Besides technical details about the area, one should verify the building plan approved by Municipal Corporation or such other competent authority, commencement certificate, ownership documents (title documents) etc. If it is a resale flat then verification of further documents such as Share certificate, Rent receipts, Maintenance receipts etc. becomes necessary. Verification of Occupancy Certificate is also important wherever applicable. However, this is a professional job and the services of a competent advocate shall be used for the same.
All transactions that are like conveyance or transfer of immovable property of the value of Rs. 100/- or more have to be affected by a duly stamped and registered document. The entries relating to these transactions are recorded with the Registrar of Assurances concerned. The Encumbrance Certificate is an extract of this book for the period requested.
Unless the parties have agreed to the contrary, the liability of paying stamp duty is that of the buyer.
The stamps are required to be purchased in the name of any one of the executors of the Instrument.
Market value means the price at which a property could be bought in the open market on the date of execution of such an instrument. The Stamp Duty is payable on the agreement value of the property or the market value whichever is higher.
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Yes. We have tie-ups with some of the leading banks in the country such as the HDFC Bank, the ICICI Bank, the Axis Bank, LIC India, Bank of Maharashtra, Indiabulls and PNB.
Before purchasing property from a company, it is necessary to verify with the Registrar of Companies that the property is not mortgaged or is not being used as a security against a loan, otherwise it is not considered a freehold property.The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area that is actually used and in which a carpet can be laid. When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area.
As per RERA, the agreement of sale must be registered before the receipt of 10% of the total sale consideration by the builder/developer.
The amount to be paid will be scheduled as per the rules mentioned by RERA and as per the agreement between the developer and the purchaser.
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