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Online rent agreement registration It is easy to create a rent agreement online. You can get a rent agreement online instantly just by filling in the required details. After the online rental agreement is created, it will be sent via mail to both the landlord and tenant. Both parties are required to sign the same.  The online rental agreement procedure is not only convenient, but also cost-effective. Many websites now provide rent agreements online, where both parties have the option to sign the contract digitally. The signature of both parties is required after the payment for the service has been made and the rent agreement has been created online. The parties can digitally sign the agreement, or it will be sent via mail to them. After they sign the agreement, both parties will be able to download the online rental agreement. The rent agreement needs to be printed on stamp paper or have an e-stamp affixed on the front page. While both parties can take the registration appointment...

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 verification by both landlord and tenant, the draft rent agreement document needs to be printed on a stamp paper of INR 100 or above. Both parties need to visit the Sub-Registrar’s Office under whose jurisdiction the property comes, for the registration of the agreement. After the payment of the stamp duty and registration charges at the office, the rent agreement is generated. Both the parties and witnesses will be asked to sign the document before the Sub-registrar. Important documents that are required for rent agreement registration are a document mentioning the property details, proof of addres...

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 registrar. Some of them are listed here- Nobody would want to get tangled in a legal problem. There is a need for a proper legal agreement before giving out a property for rent. If the rent agreement document is registered, you will save yourself a lot of legal trouble. One of the most important benefits of registering the rent agreement is that there is a piece of legal evidence about the same. If either party gets into any kind of legal dispute in the future, this registered rent agreement will be a vital document that can help them to get out of unwanted legal hassle. You cannot benefit from gov...

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 problems in the future: The terms which can lead to the eviction of the tenant are not specified. The lock-in period and termination are not mentioned. The lock-in period is the minimum period till which the tenant cannot vacate the property. The notice period before terminating the agreement also needs to be specified.  Not mentioning the amount of rent to be paid, mode of payment, and any other charges. Clauses related to subletting of property and power of attorney are not mentioned.

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 between them are very common in India. Having a rent agreement is important to resolve any such issues. Before we look at the house rent agreement format and the procedure for online rent agreement registration, let us understand the rights of the landlord and tenants in India. Landlord rights in India Landlord rights are protected by the rental laws prevalent in India. The landlord can evict the tenant under certain situations like a breach of the rental agreement, not paying rent on time, misuse of the property, conducting any illegal activities, or subletting the whole or part of t...

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 options while in ready-to-move-in properties the options become less. Since you are paying a much lower price for your house, the appreciation is likely to be higher. As the construction progresses, the price of your property also increases. The value of the property will go up by the time you get the possession. Outlining some of the basic advantages of such an under-construction home, Traditionally, it is the price-point increasing over some time – from booking to until one gets possession of the unit vis-à-vis the growth once the property is handed over. Historically, the price-poin...

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, followed by Gujarat with 9,689 projects and 2,695 agents, and MP with 4,016 projects and 935 agents. Andhra has 2,248 projects registered. The neighboring state of AP has 2,248 projects registered and 151 agents. In addition to these, there are 10 states where over 1,000 projects have been registered, including UP, Tamil Nadu, Bihar, Chhattisgarh, Punjab, Rajasthan, and Karnataka. Puducherry had the most registrations (194) among Union territories, while the national capital Delhi had only 34 registered projects. A total of 74,088 projects were registered with local authorities in India,...

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 the risk and gives the comfort of getting physical possession of the property. Also, since the development was ready, I had the opportunity to see the actual layout/quality of the apartment/amenities and make a decision based on that. According to a survey conducted by a leading tech-based brokerage-free real estate platform, 78 percent of the buyers preferred to invest in ready-to-move-in properties when it came to home-buying activity in 2021.  “We have seen instances in the past wherein a home that is six months away from delivery has seen no construction activity. This has left home buy...

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 typically around 0.5 % of the loan amount. Banks may also define a minimum and/or maximum charged amount. Because it is a service charge, you must also pay GST on it. The current service GST rate is 18%. The majority of banks charge a processing fee for their home loan programs. On the other hand, some banking institutions either do not charge a processing fee or waive it as a special offer. Some banks may charge different rates to salaried individuals, self-employed professionals (SEP), and self-employed non-professionals (SENP). What are the Loans with No Processing Fees A processing fee i...

