Fine properties 360

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 ...

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. 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. 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 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...

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...

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...

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...

The OC is a validation of the developer’s commitment to the safety and security of the occupants. Before a developer hands over the keys of the apartment to a home-buyer or an office premise to the occupants, He/She is required to obtain the OC of the project from the certifying authorities. For a builder today, it has become a badge of honour because it reflects his transparent and professional work ethics. It also proves that the developer has completed the project within the certified legal framework and thereby home-buyers can trust him. Given the increased awareness among home-buyers for many of such legal documents (of which they were earlier not very clear about), the OC thus conforms to the developers’ professional work ethics. In many cases, a project with an OC has been far easier for the developer to sell than those without one because buyers now prefer an absolutely clear property.” To receive the OC, it is mandatory for the developer to submit a number of vital documents t...

An Occupancy Certificate (OC) from your developer is proof of the project’s compliance to safety norms. It also certifies you as the legal owner of your property. Here’s why it is an important document for a home-buyer and developer An electronic billboard lights up the entrance of an under-construction luxury residential project announcing the countdown to the exact date that the home-buyers will receive the Occupancy Certificate (OC) from the developer and reside in their  luxury apartment  as legal home-owners. This brings the spotlight on the significance of an OC  for both, the developer and the home-buyer in a property deal.  More about OC Occupation Certificate An OC is a legal certification that declares the building – residential or commercial – as ready for occupation. It is issued to the developer of a project by the local authority within 30 days, certifying that the building has been constructed according to the approved plans and is in compliance with all the provisions s...

Vastu Shastra is an important factor that weighs in the discussion for people when buying a new house for themselves.it is a centuries-old ancient text that is still relevant for millions of people, especially in the Indian subcontinent, where it originally originated from.Vastu Shastra also dictates the positioning of furniture, rooms etc in a home so that the house attracts positivity and good vibes only.  While  buying a new house  people consider all types of factors, land, area, money value and Vastu of the house. One of the main things people tend to look into very seriously is the direction of the house. Ideally, people chose the north east direction over anyone, and the south-facing house is often a secondary house. It is due to the centuries-old misconceptions and myths that surround that people are hesitant to buy a south-facing house. But it is only that, a misconception, there is no problem with a south-facing house that cannot be corrected with the help of Va...

Annual Value:  The term ‘Annual Value’ refers to the amount that the property can fetch in a year by letting it out on the rent. In other words, it is a notional rent amount that the property owner could have earned if the property had been rented.  Municipal Value:  Municipal authorities are in charge of determining the municipal value of a property and collecting municipal taxes on it. The municipal tax is levied on the yearly renting value of a property, which is calculated after several factors are taken into account. Fair Rental Value : It refers to the rent that a property of comparable size and amenities in the same location as yours would fetch. Standard Rent:  The term “standard rent” refers to the rent established by the Rent Control Act. The purpose of standard rent is to protect the rights of both tenants and property owners. Actual Rent Received : Actual rent refers to the amount that the tenant pays out to the property owner ever...

Although it is impossible to avoid paying taxes on rental income, there is a way for homeowners to reduce their tax burden. To save a significant amount towards the tax on rental income, property owners must be aware of the various deductions available when filing an income tax return. Joint property:  The taxpayer can save a considerable amount of money on taxes if the property is purchased jointly with a family member, such as parents or spouse. This is because the rental income is proportionally split between both parties, resulting in a significant reduction in taxable income. Municipal taxes:  The Income Tax Act has allowed property owners to deduct municipal taxes such as sewage tax, property tax, and so on while performing house rent income tax calculations. Such payment reduces your tax liability to a decent amount. However, the deduction is allowed only if the tax is paid by the owner itself and not by the tenant.  Maintenance charges:  Another way to save m...

If the income from the property meets any of the conditions specified below, the concept of tax on rental income will not apply. If the landlord makes money by renting out his or her farmhouse . If the landlord rents out their property to the local authorities and receives money from them. If the landlord is receiving income by renting out their property to a government-approved and recognised scientific research association . Any rental income received from renting out property to an educational institute , a trade union, or a political party is not subject to tax on rental income in India in 2021-22 . Property owners who have rented out their property for charitable purposes are not required to pay tax on rental income. Property owners that are running their own business from the property . The concept of tax on rental income won’t apply to self-occupied property .

