Fine properties 360

After Chief Minister K Chandrasekhar Rao announced the repeal of GO 111, the MAUD Department issued G.O 69, lifting the various restrictions imposed under para 3 of GO 111. This makes the 10-km radius comprising 84 villages, around Osmansagar and Himayatsagar open to all kinds of concretisation works. The G.O also announced the formation of a committee headed by Chief Secretary Somesh Kumar, which has been given nine terms of reference to frame detailed guidelines and submit a report at the earliest. The GO 69, while lifting the restriction, stated the water quality of reservoirs must not be impacted. “The government has decided that the restrictions imposed under para 3 of GO Ms 111 are removed, subject to the condition that the water quality of these two reservoirs shall not be impacted in any manner whatsoever and all efforts will be initiated by the government to improve the water quality of these two reservoirs,” reads the GO. The GO 69 further mentions that when the GO 111 was is...

The HMDA has planned to lay a road to ease traffic congestion on the eastern parts of the city, HMDA would lay a 16-km road from Peerzadiguda Kaman (NH-63) to Pratapa Singaram. The 150-metre wide road would facilitate diversion of traffic via Gowrelli (Ghatkesar) towards the Outer Ring Road. The road would de-congest traffic at Uppal junction. The radial road is being planned along River Musi within the buffer zone of 100 metres. The porject will be part of the River Musi Front Development. This road would facilitate smooth flow of traffic on the Warangal-Hyderabad route. The project would be executed utilising funds from the Japan International Cooperation Agency. HMDA would require 100 acres for the road and has pooled 200 acres.

About 36,000 Waqf properties in Telangana will be geo-tagged in the next six months, a project that will be taken up by the Indian Institute of Technology (Hyderabad) and the Jawaharlal Nehru Technological University (JNTU). The expected geo-tagging will be completed by September end of this year. The Central Waqf Council, Ministry of Minority Affairs, as part of its ‘Quami Waqf Boards Taraqqiati Scheme’ planned to undertake Geo-Tagging of the Waqf properties across India. The deadline for the project was revised from March 2022 to November 2023. The project was started in the year 2017 and for various reasons, its implementation got delayed. “All the Waqf estates will be covered. There are around 36,000 in Telangana and GIS/GPS mapping will be done,”. A major part of the project will be taken up by the IIT Hyderabad while JNTU will take care of the remaining, or about 10 percent of the task. “The TS Waqf Board staff will assist in identifying the propertie...

The state government’s plan to revoke GO 111 may lead to severe climate change in Hyderabad says experts. Environmentalists warned that the city’s weather will turn extremely hot from the current mild weather. Sagar Dhara, an advisor to the United Nations environment program (UNEP) and a member of the Supreme Court for the environment expressed his concerns over the Telangana government’s decision to revoke GO 111. “If GO 111 is revoked, the city will perpetually face the flooding situation and the water which accumulates in the Himayat Sagar and Osman Sagar will flood the low-lying areas of the city. The city will witness deluge-like conditions every year. The softening of soil may further lead to landslides which may cause havoc in many parts of the city,” Dhara said. The chief scientist of NGRI Dr. B Ramalingeshwara Rao along with Dr. Baburao and Sagar Dhara stated in their report that GO 111 is not only safeguarding the city’s water reservoirs but...

Telangana government on 26 April 2022 has announced that the State Cabinet has approved to Cancel/ Repeal the G.O. 111 which was issued in the year 1996 to protect the catchment area of Osman Sagar and Himayat Sagar from construction activities around the water bodies. G.O. 111 was issued to Protect and cater to the drinking water needs of the people living in the Greater Hyderabad Region. The state government stated they had overcome the issues with drinking water and had since created adequate alternate water resources. Utilizing the Sunkishala Intake Project and Mallanna Sagar, Hyderabad will not face a water crisis for another 100 years. The GO affects 83 villages and 1.32 lakh acres, and it will be tough for the residents to adapt if it were to be lifted at once. A committee has been appointed which is headed by the Chief Secretary along with officials of the Pollution Control Board (PCB) and state Forest Department to make a master plan to protect the tributaries of the Musi Riv...

