- WHICH DOCUMENTS ARE TO BE VERIFIED BEFORE PURCHASE OF A FLAT?
Before you purchase a flat, you can have a title and document search conducted by a competent advocate. It is a professional job that can be done with professional assistance. Download Complete Information
- HOW IS FLOOR SPACE MEASURED?
Commercial premises throughout India are measured on three different bases as follows :
This is a total internal area of a premises measured from the internal walls. This would broadly equate to a standard BOMA net lettable area calculation.
Built Up Area
This is the total area of the premises measured from the external perimeter wall surfaces and incorporates an allocation of common areas on the same floor excluding lift, core and fire stairs .
Super Built Up
This incorporates built up area but also includes a proportional allocation of all common areas including stairs, lift cores, ground floor lobby, and caretakers office/flat etc. throughout the entire building and therefore usually represents an increase of 35% to 40% Download Complete Information
- WHAT IS MEANT BY VALUATION OF PROPERTY?
The valuation process evaluates the market value of the property. Demand and supply forces operating in the market, as well as other factors like type of property, quality of construction, its location, the local infrastructure available, maintenance, are all taken into consideration before the market value is decided. Download Complete Information
- HOW MUCH IS THE REGISTRATION FEES ON SALE OF IMMOVABLE PROPERTY?
The registration fee in case of sale of immovable property is 1% whichever is lower. There could be some additional charges for scanning of documents were the office of the Sub Registrar has been computerized. Download Complete Information
- IS REGISTRATION OF A LEAVE AND LICENSE MANDATORY AND WHAT ARE THE CONSEQUENCES IF THE SAME IS NOT REGISTERED?
As per Section 55 of the Maharashtra Rent Control Act, 1999 registration of Leave and License Agreement is compulsory and it is the responsibility of the landlord to ensure registration. If the same is not registered, the landlord would be prosecuted and on conviction he's subject to up to three months imprisonment or be subject to fine not exceeding Rs.5000/or with both. Further in the absence of a Registered Agreement, the contention of the tenant, about the terms and conditions on which the premises have been given to him by the landlord shall prevail unless otherwise proved. Download Complete Information
- Questions related to Power of Attorney, Leave and License Agreement, General FAQs on After Purchase, NRI