To do a house rent income tax calculation, the property’s Gross Annual Value (GAV) is taken into consideration. However, the landlord must deduct the standard deduction, municipal taxes, and the interest paid towards the home loan (if any). Let’s look at an example to see how this works in more depth. Assume you own a home and have rented it out for Rs 35,000 a month. You have paid Rs 25,000 in municipal tax (calculated based on the property’s Unit Area System). The house you have rented out was purchased with a loan, and you have paid Rs 30,000 towards interest. In this situation, the taxable income will be determined as follows. Parameters  Amount (in Rs.) Gross Annual Value (actual rent received in a year) Rs. 6,00,000 (50,000 × 12) Deduct Municipal Taxes (Rs. 25,000) Net Annual Value of the Property  Rs. 5,75,000 30% Standard Deduction (30% of 5,75,000) (Rs. 1,72,500) Interest on Home Loan (Rs. 30,000) Income from House Property  Rs. 3,72,5000 Since ...

It is crucial to understand when GAV comes into play before learning how to calculate it. As per Section 22 of the Income Tax Act of 1961, landlords are liable to pay tax on the property’s annual value if the conditions listed below are met. The person (taxpayer) who receives income from the property must also be the owner of the property. The term “property” refers to any land or building and not vacant land. The owner of the property should not use it for their own business or profession. Once the above conditions are satisfied, you as a landlord should calculate the property’s GAV in the following manner. Step 1:  Determine the rent you are expecting to earn from the property. Step 2:  Figure out the amount of rent you have actually received. Step 3:  Check to see if the expected rent is higher or the received rent. Step 4:  Determine how much loss you have incurred due to vacancy. Step 5:  Deduct the loss from step 3. The amount after...

When filing a return for income earned from the rented property, Section 24 of the Income Tax Act allows property owners to claim two exemptions, or say two  house property deductions . The details of the exemptions are outlined below.  Standard deduction:  A flat 30% of the deduction is allowed on the property’s gross value for any repairs and maintenance. When calculating this amount, the municipal taxes are deducted beforehand. The deduction is allowed regardless of whether the expenses you have incurred are higher or lower. The concept of the statutory deduction is not applicable if the property’s annual value is NIL. Deduction for home loan interest payment:  In the context of income from a rented property, property owners can deduct the interest on the loan that was borrowed to buy or construct the house on an accrual basis.  The interest on a home-related loan will be deducted in the amount of Rs. 1.5 lakhs or the actual interest paid, whichever is ...

Every property owner who rents out their home in return for money is considered to be making rental income. And the landlords who are making money through rental income must pay a certain percentage of their earnings towards tax.  According to the Income Tax Act of 1961, the rental income from a house or building is taxable under the head- Income from House and Property. However, if the property owner earns any income from renting out their vacant land or any other type of property, such income will be taxable under – Income from Other Sources.  Any sort of rental income from a house is taxed under the second head of the Income Tax Act, which is Income from House & Property. The tax on rental income is dealt with in sections 22 to 27. The details of these sections are outlined below.  Section 22:  This section explains the taxable income from the house and property. There is a detailed explanation of the property’s annual value as well. Section 23:  T...

According to the Income Tax Act of 1961, the rental income from a house or building is taxable under the head- Income from House and Property. However, if the property owner earns any income from renting out their vacant land or any other type of property, such income will be taxable under – Income from Other Sources.  Every property owner who rents out their home in return for money is considered to be making rental income. And the landlords who are making money through rental income must pay a certain percentage of their earnings towards tax.  If the thin line between the property’s Gross Annual Value (GAV) and rent income as a principal source of income is not established, the concept of tax-free rental income can become extremely complicated. Landlords who hold a property with a gross annual value of less than Rs 2.5 lakhs are exempt from paying any tax on their rental income. However, if such income is their primary source of income, then as per the Income Tax Act 1961 ...