THE TELANGANA PROTECTION OF DEPOSITORS OF FINANCIAL ESTABLISHMENTS ACT, 1999. (ACT NO.17 OF 1999) This Act may be called the Telangana Protection of Depositors of Financial Establishments Act, 1999. It extends to the whole of the State of Telangana. In the brief introduction, the act has defined a few important definitions for a clear understanding of the act. Here  “deposit”  means the deposit of a sum of money either in lumpsum or installments made with a financial establishment for a fixed period, for interest or return of any kind.   “Financial Establishments”  means any person or group of individuals accepting a deposit under any scheme or arrangement or in any other manner but does not include a corporation or a cooperative society owned or controlled by any State Government or the Central Government or a banking company as defined under clause (c) of section 5 of the Banking Regulation Act, 1949. If the accused is with a motive to cheat and not return to the ...

THE TELANGANA PROTECTION OF DEPOSITORS OF FINANCIAL ESTABLISHMENTS ACT, 1999. (ACT NO.17 OF 1999) This Act may be called the Telangana Protection of Depositors of Financial Establishments Act, 1999. It extends to the whole of the State of Telangana. In the brief introduction, the act has defined a few important definitions for a clear understanding of the act. Here  “deposit”  means the deposit of a sum of money either in lumpsum or installments made with a financial establishment for a fixed period, for interest or return of any kind.   “Financial Establishments”  means any person or group of individuals accepting a deposit under any scheme or arrangement or in any other manner but does not include a corporation or a cooperative society owned or controlled by any State Government or the Central Government or a banking company as defined under clause (c) of section 5 of the Banking Regulation Act, 1949. If the accused is with a motive to cheat and not return to the ...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Other states that do not have this facility will have to take the following steps:  Visit the office of the sub-registrar where the property was registered.  Fill out Form and submit it to the sub-registrar’s office with a non-judicial stamp or prescribed fees.  Make sure the form includes the complete residential address, property location, property descriptions, property survey number, and the property’s exact measurements and boundaries. Include copies of pertinent documents, such as the Sale Dee...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Other states that do not have this facility will have to take the following steps:  Visit the office of the sub-registrar where the property was registered.  Fill out Form and submit it to the sub-registrar’s office with a non-judicial stamp or prescribed fees.  Make sure the form includes the complete residential address, property location, property descriptions, property survey number, and the property’s exact measurements and boundaries. Include copies of pertinent documents, such as the Sale Dee...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Choose the option to use for an EC on the official land registration website of the particular State.  At the application for encumbrance certificates window, fill in all of the needed fields, then click save/update.  After entering the search period for which you require the EC, click on ‘Calculate Fee.’  You’ll be sent to the ‘Acknowledgement’ window after paying the necessary application charge and filing it. By selecting ‘View Acknowledgement,’ you wi...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Choose the option to use for an EC on the official land registration website of the particular State.  At the application for encumbrance certificates window, fill in all of the needed fields, then click save/update.  After entering the search period for which you require the EC, click on ‘Calculate Fee.’  You’ll be sent to the ‘Acknowledgement’ window after paying the necessary application charge and filing it. By selecting ‘View Acknowledgement,’ you wi...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. In general, an encumbrance certificate is required in the following situations:  EC for purchase: When buying a home, a non-encumbrance certificate is required to prove that you are dealing with the right person and that there are no outstanding loans on the property.  EC for loans: When you apply for a home loan to purchase a home, banks will often want an encumbrance certificate before accepting your application.  EC for the removal of PF: If you use your provident fund to make a down payment on a h...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. In general, an encumbrance certificate is required in the following situations:  EC for purchase: When buying a home, a non-encumbrance certificate is required to prove that you are dealing with the right person and that there are no outstanding loans on the property.  EC for loans: When you apply for a home loan to purchase a home, banks will often want an encumbrance certificate before accepting your application.  EC for the removal of PF: If you use your provident fund to make a down payment on a h...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. When you apply for an Encumbrance Certificate, you will be asked to mention the period for which you need the data.  If there are no charges set on the property during the mentioned period, a “Nil Encumbrance Certificate” will be given. This means that no moneylender has placed a lien on the property throughout that time period. 