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 Act, 2016,’ an effective law to deal with Benami properties has been enacted. Investing in the name of another person has consequences under Benami rules and income tax laws for both the Benamidar and the beneficial owner (the individual who gives the funds to acquire the property in the name of another). Income tax consequences for the beneficial owner (buyer) According to Section 69 of the Income Tax Act, if a person makes an investment that is not documented in the account books maintained by him, the value of the investment is presumed to be an income of the person who makes the investment...

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 sources.” Exceptions of Benami properties: The following transactions will not be considered Benami transactions: A member of the HUF holds property for the benefit of the HUF, and the consideration is paid from the HUF’s known sources of income. A person who retains property in a fiduciary position for another person – for example, a trustee for the trust, a director for his firm, a depository/depository participant for a trader (holder of shares in Demat form), and so on; An individual who owns property in the name of his spouse or child and receives payment from sources known to such indivi...

The Benami Transactions (Prohibition) Act, 1988, was enacted. This Act, for example, defined a Benami transaction as “any transaction in which property is transferred to one person in exchange for a compensation paid or furnished by another person.” The Benami Transactions (Prohibition) Amendment Act, 2016, revised the Act mentioned above to provide an effective system for the prohibition of Benami transactions. The new law allows specified authorities to attach Benami properties, which can afterward be confiscated temporarily. Furthermore, if a person is found guilty of the offense of Benami transaction by a competent court, he shall be punished with rigorous imprisonment for a time not less than one year but which may extend to seven years, as well as a fine of up to 25% of the fair market value of the property. The Benami Transactions (Prohibition) Amendment Act of 2016 became law on November 1, 2016. The old Benami Transactions (Prohibition) Act, 1988, was renamed Prohibition of ...

Benami is derieved from Hindi word that literally translates to nameless, but in this context, it means holding property in someone else’s name or even a fictitious name to hide the real identity of the beneficial owner to evade the tax and hide from Tax agencies. Benami property refers to any property that is the subject of a Benami transaction which is done on some others name to hide the property or transactions to evade the tax and hide wealth from government agencies. Section 2(8) of the Prohibition of Benami Property Transactions Act, 1988, defines this as so (PBPT Act). For the past few years, the government has worked vigorously to stake out all the illegal black money. Through various schemes like the black money act, demonetization, disclosure scheme, etc., in a similar effort, with the Benami Act, the government is putting efforts to make reforms In the illegal real estate holdings sector.    PBPT Act defines Benami Transactions as “a transaction or an arrangement i...

It is pretty much tricky and difficult to procure a home for freelancers and gig workers The clear mandate for a home loan application for the longest time has been – salaried candidate, regular payslip, F-16, ITR papers, etc. “While these criteria are preferred by most lenders since they make it easier for the lender to ascertain the ‘payment capacity of the borrower’, it is not the only tenet of ascertaining creditworthiness. Other important factors are ‘intention to repay’ and ‘asset quality/security. And these work in favor of those who don’t have stable salary statements,”. There are some special requirements when you apply for a home loan as a self-employed person: · Must have work experience of at least three years through which income has been earned, and a proof of income shared;  · Must have a positive net worth as per the net worth statement; · CIBIL score of 750+ will help you get more lending options; · Must possess a valid professional license, if there is any in yo...

Documents required to applying for conversion. Application form for Land Conversion Basic Value certificate from Sub-Registrar Ration card Pattadar Passbooks Land title deed EPIC Card Aadhar Card Procedure for land conversion  The landowner needs to submit the land conversion form online through the MeeSeva center by paying prescribed fees. After approval of the application, a competent authority (Revenue inspector) will issue a notice of demand. Mee-Seva operator will provide the Receipt of Intimation of payment for land conversion. The assessment is payable within 30 days from the date of service of demand notice . The landowner can pay a one-time conversion tax to the Government by challan. After paying the tax, obtain a copy of the challan. After-Tax payment, the Revenue officer will issue a certificate within 30 days. After the landowner receiving the certificate, he or she will have to convert agricultural land to non-agriculture purposes such as industrial, commercial, and ...

