Guide to MahaRERA Registration

The real estate regulatory authority (RERA) regulates and governs real estate sectors and their activities. The real estate regulatory authority of respective states and union territories was established by the introduction of the Real Estate (regulation and development) Act, 2016. Real estate regulatory authority works in buyers' interest and protects them from the unfair practices prevalent in the market. RERA legislation regulates the conduct of builders and their agents by registering their intent to purchase and seeks a timely report on the devel...

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Real Estate Law

Property Law in India

Property law in India affects everyone in society, regardless whether they are wealthy or poor. Property law oversees the connections between the members of society about tangible and immaterial objects. Property law in India refers to the ideas, norms, and procedures that govern the resolution of property disputes and the structuring of property transactions. Property law differs from other laws because it deals with the connections between and among members of a society about items like a factory or diamond ring and intangible items such as stocks and...

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Real Estate Law

Leasing- A Complete Guide to Renting Your Property

Leasing is a generic phrase when negotiating the land or property. Therefore, when individuals decide to rent out their flat or property, they could choose leasing. Notably, people would miss out on minor details of a lease agreement, causing a commotion. Both the tenant and the landlord should be aware of their rights and liabilities to avoid stumbling blocks and enjoy a smooth transition such that the landlord safeguards his priorities. A tenant enjoys the property he rented. Leasing concept Meaning Leasing is when a person, through a contract, con...

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Real Estate Law

Transfer of Property: Prohibited Properties

As you may be aware, land in India is a state topic. Therefore, states have the right to establish laws and regulations governing property ownership and title transfer procedures. States also inform particular land areas that remain state property despite being given to the general public on a leasehold basis. Section 22A of the Indian Registration Act, 1908, governs properties on the forbidden property list in India. In Telangana, for example, barren government lands, WAQF, and endowment are frequently listed on the restricted property list. Followin...

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Real Estate Law

Facts to know about a Mortgagor

Every person is aware that for a loan to be approved, he/she must provide some form of collateral. Individuals can mortgage their properties with a bank. The mortgagor is the person receiving the loan, whereas the mortgagee is the person providing the loan. If authorised for a loan, the mortgagor should produce a credit application and accept the mortgage terms. The mortgagee is in charge of determining the loan terms, regulating its servicing, and managing the title rights to the property asset. Meaning of 'Mortgage' A mortgage is a loan used to buy ...

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Real Estate Law

A Complete Guide To Residual Value

For a business, selling an asset is a lengthy procedure. Assets depreciate after a given amount of time, and you must dispose of or sell depreciating assets. Fair market value frequently are used as the basis for determining any item's residual worth. The residual value has a unique position in depreciation calculations and accounting. The residual value is equally important as other elements such as asset cost, depreciable value, and usable life in guaranteeing a legitimate accounting procedure. The residual value of an asset is an estimated amount a ...

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Real Estate Law

Concept of Land: Land Laws in India

'Land' refers to and comprises soil, structures, meadows, waterways, marshes, minerals, and other natural resources. land extends indefinitely from the earth's surface to everything that extends upwards (airspace) or downwards (such as minerals found beneath the surface). India's land laws are mainly dealt with under the Transfer of Property Act, 1882. This Act does not define the phrase 'immovable property'. The properties not included in the definition of immovable property are standing wood, growing timber, or grass. The most significant land law en...

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Real Estate Law

Land Reforms in India – Reforming Land Ownership and Regulation

The term 'land reform' involves regulation of land ownership, operation, leasing, sale, and inheritance. In an agricultural economy like India, land reforms are critical from an economic and political perspective. Land reforms in India are a government initiative to assist those living in difficult circumstances and its objective is to transfer land from people who have surplus land to people who do not have any land, thus benefiting the neediest members of society and ensuring fair land allocation. As pledged during the struggle for independence, the ...

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Real Estate Law

how to hire best lawyer for property disputes

Property lawyers are indispensable in case of disputes. Here's how property lawyers can help you. Numerous property disputes are reported in India. Therefore, the selection of the best strata lawyer to resolve your problems is critical. Researching lawyers from a pool can assist you in making an informed decision. Resolving disputes can be time-consuming. Therefore, the selection of the best lawyer for property disputes is critical. What is a property dispute? A property dispute is a legal squabble over real estate. The dispute could be any property, ...

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Real Estate Law