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Buying a home is stressful, and purchasers frequently become confused by the various legal documents. The most prevalent misunderstanding is the difference between EC, CC, and OC. Refer to the following to understand the critical differences between the 3:  Encumbrance Certificate (EC): A legal document stating that a property is free of financial or legal liabilities.  Completion Certificate (CC): A legal document that is produced once the building has been completed according to the building plan and oth...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Buying a home is stressful, and purchasers frequently become confused by the various legal documents. The most prevalent misunderstanding is the difference between EC, CC, and OC. Refer to the following to understand the critical differences between the 3:  Encumbrance Certificate (EC): A legal document stating that a property is free of financial or legal liabilities.  Completion Certificate (CC): A legal document that is produced once the building has been completed according to the building plan and oth...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Types of EC   A buyer can receive one of two types of encumbrance certificates which are categorized based on encumbrance  FORM 15?(Encumbrance certificate)  16th Form (Non-encumbrance certificate)  Form 15: If the property’s sale, mortgage, or other deeds are registered with the corresponding region’s sub-registrar, this sort of encumbrance certificate is given. It provides all property transaction information in the owner’s name for a given time period. Form 15 also inclu...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. An EC for a specific time period contains a list of all registered developments associated with the property that occurred during that time period. An Encumbrance Certificate of a property can be obtained for a period of up to 30 years.  Note that if you request an EC for a specified time period, you will only receive the details for that time period. The subtleties will come from the register areas that can be accessed through the sub-register. 

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The following points show the importance of an Encumbrance Certificate:  The Encumbrance Certificate would represent the property’s legal and financial links, such as whether the owner has taken out a loan against it. The EC must reflect If the property is involved in a legal dispute. Purchasing a home is such a significant investment, buyers should check for any encumbrances that may be transferred to them along with the property ownership. Obtaining an “Encumbrance Certificate” for a property assures a buyer that there are no financial or non-financial liabilities such as liens, existing debts, or ...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The following points show the importance of an Encumbrance Certificate:  The Encumbrance Certificate would represent the property’s legal and financial links, such as whether the owner has taken out a loan against it. The EC must reflect If the property is involved in a legal dispute. Purchasing a home is such a significant investment, buyers should check for any encumbrances that may be transferred to them along with the property ownership. Obtaining an “Encumbrance Certificate” for a property assures a buyer that there are no financial or non-financial liabilities such as liens, existing debts, or ...

An encumbrance certificate is a legally issued paper or document that certifies that a property is free of all financial and legal obligations. Aside from that, it displays the property’s condition and the total number and details of its previous owners. It also contains information on previous ownership transfers and all of the property’s mortgage obligations. The encumbrance certificate cannot be obtained for properties for which the mortgage has not been completed. Apart from that, an Encumbrance Certificate is required if you intend to apply for a loan to purchase that property or if you intend to use the loan to purchase another property. If the property owner has not paid land tax to the government in the previous three years.  In the real estate sector, an encumbrance certificate is often used. The certificate verifies that a specific property is free of any financial or legal obligations, such as a mortgage or a loan. As a result, it is a major consideration whe...

 A non-resident Indian (NRI), currently residing in foreign nations owns a residential property in india, which he had purchased before moving to foreign nation. Now wishes to sell it off. However, he is unaware of the tax implications of such a transaction and misinformation is aplenty, which is not helping his cause either. So, if you too are unaware of the tax and regulations relating to the sale of house property in India, read on as our experts dispel all your doubts.  Whom to sell to? Investment/divestment in a residential property by a non-resident Indian (NRI) has to be under the exchange control rules viz., Foreign Exchange Management (Non-debt Instruments) Rules, 2019.  “An NRI can currently transfer any immovable property in India to a person resident in India. Further, he/she may transfer any immovable property (other than agricultural land/plantation property/farmhouse) to an NRI or an Overseas Citizen of India (OCI). The NRI should open a Non-Resident Ordina...

