With the growth in construction activity in India, particularly in high-rise structures, the occurrences of fire breakouts have also grown significantly. The big fire disaster at a multi-story hotel in Karol Bagh earlier this year, followed by widespread fire mishaps in Mumbai, Kolkata, Chennai, and Surat, are just a few examples of incidents that highlight the fire safety problems in high-rise structures across the country.… Read more
Common Land Measuring Units In India.
Various terminologies are used across the country to represent the extent of landed property, based on the state. It is usually recommended to have an understanding of the common land measuring units used in India in order to better grasp a seller’s offer, and the terms as stated in the land papers, and to assess the value of the property.… Read more
What is the Pradhan Mantri Awas Yojana (PMAY)?
Housing is a basic human right to which all citizens are entitled. While the wealthy and higher classes may comfortably afford to buy a property, the overwhelming majority of lower-middle-class and impoverished people cannot. In order to guarantee that every person has access to this essential requirement, the Government of India launched the Pradhan Mantri Awas Yojana (PMAY) in 2015.… Read more
Ready Reckoner Rates in Mumbai, 2022!
Ready Reckoner (RR) Rate is the lowest rate of property transactions notified by the sub-registrar office of a government. RR Rate is also known as Circle Rate in many states. It is nearly impossible to sell a property for less than the RR rate in Maharashtra. Ready reckoner rates help people figure out the minimum value of their property. People need to register their properties based on these rates, whether the property’s market value is higher or lower.… Read more
What exactly are building bye laws?
Developing a conceptual design for your ideal house is straightforward, but building it is hard. To guarantee a smooth construction process, it is critical to adhere to a set of rules and regulations known as ‘building bye laws.’… Read more
India’s top three cities for purchasing a retirement house
According to the 2021 population census, there are approximately 138 million senior persons in India, accounting for more than 10% of the population. By 2031, the population is predicted to increase by over 56 million to about 194 million, accounting for more than 13 percent of the demography. On the other side, as the youth of today moves to cities for improved life circumstances, jobs, and greater income, the notion of joint families, in which elderly folks formerly had carers, is slowly disappearing across the country. With an expanding ageing population and nuclear families, a gap in senior care services has grown.… Read more
What is Khata?
The word “Katha” is a common one in India. Although the word “Khata” means “account” in English, in the context of property and property-related transactions in Bengaluru, it essentially refers to a jail report that recognizes a specific item of property. It is a report that includes crucial information on the possession of the property. This jail sales report is required for Bengaluru residents before they may enter any exchange for personal property.… Read more
All to Know About Transfer charges in Noida
The Noida Authority reduced the switch rate by nearly half on September 24, 2021, in a move that might significantly lower the cost of purchasing resale homes. The Noida Authority decided to lower the switch of memorandum (TM) rate for the residential category, which includes flats and plots, from 5% to 2.5% during its 203rd board meeting, which was held on September 24, 2021.… Read more
How will Rent Courts resolve tenant-landlord disagreements?
According to the Act, each Union Territory and State (UT/State) government in the UT may choose to represent any number of Rent Courts in the relevant geographic area. If a Rent Court currently exists in a UT or State under another law, the same could be designated as a Rent Court under the MTA as of 2021. If there is no longer a court of this sort in a given location, then any other court established following other laws may be treated as a rent court for purposes of the Tenancy Act. If a UT/State establishes more Rent Courts in a given area, the relevant authorities may also furthermore challenge a specific decision to change the distribution of commercial… Read more
All About Depreciation of Property
An important factor in determining an asset’s depreciation is the asset’s age or the date of formation. Additionally, you might want to take it into account, especially if you’re a dealer and trying to determine the right price to charge for the assets. As was already mentioned, the value of the ground upon which the asset is built no longer depreciates. It is best appreciated with time.… Read more
