Fine properties 360

Safety of the building and residents plays a crucial aspect of a high rise building in these days, where earth quakes and cyclones are quite common. To withstand these natural calamities developers must abide to safety precautions as per the modern standards. Fire safety measures:  Fire alarms, fire sprinklers system, fire extinguishers and all fire protection systems are essential points to consider when buying in a high-rise apartment. Also, the complex should have at minimum two access ways as well as an alternative staircase available to all floors; Earthquake and cyclone resistant:   High-rises need to have back-up generators so that critical systems will operate even when cut off from the main power grid. The project should also be equipped with safety measures to mitigate disasters like earthquakes and cyclones.

Vertical expansion in the form of multi-storeyed apartment complexes seemed to be the only option to create housing within dense urban cities before the pandemic. However, with homebuyers preferring larger apartments in less crowded spaces on the city’s peripheries, and some even opting for plotted developments, there has been a visible dent in the previously soaring popularity of high-rise apartments. There is a clear shift in homebuyer preferences towards independent floors in key metropolitan cities. The trend in southern cities of Bengaluru, Hyderabad, and Chennai is towards plotted developments. The supply share of high-rise projects has been on a year-on-year decline since 2019. The new demand realities of low-saturation housing projects aside, both the completion timelines and capital requirements for smaller projects are much lower.” Hence, there is no doubt that smaller-sized projects are increasingly being preferred by both, homebuyers as well as developers. ...

RERA carpet area refers to anything inside the outer walls of an apartment, but excluding the balconies,  verandah  or open terrace and shafts. It is similar to regular carpet area but, in RERA carpet area the thickness of the internal walls is included. Thus, if you compare the regular carpet area and the RERA carpet area, the actual usable space — wall to wall carpet — would be a little less in the RERA carpet area. Before buying a home the one have to know the jargon of the area defined as Carpet area, Built-up area, Super built-up area and RERA Carpet area. The  carpet area , as the name suggests, in its simplest form is the area in the house where you can lay  wall to wall carpet . That is the entire floor of the house. “Just take the floor area of all the rooms, the kitchen, living area and the bathrooms and exclude the thickness of all walls and utility ducts. Ideally, you should ask the developer for the carpet area and make the dealings based on this. The fact that yo...

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. 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...