 A non-resident Indian (NRI), currently residing in foreign nations owns a residential property in india, which he had purchased before moving to foreign nation. Now wishes to sell it off. However, he is unaware of the tax implications of such a transaction and misinformation is aplenty, which is not helping his cause either. So, if you too are unaware of the tax and regulations relating to the sale of house property in India, read on as our experts dispel all your doubts.  Whom to sell to? Investment/divestment in a residential property by a non-resident Indian (NRI) has to be under the exchange control rules viz., Foreign Exchange Management (Non-debt Instruments) Rules, 2019.  “An NRI can currently transfer any immovable property in India to a person resident in India. Further, he/she may transfer any immovable property (other than agricultural land/plantation property/farmhouse) to an NRI or an Overseas Citizen of India (OCI). The NRI should open a Non-Resident Ordina...

The pandemic has accelerated the shift towards a more digital world and triggered changes in home shopping behaviours that are likely to have lasting effects When people consider buying a home, they largely rely on the opinions of the real estate broker, friends or family post which a site visit would help them to seal the deal. However, post the outbreak of Covid-19 pandemic, site visits were not feasible due to which agents and even marketing teams of big developers began to look beyond the ‘traditional means’ to reach out to buyers. Hence, technology came to the rescue of the real estate sector, and has not only led to a revival in sales, but also eased the  home-buying  process to a large extent.   An end-to-end experience The lockdown experience has invariably improved the digital literacy of people across demographics and geographies. And this shift pushed real estate brands to transition to digital platforms and coordinate with potential buyers and sellers. While w...

Although real returns from both asset classes are similar, real estate comes with the added advantage of security and long-term wealth creation. Buying something of value on a festive occasion comes naturally to Indians, and gold has long been the first choice for festive shoppers. However, many investment-savvy Indians today are questioning traditional practices and opting for assets that are better aligned with their current budget and long-term wealth creation goals.  “Since gold is such an integral part of our culture, thus people would invest in gold jewellery whenever possible. Over the years, one has 15 lakh worth of gold assets in the form of jewellery. However, when someone falling short of money to make the down payment for my dream home, it is advisable to sell a part of this asset to raise the capital. Since liquidating to invest in a long-term asset, is right. Thus, from experience I can state that gold came to the rescue when I needed it, making both, real estate...

Although real returns from both asset classes are similar, real estate comes with the added advantage of security and long-term wealth creation. Buying something of value on a festive occasion comes naturally to Indians, and gold has long been the first choice for festive shoppers. However, many investment-savvy Indians today are questioning traditional practices and opting for assets that are better aligned with their current budget and long-term wealth creation goals.  “Since gold is such an integral part of our culture, thus people would invest in gold jewellery whenever possible. Over the years, one has 15 lakh worth of gold assets in the form of jewellery. However, when someone falling short of money to make the down payment for my dream home, it is advisable to sell a part of this asset to raise the capital. Since liquidating to invest in a long-term asset, is right. Thus, from experience I can state that gold came to the rescue when I needed it, making both, real estate...

Telangana government is setting up the ‘Gateway IT Park’ project at Kandlakoya in Medchal-Malkajgiri district. The IT park building, which is slated to be developed as an iconic structure on the lines of Hi-Tec City’s defining Cyber Towers, will see the development of over six lakh sqft space with a capacity to accommodate over 10,000 people in Hyderabad’s northern area. Over 90 companies have applied for space at the IT park, and more are evincing interest. Acceptance letters were also handed over to these IT companies, primarily small and midsized players, during the ceremony. The project is being touted as the gateway to the IT hub Hyderabad as it is located in Medchal-Malkajgiri district, which connects Hyderabad and North Telangana with four key highways. These are the Medak-Narsapur highway, Adilabad-Nizamabad-Kamareddy-Medchal highway, Ramagundam-Karimnagar-Siddipet-Gajwel-Shameerpet highway and the Bhoopalapally-Warangal-Yadadri-Ghatkesar highway. ‘Gateway IT Park’ project is l...

