Prepayment before home loan disbursement
Prepayment before home loan disbursement
Hi, I'm a salaried employee working in IT sector. Planning to buy a under construction new flat from builder valuation of around 28 lakhs. Upfront while booking i had to pay 20% as down-payment and pl
3 months ago
A. Dear Client,
Before buying a property through a home loan you need to review the status of title and encumbrance status of the under-construction property including the approved building plan, joint development agreement, POA and your CIBIL record based on which a Bank sanctioned home loan to the applicant and the terms and conditions of the draft Agreement to sale usually made out by the Builder protecting their interest. Both these steps are crucial before agreeing with the Builder, because y ...ReadMore
Regarding unregistered property
The plaintiffs went to court with exchange deed which was unregistered and not admissable in court.Their property is mortgaged and not told to the defendents.The lawyers are not forthcoming.The final
3 months ago
A. Dear client,
As an exchange deed must be registered to have legal validity, participants must pay stamp duty and fee at the time of the registration of the deed. Rates of stamp duty vary from state-to-state. Failure to disclose occurs when a home seller deliberately withholds or conceals material facts about the property from the buyer. A material fact in real estate refers to any information that could significantly impact the buyer's decision to purchase the property or affect its value. If t ...ReadMore
Poor Construction Quality of Flat
I purchased a flat in Ahmedabad at ₹172000 + ₹20000 maintenance in 2022 and got possession in 2023. Now I found that there are several cracks on walls, and damps on walls. Also, I feel that poor q
4 months ago
A. I can offer some general guidance on what you might consider doing in such a situation. It's important to consult with a legal professional for advice tailored to your specific circumstances and jurisdiction.
Document the Issues:
Take clear photographs of the cracks, dampness, and any other issues.
Gather any documents related to the purchase, construction, and maintenance.
Contact the Builder/Developer:
Notify the builder/developer about the issues in writing.
Request them to inspect and rec ...ReadMore
How much it will cost to register RWA under 1959 act & transfer of legal rights?
Recently we were forming the RWA as promoter denined to register the RWA under 1959 co-op society, asking us to do our self, and he is interested to do transfer of deeds as per 1972 only. And also he
4 months ago
A. Dear Client,
To register the Residents' Welfare Association (RWA) under the 1959 Cooperative Society Act, you would typically need to follow a set procedure. Begin by preparing the necessary documents, including the application form, memorandum of association, and bye-laws. Consult with a legal professional to ensure compliance with the specific requirements outlined in the 1959 Act. The cost of registration can vary based on factors such as legal fees, stamp duty, and registration charges, so i ...ReadMore
Stamp Duty On Collector land from first buyer
Dear team, Our society registered in 2008 and got possession of land from collector in 2008/9. I got flat from society with allocation letter on society letter head, I have a approval from collector
4 months ago
A. Dear Client,
Firstly try negotiating with the buyer and SBI. Remember, legal and financial matters can be complex and vary based on local regulations. Seeking professional advice from a real estate lawyer and possibly a financial advisor can provide you with the best guidance for your specific circumstances. You can surely go to High Court to seek justice.
floor sanctioned issue
Hi, I am planning to book one property (flat)..however as per rera and approval layout plan only 5 floors sanctioned as of now for one of the wing. However builder is taking booking for 14th floors an
4 months ago
A. Dear Client,
Transferable Development Rights (TDR) is a zoning technique aimed at preserving plots of land with permanent conservation value, which does not contribute to the approval of additional floors in a building under construction. If the construction includes illegal floors or deviations exceeding 15% of the total sanctioned plan area, it may be denied an Occupancy Certificate, potentially rendering it illegal. Building bye-laws are subject to the regulations of each state and can vary b ...ReadMore
Mumbai Parking charges
Hi , I have a specific question related to parking charges that can charged by society for multiple 2 wheeler. To start with , our society has no dedicated parking slots for members -- It is first com
4 months ago
A. Dear Client,
The legality of charging different parking fees based on the number of two-wheelers in a society often depends on local laws and the rules and bylaws of the specific housing society. Check the society's bylaws and rules regarding parking charges. Societies typically have their own set of rules that members are expected to adhere to. Familiarize yourself with local municipal or housing society regulations regarding parking fees. There might be guidelines or restrictions in place. If ...ReadMore
Can one sell a Property registered in the name of deceased parent without doing a property transfer to one's own name first
Hi, For a residential property - land and house thereon, owned by a deceased Hindu parent (passed away without a will) with property still registered under parent's name, any suggestions on the best w
4 months ago
A. Dear Client,
In India, when a Hindu person passes away without a will, the property is typically inherited by the legal heirs according to the Hindu Succession Act, 1956. The legal heirs, in this case, would be the children. The property can be distributed among the children, and then they can collectively decide to sell it. The legal heirs may need to obtain a succession certificate from the court to establish their right to the property. This certificate is often required for transferring asse ...ReadMore
Sarfaesi Act 2002
How can we validate a property if an X person purchased a property via auction under the Sarfaesi Act 2002? and If X person wants to sell the property to Y person what all documents that needs to be v
5 months ago
A. Dear Client,
wThe major issue with bank auctions is that you won’t have access to property records for title searches before purchasing. Banks are reluctant to divulge a lot of information. The bank’s only goal is to sell the property. So, buying a house or property at a bank auction involves potential risks. As part of their due diligence, buyers must conduct a title search and verify the property’s ownership. Banks neither take possession of the property nor take on any liability for it ...ReadMore
Redevelopment of an private land with 100 house
I live in thane in a chawl.the area is 300sqft and I am a tax payer and some of having area of 150 sqft. The land is an private land of madhya pradesh government but builder has occupied 20 to 30 hous
5 months ago
A. Dear Client
Clustered development Scheme offers multifarious advantages in the form of energy conservation, open space preservation, environmental protection, design flexibility, lowered construction costs, recreational opportunities, and neighborhood development. Cluster zoning is a type of zoning used to create a mix of housing types and uses in an area. It is typically used to increase housing density, promote mixed-use development, and preserve green space. Garden homes and townhouses are ...ReadMore