NALA means Non-Agriculture Land Assessment Act which regulates the process of converting agriculture land to Non-Agriculture and other purposes such as industrial, commercial, residential, venture development for plotting, or Construction activities for habitation, etc. Conversion of agricultural land into non-agriculture purposes by taking prior permissions from competent revenue authorities by paying prescribed tax. To cater to the misuse of agricultural land use the government has imposed the guidelines in the Telangana Agricultural Land (Conversion Of Non- Agriculture Purpose) Act 2006. The NALA Act extends to the whole state of Telangana. Revenue Deptartment is the competent authority to convert agricultural land for the non-agricultural purpose. The Revenue Divisional Officer or any officer to be notified by the Government on this behalf shall be competent to order , in respect of the lands situated within his territorial jurisdiction, conversion of land use from agricultural p...

NALA means Non-Agriculture Land Assessment Act which regulates the process of converting agriculture land to Non-Agriculture and other purposes such as such as industrial, commercial, and residential, venture development for plotting, or Construction activities for habitation, etc. Conversion of agricultural land into non-agriculture purposes by taking prior permissions from competent revenue authorities by paying prescribed tax. To cater to the misuse of agricultural land use the government has imposed the guidelines in the Telangana Agricultural Land (Conversion Of Non- Agriculture Purpose) Act 2006. The NALA Act extends to the whole state of Telangana. LAND-USE CONVERSION    No agricultural land in the State shall be put to nonagricultural purpose, without the prior permission of the competent authority .  An application for such conversion of the agricultural land for non-agricultural purposes shall be made before the competent authority in the form prescribed along with conver...

The collector of Nalgonda district is all set to put the auctioning of plots of Srivalli Township on march 14-17 with a base price of 7000 per Sq yard . The earlier upset price was 10,000 per Sq yard.  The decision was taken by the government after 3 bidding meetings. Bidders have shown interest in auctioning plots in Srivalli Township which is located on Narketpally-Addanki highway and falls under gram panchayat Yellareddygudem of Nakretpally Mandal. There is a total of 240 plots of different sizes which are 150 sq yards to 267 sq yards. The government has promised that this plotting venture developed as per DTCP norms like blacktop roads, electricity, street light, drainage, water connections, avenue plantation, etc. Bidders who are willing to bid for plots have to register and grab the opportunity.

Telangana CM KCR has made it clear that there will be no drinking water problem in Hyderabad in the future. Speaking in the assembly, he said that there are 32 lakh 600 acres of land under G.O.111. Revealing that 83 villages and 6 zones are within the G.O . He said that the twin reservoirs are protected water bodies as per G.O. 111. But Hyderabad does not need Usmansagar and Himayatsagar waters now because Krishna and Godavari waters are plentiful. KCR announced that 111 G.O.will be removed as soon as the committee report is received. In 1996, the then government declared G.O.No. 111 as a buffer zone for a catchment area of ​​up to 10 km and banned G.O. No.111 in 84 villages. Statistics show that thousands of acres of land area spread over 538 square kilometers. Earlier, Chief Minister K Chandrasekhar Rao had said that it would take some more time for the government to decide on G.O. 111.

Hyderabad: The government has allocated Rs 29,271 crore to the Panchayati Raj and Rural Development Departments. Rs 3,330 crore for rural development. Grants of Rs 500 crore to Mandal Parishads and Rs 227.50 crore per month to Gram Panchayats. 1,054.07 crore from the State Finance Commission to the Panchayats. Panchayati Raj, highest in the budget of Rural Development Departments The government has set aside Rs 11,728 crore for support pensions. Reduced funding for interest-free loans to self-help groups under the Rural Poverty Alleviation Agency. It has allocated Rs 2,500 crore in 2021-22 and capped it at Rs 1,250 crore next year. Rs 1,460 crore has been earmarked for the Employment Guarantee Scheme. ‘PMKSY’ to Rs. 100 crores. Rs 10 crore was given to the Rurban scheme and Rs 10 crore to the Rural Livelihood Mission. 210 crores. Deendayal Upadhyaya Grameen Kaushalya Yojana got Rs 150 crore. Rs 350 crore for Swachhbharat Rural Mission.