Women are buying homes either for end-use or investment purposes. Real estate is now the preferred investment asset class for 64 percent of women respondents; it was 62 percent in the last study (H2 2020) and 57 percent in the pre-Covid survey (H2 2019). Present-day women portray immense desirability towards financial independence, security, and stability. They desire to lead an aspirational lifestyle and want a better standard of living for their families and themselves, and they are achieving just that through their ‘own’ home. Moreover, their home-making skills make them the most detail-oriented home-buyers. To build a better life economically   Women have always been an important part of the decision-making process of buying a home. However, over the years, we have seen women evolve from ‘homemakers’ to ‘home-buyer’. There has been a steady increase in the number of women joining the workforce over the last few decades. Besides, as the education and employment opportunitie...

Being aware of women’s legal claims to property is the first step towards achieving a more equitable and just society India doesn’t have a uniform law, it has different personal laws among other other religions pertaining to inheritance and thus, inheritance is governed by the different customary laws based on religion. The Hindu Succession Act, 2005 and the Indian Succession Act, 1925 can be resorted to in order to analyse the rights relating to inheritance by Hindu women in India. Over the years, the role of a woman has changed in society and it is still evolving – not just from an economic and financial standpoint, but also from a legal right’s viewpoint. According to the Hindu Succession Act, 1956 (HSA), daughters, widows, and mothers are considered Class I heirs. “This means that they have the first right to the property of a Hindu male dying intestate together with the son and other heirs. However, in the case of a Hindu female dying intestate, daughters (together with the s...

In the recent times post pandemic 85 per cent of the builders reported that millennials were the most active buyer segment.  Property prices reduced by almost 15-20 per cent, most of the governments reduced the stamp duty rates, and the home loan interest rates were at a decadal low. According to a survey conducted by a leading tech-based brokerage-free real estate platform, 85 per cent of the builders reported that millennials comprised the most active age group (30-40 years) when it came to home-buying activity in 2020. Shift in mindset of youngsters Before the pandemic, millennials did not believe in ‘settling down’ with a home purchase. “They found it easier to rely on on-demand services to meet their mobility needs or live as tenants, which gave them a wider range of opportunities. The pandemic changed all that. Further, it must be noted that millennials comprise a major part of the contemporary workforce and they are managing mid-to-senior level roles.   With work-from-h...

Few precautions you must take while selling a property. Don’t fall for false promises Many real estate agencies and brokers make false promises to buyers just to juggle money. You are more likely to meet such scammers when you try to sell house online. It is important to steer clear of such people, else you will end up wasting your time and money. You must also do a thorough background check before finalising an agency/broker. Do not trust blindly A lot of money is involved in buying and selling a property. Thus, you must stay vigilant at every step during the process. Even if you are selling the property to a friend or colleague, you mustn’t trust them blindly. Read all the documents carefully and understand all the clauses involved before signing them. Also, make the payment terms crystal clear and stick to them. Do not set an unrealistic price  Another thing you must keep in mind is that setting an unrealistic price for your property can land you in trouble. This way, you might ...

Documents required while buying and selling a property: Sale deed The original sale deed is needed to seal the deal. Sale deed from all the previous owners is required at the time of selling a property. In case it is submitted at the registrar’s office, then you ought to provide the copy of the deed as well as a copy of the receipt from the sub-registrar. Building plan A copy of the approved building plan should also be kept handy as it helps establish that the structure is as per the legal norms. Occupation certificate When it comes to taking simple precautions while selling a property, you must keep the occupation certificate ready to show to the buyer. This certificate is issued by the competent authority. Agreement for sale This document is prepared at the time of selling a property. All the payment terms are mentioned in it. The amount at which the property is being sold as well as the time given to the buyer to clear the amount is mentioned clearly. Default penalty also finds a m...

Selling a house can be a major undertaking, mainly because it involves one of your most prized possessions. You surely have many emotions and memories associated with the structure that has sheltered and protected you for so long. And you have invested a lot in it too, financially. So, even though you have decided to move on or upgrade to a new home, selling your old house is not a cakewalk. Apart from the fact that you want to get good money for it, there is a lot of paperwork involved. And all the legalities or formalities need to be done right, in order to avoid any kind of hassle during or after the completion of the sale. Most important things to consider while selling a house? Reason to sell your property There are a number of reasons why you may have decided to sell your house. One of the reasons might be that you require a lump sum amount of money and soon. Another reason might be that you have outgrown the space and need to move to a bigger accommodation. Yet another reason mi...