The home-buying process can be overwhelming for the first-time buyer. Steps involved in buying a house, it’s all too easy to make a mistake and end up with an unwise investment Common mistakes can be avoided by new home buyers. ALWAYS FIX THE BUDGET, FAILING TO FIX A BUDGET IS RISKY Not having a distinct home purchase plan in place is the biggest folly of potential homebuyers. The first factor to weigh in on is your financial capacity. If you do not know how much you can afford to spend on a house purchase, you will be in big trouble later, especially if all your earnings go towards your home. It all begins with a budget, which is done after factoring in other major expenses especially if you already have other loans to repay. LOT OF RESEARCH SHOULD BE DONE, INADEQUATE RESEARCH WILL ENDUP IN GLITCHES. You stand to lose your money and your house if you do not thoroughly research the developer of the project you choose to buy a home from. There are a multitude of flyby-night builders, wh...

While there are advantages associated with resale apartments, a buyer may also face some challenges. Hence, one should buy only after conducting an in-depth research . One of the biggest perks of the resale market is that you can narrow it down to exactly where you want your home. “There are several key locations city centres across cities where there is hardly any land for new development and thus, no new projects are being developed. To live in such locations, a buyer invests in a resale flat,”. Want to buy a home within walking distance of your child’s school? Or do you want to stay close to your parents? You may not always find a new construction, but a resale flat is easy to find. To lure you to invest in a new development, developers may give you discounts and offers, but smart buyers are aware that these offers are already accounted for. Buying a resale flat means you are dealing with an individual and not a business; thus, one has more power to negotiate and get a good deal. “W...

While there are advantages associated with resale apartments, a buyer may also face some challenges. Hence, one should buy only after conducting an in-depth research . One of the biggest perks of the resale market is that you can narrow it down to exactly where you want your home. “There are several key locations city centres across cities where there is hardly any land for new development and thus, no new projects are being developed. To live in such locations, a buyer invests in a resale flat,”. Want to buy a home within walking distance of your child’s school? Or do you want to stay close to your parents? You may not always find a new construction, but a resale flat is easy to find. To lure you to invest in a new development, developers may give you discounts and offers, but smart buyers are aware that these offers are already accounted for. Buying a resale flat means you are dealing with an individual and not a business; thus, one has more power to negotiate and get a good deal. “W...

Having an OC from the developer offers you a host of benefits besides making you the legal owner of your property. Besides, it also works to your advantage if you plan to sell your home in future.  “A buyer must ideally get an OC from the concerned builder once construction is complete and ready to be occupied,”. “Given that during property registration OC is not a mandatory document and has no linkage to the process, it ironically prompts buyers to consider OC to be of less significance. However, without an OC, the owners may sometimes be deprived of essential civic amenities like electricity and water. In worst cases, one can be evicted from the property, especially if the project has seriously faulted on the environmental rules. Hence, ideally buyers must ensure that builders give them the OC before they occupy the house. Most importantly, OC is a mandatory document for those buyers applying for a home loan. Alternately, those selling their ready property without an OC can’t pro...

Having an OC from the developer offers you a host of benefits besides making you the legal owner of your property. Besides, it also works to your advantage if you plan to sell your home in future.  “A buyer must ideally get an OC from the concerned builder once construction is complete and ready to be occupied,”. “Given that during property registration OC is not a mandatory document and has no linkage to the process, it ironically prompts buyers to consider OC to be of less significance. However, without an OC, the owners may sometimes be deprived of essential civic amenities like electricity and water. In worst cases, one can be evicted from the property, especially if the project has seriously faulted on the environmental rules. Hence, ideally buyers must ensure that builders give them the OC before they occupy the house. Most importantly, OC is a mandatory document for those buyers applying for a home loan. Alternately, those selling their ready property without an OC can’t pro...