  The Hyderabad Metropolitan Development Authority (HMDA) is permitting the construction of buildings, warehouses, etc. without taking permission from local bodies.   Structured constructions can be charged through DPMS or TS iPass without taking a permit fee . Up to 10 percent violations are allowed.   For such constructions, an additional 33 percent penalty is payable in addition to the fee. At present Ghatkesar, Medchal, Shamshabad, Shankarpalli, etc. zones under HMDA having 600 sq mtr of which 300 buildings, HMDA noted that the structures were not permitted.  As of Wednesday, 202 buildings had been completely / partially demolished.  These include warehouses and multi-story buildings. The HMDA commissioner issued an internal memo to the concerned municipalities and municipal commissioners to take strict action against the constructors. Demolished structures comply with all regulations and only if not approved 33 percent under the old law an official says the...

  GHMC has introduced (QR) code for building permission letters   which have simplified the people to carry the documents electronically and forward it who needs for verifications of bank loan procedure for home aspirants. QR coding of permissions was non-existent during the earlier online DPMS (Development Permission Management System), The QR code was introduced and enforced recently by TSbPASS (Telangana State Building Permission Approval and Self Certification System), in order to rule out forgeries and irregularities and ease any further documentation processes. Once details of the buildings are entered by the homeowners, the system automatically generates the building permission order, which will be imprinted with a QR code. The code, when scanned from a mobile, will fetch the permission letter. This will simplify the verification process by banks to issue loans, and thus help the homeowners. While all the building permissions issued under the single window system too wi...

  The High Court has issued the same order requiring registrations for plots in unauthorized layouts and unauthorized structures.   The Department of Stamps and Registrations IG issued two memos on August 26 and December 29, 2020, asking them not to register plots in unauthorized locations and buildings constructed without permission. For this reason, many have approached the High Court challenging the non-registration of such plots and structures. Counsel for the petitioners, while hearing the arguments, said that a private petition had been filed against the memos in the past and the trial court had ordered that the registrations be done irrespective of them. He said the government had approached the Supreme Court but no interim orders had been issued. After hearing the arguments and examining the precedents of the case, the court directed the registrars across the state to make conditional registrations as there are more than 5,000 such cases in the High Court and many more...

  Telangana traffic police have come up with a one-time opportunity to clear the pending challans. The   scheme starts from March 1 to 31 March 2022 is the last date   to clear all the pending challans by clicking the link  https://echallan.tspolice.gov.in/publicview/  . It has been found that 600 cr pending challans are outstanding due to the covid-19 outbreak and its effects on the economic conditions of the people. On humanitarian grounds, the traffic police have come up with discounted offers on traffic challans ie., The owners of  two-wheelers and autos are allowed a discount of up to 75% , those of  pushcarts and petty vendors up to 80% . For  RTC buses, it would be 70%  and for  LMVs, jeeps, and heavy vehicles, the discount would be 50% .  The  facility is available only for those who had been fined under any of the three commissioners Hyderabad, Cyberabad, and Rachokonda. HOW TO PAY TRAFFIC CHALLAN. Go to google or any ...

  The   scheme starts from March 1 to 31 March 2022   is the last date to clear all the pending challans by clicking the link  https://echallan.tspolice.gov.in/publicview/  . The facility is available only for those who had been fined under any of the three commissioners Hyderabad, Cyberabad, and Rachokonda. Discounts: 2-wheelers and autos  are allowed a discount of up to  75%.                          Pushcarts and petty vendors  up to  80%.                         For  RTC buses , it would be  70%.                         LMVs, jeeps, and heavy vehicles , the discount would be  50%. HOW TO PAY TRAFFIC CHALLAN. Go to google or any browser and  type e-challan Hyderabad or e-challan Telangana . You will get a window stating to fill in th...

  Hyderabad is one of the largest and fastest-growing real estate markets in India, rivaling Mumbai and Bengaluru, and other metropolitan cities. The property show which was held at hitex a two-day SBI Mega Property Show. As many as 52 companies had converged at the property show. The SBI’s Hyderabad Circle has achieved a growth of over ₹5,000 crores this year, It is soon to become the largest real estate lender in the country. “Hyderabad has good projects and it is the best time to invest in homes,”. A vast majority of those who apply for home loans, around 95%, are first-time home buyers. The HL portfolio All India is around ₹5,50,000 crore and we are likely to touch ₹5,70,000 crore by end of this financial year. Hyderabad’s real estate market has grown many folds in recent times after the pandemic. This has a positive impact on the new home buyers who avail of loans from various banks with a positive note.