Legal Guidance
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A Guide to Claiming Tax Benefits on Joint Home Loans
Buyers usually opt for joint home loans to improve their eligibility and repaying the loan easily. But claiming of tax benefits in such cases needs to be done in particular ratio. Such as according to the tax laws any individual can avail tax benefits under Section 24(b) for interest paid and under Section 80C for the principal repayment with respect to home loans. However, there is still a consid...
LEGAL GUIDANCE -
Basic Legal Checklist to Buy A Property
Buying a property is quite a tedious and complicated task as it involves a lot of documentation and legalities which is a bit difficult to understand for any common person. Buyers are often dependent on the brokers and builders to complete the legal formalities like ownership documents, regulatory guidelines or registration process. But the buyer himself should be aware of documentation and legal ...
LEGAL GUIDANCE -
Things You Should Know About the Agreement to Sell
The property market is confusing such as an amateur investor or a buyer would not know the difference between a sale deed and an agreement to sell. They sound like one or the same thing but actually they are different. An agreement to sell refers to that document which sets the terms and conditions based on which the property transaction gets completed. On the other hand, a sale deed is created...
LEGAL GUIDANCE -
All You need to Know about the Importance of Property Tax
During buying a property or a home, a buyer has to pay several taxes. Registration and stamp duty charges are one time charges while the property tax is a regular charge that the owner has to pay every year. The property owner is liable to pay the tax levied by the local body such as the municipal body and such tax is known as the property tax. The tax might vary from location to location and t...
LEGAL GUIDANCE -
How can a Buyer Overturn the ‘Forced Consent’ Agreements by the Developer?
When RERA came into force, it brought a joy with itself for the potential buyers. The unscrupulous malpractices by the builders would be put to an end and the real estate area will be fairer to the buyers. But it isn’t all fair. Some developers try to get a document signed by the buyer at the time of registration. The document generally states that the builder is free to make any changes duri...
LEGAL GUIDANCE -
Affect on Inheritance by Property Nomination
Most of us are aware of the nomination part while making investments in a bank, mutual funds, or while registering a property. The rules and implications for the immovable property for the nominee are however different than others. Indian parliament recently disclosed that the deposits of around Rs 5,124. 98 Cr was lying unclaimed by the scheduled banks in India. The amount could have been sign...
LEGAL GUIDANCE -
Everything You Need to Know about Stamp Duty and Taxation on the Exchange of the Property
Can home buyers exchange the property? Yes, they can. What are the conditions for stamp duty and taxation for the said property? We explain in detail. It is a general perception that when you buy a property, you will have to pay the cost in money. Well, it is not necessary that the transfer of property should always involve money. According to one’s requirement, they may move from a bigger pr...
LEGAL GUIDANCE -
Another Law to Protect the Interest of Buyers, Soon
This year has brought a huge relief to the buyers with a reduction in interest rates, GST, RERA. Home buyers are able to enjoy the benefits more now. Though there is still some confusion over the GST, but the government has assured that in long run GST will only bring more justice at the prices of the properties. Since there will be competition among the builder over the reduced prices, it is b...
LEGAL GUIDANCE -
All You Need to Know about Occupancy Certificate And Possession Letter
Buyers especially the first time buyers often tend to ignore or they are not aware of the difference between possession letter or occupancy certificate or what is their actual purpose. Many people get confused among both and consider both documents as the same. But that is not the case. Among all the documents occupancy certificate is an important one which buyers have the complete right to ask fo...
LEGAL GUIDANCE -
An easy Insight on TDS for Home Buyers
TDS or Tax Deducted at Source is a crucial aspect of a home buying process as the buyer needs to deduct the TDS from the transaction amount. Here are some useful facts about TDS and how it actually works. TDS refers to the tax collection system by the government under which a certain percentage of tax is deducted in a transaction or in any income generation. It is the responsibility of the pers...
LEGAL GUIDANCE
