land records. For better insights, it is important to take help from reliable developers like Srijan Realty, who are experts and guide people through a transparent transition, so that you can have a seamless ownership transfer in township projects.
FAQs
- How is mutation different from property registration?
Mutation of a property is a different property registration. The mutation is updating the ownership of property in government revenue records, whereas property registration refers to the legal transfer of the ownership through a sale deed.
- How to apply for a land mutation?
To apply for land mutation, you need to go to the local municipal office or land revenue department, where you can submit the required documents.
- What is meant by flat mutation, and why is it necessary for apartment owners?
Flat mutation refers to the process of updating the records of the municipality that reflect the owner’s name for a flat or an apartment. However, it is important to pay the property tax to have proper ownership in the government records.
- How long does the land mutation process take to get completed?
Usually, the land mutation process takes 15 to 30 days to get completed, but based on the municipality’s documents and process, the verification speed varies.
- Is it mandatory to have a mutation certificate to sell a property?
It may not be mandatory legally everywhere, but in most cases, banks and buyers need a mutation certificate for seamless transactions, especially in cities like Kolkata.
Wrap Up
Whether purchasing new real estate, such as a flat in a metropolitan skyscraper or receiving family property, like an estate or land plot, it is critical to initiate and complete the land mutation process. Responsible proprietorship involves taking all the necessary steps, and home buyers are aided by reputable developers like Srijan Realty.
