A draft of the rent agreement document needs to be made and it should include the following information: Name and permanent residential address of both landlord and tenant, details of the property being given on rent, duration of the rental agreement, amount of monthly rent, and security deposit payable and any other terms and conditions that the tenant or owner have agreed upon. After...
Registration is the process of making a record of the agreement with an authorised government body. This process is essential because, in case of any dispute, only the rent agreement which is registered is admissible as evidence in a court of law. It is important to get a registered rent agreement with the authorised registrar. There are many benefits of registering a rent agreement with the...
The various details that are listed in a rent agreement document include information of both the parties, details about the property, the mode of rent payment, the notice period and the lock-in period duration, all the things included in the house like lights, fans, geysers, etc. Let us look at some of the common mistakes people tend to make in a house rent agreement format which can lead to many...
A house rent agreement document is a legal contract between the landlord and tenant for a fixed amount of time. It has a list of terms and conditions, which are agreed to and need to be followed by both parties. The rent agreement is renewable according to the timeframe mentioned in the contract. Most of the time, it is seen that the landlord and tenant relationship is a complex one, and conflicts arising...
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...
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...