Purchasing a home is everyone's dream so homebuyers prefer a well-known company with a clean track record to trust with their money. You may go for a ready home or an under-construction one. Under-construction homes are still popular among investors. In an under-construction property, homebuyers get a lot more home options than a completed project. They can easily choose their houses from many...
2022
Telangana is among the top four states in India in terms of a number of projects registered with the state-level Real Estate Regulatory Authority (TS-RERA).In recent times according to surveys from across India shows Telangana had 4,002 real estate projects registered with TS-RERA by February and 2,017 registered agents Maharashtra (33,154) has the most registered projects and 11,231 registered agents,...
Nowadays most homebuyers especially new buyers are looking for a safe investment which is in surveyed properties, which were ready to move in. We tend to listen like such several stories wherein home-buyers had invested in under-construction projects almost 10 years ago, and there is still no visibility of getting possession of their homes. Hence, most of them purchase a ready property as it hedges...
To process the home loan it’s a time taking and it takes a legal verification process to which the banks and NBFCs charge a processing fee as a one-time payment before initiating. Lenders charge a one-time fee for processing your home loan application. The processing charge is a modest proportion of the loan amount. The proportion may differ from bank to bank. The processing charge in India is...
Benami property taxes and penalties Benami properties are punishable not only under Benami laws but also under income tax rules. To combat corruption and black money, the ‘Benami Transactions (Prohibition) Act was passed in 1988. However, it was never implemented because the requisite laws and regulations were not put in place. With the passage of the ‘Benami Transactions (Prohibitions) Amendment...
If a spouse purchased a property with legitimate funds, buying it under his wife’s name does not automatically make it a Benami property.According to the Delhi High Court, “the existence of properties in the name of the wife will fall as an exception to the prohibited Benami transaction, as it is legally possible for a person to purchase an immovable property in the name of his spouse from known...
The Benami Transactions (Prohibition) Act, 1988, was enacted. This Act, for example, defined a Benami transaction as “any transaction in which property is transferred to one person in exchange for a compensation paid or furnished by another person.” The Benami Transactions (Prohibition) Amendment Act, 2016, revised the Act mentioned above to provide an effective system for the prohibition of Benami...
Benami is derieved from Hindi word that literally translates to nameless, but in this context, it means holding property in someone else’s name or even a fictitious name to hide the real identity of the beneficial owner to evade the tax and hide from Tax agencies. Benami property refers to any property that is the subject of a Benami transaction which is done on some others name to hide the property...
It is pretty much tricky and difficult to procure a home for freelancers and gig workers The clear mandate for a home loan application for the longest time has been – salaried candidate, regular payslip, F-16, ITR papers, etc. “While these criteria are preferred by most lenders since they make it easier for the lender to ascertain the ‘payment capacity of the borrower’, it is not the only tenet...
Documents required to applying for conversion. Application form for Land Conversion Basic Value certificate from Sub-Registrar Ration card Pattadar Passbooks Land title deed EPIC Card Aadhar Card Procedure for land conversion The landowner needs to submit the land conversion form online through the MeeSeva center by paying prescribed fees. After approval of the application, a competent authority...