What is Mutation of Property & why is it important for buyers?
So, congratulations you have recently registered a property in your name! It is highly important that you also get a mutation of property done in the government records. What is property mutation, and why is it important? Here’s a run-through by Luxury Kerala Flats, prime real estate portal for buying flats in Kerala . Just read on... It is not enough that you complete all registration formalities for transfer of property, paid stamp duty & all home loan-related work. When it comes to paying the property tax the mutation of property becomes very important. What is mutation of property? Mutation of property or land indicates that a property has been transferred from one person to another. To fix property tax payment liabilities, the municipal body in a city keeps records of property ownership transfers. Transfer of all sorts of immovable assets like land, flat, individual home, shop, etc. are kept on record. Mutation assists authorities in fixing taxpayers' responsibilit