Introduction to Strata Title Strata Title is a form of ownership where individual ownership is combined with shared ownership of common areas and facilities. This concept is widely used for apartments, townhouses, and commercial spaces in many parts of the world, including Australia, the UK, and Canada. However, in India, the concept is relatively new but increasingly relevant with the growing demand...
Real Estate
Introduction to Soft Launch in Real Estate In the Indian real estate market, the term "Soft Launch" is synonymous with "Prelaunch." It represents a crucial phase in the lifecycle of a property development project. Developers use this period to introduce a new project to a select group of investors or buyers before officially launching it to the broader public. Understanding the concept of a soft launch...
When purchasing property in India, it's essential to ensure that all legal aspects are clear and transparent. One such critical step in the property transaction process is the "Requisitions on Title." This is where the buyer formally requests additional information from the seller regarding the title of the property. Let's dive into the details of this process and its significance in the Indian real...
What is a Qualified Covenant? A Qualified Covenant is a legal restriction placed on a property or land that limits the rights of the owner or any party with an interest in the property. Unlike absolute covenants, which impose strict, unchangeable obligations, a qualified covenant includes conditions under which the covenant can be lifted or modified. This type of covenant is typically included in deeds...
When purchasing property in India, understanding the various payment plans available is crucial. One of the most popular payment plans is the Possession Linked Plan (PLP). This plan offers a structured and phased payment process that can ease the financial burden on buyers while ensuring that developers maintain progress on construction. What is a Possession Linked Plan (PLP)? A Possession...
What is a Kick-Out Clause? A Kick-Out Clause is a provision included in a real estate sales contract that gives the seller the option to accept an initial buyer's offer but also allows them to back out of the deal if a better offer comes along. This clause is designed to protect sellers from missing out on potentially better offers while still engaging in the initial transaction. How Does a Kick-Out...
Understanding Indenture: Definition and Purpose An indenture is a formal legal document that outlines the agreement between two or more parties. It is commonly used in real estate transactions, financial agreements, and various other legal contexts. Each party involved in the indenture holds a copy of the document, ensuring that all parties have a clear and binding record of the agreement. Key...
What is HVAC? HVAC stands for Heating, Ventilation, and Air Conditioning. It refers to the technology systems used in buildings to regulate indoor climate, ensuring comfort and air quality. In India’s diverse climate, HVAC systems play a crucial role in both residential and commercial properties. The Importance of HVAC Systems in India 1. Climate Control India's varied climate ranges from...
What is a Greased Leaseback? A greased leaseback, often referred to as a "geared leaseback," is a financial arrangement where a property owner sells their property but retains the right to lease it back. This leaseback is structured with rent payments linked to a variable metric, such as market rent or property income, rather than a fixed amount. Key Features of a Greased Leaseback 1. Variable...
What is a Greased Leaseback? A greased leaseback, also known as a "geared leaseback," involves the sale of a property by a freehold or leasehold owner with the lease terms structured so that the rent is tied to a fixed percentage of some variable metrics, such as market rent or income. This arrangement allows the original owner to continue occupying or using the property while paying rent based on a...