There is a common maxim in Latin “caveat emptor” or “let the buyer beware”. A descriptive meaning of this as per Wikipedia is “the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made”. This is applicable in real-estate deals also, where the onus is on the buyer to ensure that the property under consideration meets the “quality and suitability” of the buyer. Read More
Although applicable at multiple junctures, this article focusses on those aspects of Stamp Duty and Registration that come into play when a property is exchanging hands, i.e. a buyer purchases a property by executing 2 documents; one is the “Agreement To Sell”, that is eventually followed by a “Sale Deed”. Both these documents are critical in order to claim absolute ownership of the property [topic of another article from RealDocs coming shortly].
A Khatha is a government issued property document, which provides description of property details such as size, exact location, built up area, the name of the owner, etc.
It is a document which mainly records the assessment of a property for a property tax perspective. This certificate is kind of identification of the person who is primarily liable for payment of applicable taxes for the property.
Generally, the document name differs from state to state. For instance, in Mumbai it is known as the Property Card, in Delhi it is called Mutation Document, while in Bangalore it is known as Khatha Certificate. Let’s talk the Bangalore Khatha Certificate in more detail. Read More
So you found your dream property, and now deciding whether it is a right investment or not. One of the criteria for your analysis should be the status of the property’s documents, and whether or not they comply with the local authority’s requirements.
To help you with this analysis, we’ve identified 6 documents that we think you should ask for and examine, regardless of the city you are in. Read More
The newly enacted Real Estate (Regulation and Development) Act, 2016 (the “Act”), is a welcome and much awaited step towards transparency and effectiveness in the realty sector. The Act intends to regularize the real estate practice by setting up proper legal structure, imposing liabilities and obligations on the developers, in order to protect the interest of buyer’s rights and to bring accountability on the developers for both commercial and residential real estate projects. Here’s a synopsis: Read More