Legal Guidance
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Losses Covered under Home Insurance
Most often when taking the home insurance, the insurers assure us that they will help in the time of need. For instance, under any unfortunate circumstance you house caught fire, and now you want the insurance company to pay for the damages. The insurance company can refuse to pay for it claiming the particular accident was not covered in the clause when you very well knew that your house was insu...
LEGAL GUIDANCE -
Second Wives and their Share in the Property
According to the Hindu Succession Act, 2005, the daughters have equal rights to the property after the demise of their father. In case of ancestral properties, one can claim for it any time in their lifetime. If your father remarried and had a family afterwards, a daughter still has equal rights on the property. According to the law, Class I heirs can claim the property in case a person dies in...
LEGAL GUIDANCE -
NOCs to Check With the Developer before Buying the Property
The sparse availability of space in both the Tier I and Tier II cities are crushing the dreams of owning independent houses. The buyers are forced to look for flats or group housing concepts to buy a house. The concept of group housing or a gated community might not sound flattering, but it comes with the advantages that the independent housing will not able to provide. NOCs make a huge part on...
LEGAL GUIDANCE -
Twenty Percent Parking Space To Be Designated for E- Vehicles
The green environment, clean environment agenda has taken a new spot in the last few years. With more and more people choosing to buy battery operated vehicles to save the environment from CO2 emission that contributes to pollution. Even the government is supporting the move, and the Ministry of Housing and Urban Affairs recently issued a guideline for the developers. Both the commercial as well a...
LEGAL GUIDANCE -
To Increase the Sales, the Lending Norms Must be Relaxed: NITI Aayog
The real estate sector has not seen the sales surge that was expected after the demonetization and cutting of the interest rates. The sales in the sector were even affected by the introduction of new rules and regulations. Introduction of RERA was aimed at giving the buyers a one-stop solution to all their grievances. Even it couldn’t impress the buyers to take a plunge in the real estate sector...
LEGAL GUIDANCE -
What Happens to NCDRC after RERA?
Since Real Estate Regulation and Authority (RERA) have come into full force, the expectation of the buyers has increased folds. RERA is focused on making it easier for the buyers by taking stricter actions against the developers who exploit the interest of the buyers. It also aims are removing the discrepancies that are there for buying and selling of the property. Before RERA, the buyers did n...
LEGAL GUIDANCE -
HC: Stay on Government Order - Exempt Real Estate Projects From Environmental Clearance
The Delhi High Court has passed a passed a stay order on notifications of the environment ministry by which the latter has been planned to ease green norms for real estate projects. Recently, a notification was published that the ministry has said that any residential projects with a built-up area between 20,000 and 50,000 square meters (sqm) would not need an environmental clearance. The min...
LEGAL GUIDANCE -
Know about Facts of a Co-Borrower in Home Loan to Claim Ownership
India is now witnessing several joint ownership of properties for many reasons. However, did you know that joint ownership differs from the joint home loan? One who is a co-owner may not be a co-borrower. Know about some common myths about co-ownership and co-borrowing Most of the lenders insist the home loan borrowers go for joint home loan to cover the risk of non-payment for the propertie...
LEGAL GUIDANCE -
Did You know that Selling Property through GPA is Illegal?
The Supreme Court passed an order in 2011that transferring any property title through general power of attorney (GPA) will Np not be considered as valid. Here are some pointers about GPA. Types of power of attorney Power of attorney (PoA) is the right given to a person by someone to execute specific legal as well as financial business on their behalf. NRIs use it commonly to represent some...
LEGAL GUIDANCE -
Using your Basement for Residential Purpose is Illegal
You can observe that nowadays many new constructions have a basement space. A basement is to use it for storage or parking. However, many use it for commercial purpose by renting us. Well, you must know that renting a basement is illegal. Know About Basement According to building bye-laws, a basement is the lower storey that could be entirely or partially under the street level of a buildi...
LEGAL GUIDANCE
