As you buy a new home, these questions will answer all common queries about buying and owing a property in India. Use this guide to acquaint yourself with rules, laws and important information.
NRIs can also be:
Non-resident Indians become residents of India once they come back to India to engage in employment, for carrying on any business or vocation, or for any other purpose indicating a definite intention to stay in India for an indefinite period.
By registering the transaction of an immovable property, it becomes permanent public record. Title or interest can be acquired only if the deed is registered.
If you purchase a new flat within two years of the date of sale of the original flat and invest the entire amount of capital gained into the new flat, you will not have to pay any capital gains tax.
For instance, 70 per cent tenants out of a total of 32 tenants are ready to form a co-operative housing society.
There is no new provision in the new Rent Act regarding the prescribed percentage of tenants willing to form a society.
Approach the Registrar of Co-Operative Societies and file the various relevant documents.
A notice is sent to the tenant, failing which a court case may be filed. It usually takes 10 to 20 years to reach a verdict.
Yes, tenants of an old, repaired building can form a co-operative housing society without the landlord's permission. Assume there is a lease agreement for 6 years for a shop with a built-in escalation clause at the rate of 20 per cent after 3 years. The lease expires on a specified date say, March 31, 2000 and the concerned landlord has sent a written letter. It is always advisable to make a new agreement with the landlord.
There is no prescribed norm for determining the market rent rate though it can be easily found out by approaching individuals such as brokers, registration authority, etc.
The first step towards buying a property starts from being able to identify the one that suits your needs and fits your budget. With best rates and best quality homes, Godrej Properties offers you a perfect home. However, it is important to select the property depending on following criteria:
|Parameter||Questions to be asked|
|Location Of Site||While choosing the location, you need to keep the following parameters in mind like proximity to the main roads, bus stops, railway lines, transportation services, civic amenities like educational institutions, park, police station, temples, community hall, hospitals, and auditorium within reach.|
|Affordability||Does the location fit your budget?|
|Place of work||How far is the office from the desired location?|
|Market place||Where is the nearest market?|
|School||Where is the nearest school?|
|Public transport||Are buses/trains easily available from the location?|
|Builder||Does the builder have a good reputation in the market?|
|Availability of water and electricity||Is there a steady supply of both?|
|Residential/ commercial||Commercial areas face traffic jams during working hours and level of noise is rather high|
|Hospital/ Medical services||Are they available easily?|
|Society expenses||Is the monthly outgo on the society and maintenance a strain on your budget?|
|Security||Are the security systems in place, like a professional guard or electronic systems?|