Property registration
Through a notification, Reserve Bank of India asked all the commercial banks in India to exclude the stamp duty and registration charges from the evaluation of the value of any property. So from now onwards the stamp duty amount needs to be paid by the buyers. Banks will not add the amount in the home [...] Continue Reading »
The Mumbai State Government has decided to promote for a n amendement in the Indian Registration Act(IRA 1908). The government wants to authorize banks to register propertydocuments, license agreement, mortgage deed and hypothecation certificate. The state MPs will consider the proposal in the upcoming Parliament budget session. According to a senior official that this delegation [...] Continue Reading »
Land deals and regularization of properties have been made easier for common man in Gujarat. According to a new scheme by power of attorney (PoA) route, which has been worked out by the state government will be helpful for its residents. This step was taken into being because there was no sign of many original [...] Continue Reading »
The property registration numbers has seen a major backdrop in Mumbai city. Since April 2011 the property rates have seen a sharp rise by 10 percent. The Prabhudas Lilladher report in Mumbai say that on monthly basis the property registration numbers have declined by 12 percent. Real estate experts say that there is minimum percentage [...] Continue Reading »
Real estate is the second largest employment generating sector, which will be hit by the decision to increase repo rate by the Reserve Bank of India for the third time since May this year. Out of total price of a flat, some 36% amount goes as tax to the government. Since March 2010, the RBI [...] Continue Reading »
The ministry of urban development has suggested doing away with the current system of registration and transfer of property. Property holders across India may get a unique identity number or UID that not only streamline and organize India’s outdated land records, but also reduce the burden on courts by enabling faster resolution of property disputes. [...] Continue Reading »
The Reserve Bank of India (RBI) decision to raise key policy rates by 25 basis points can dent sales of homes in the country. Over the last six months, builders have been witnessing a decline in registrations for homes and the latest round of hike is seen adding to their worries. Over the last 15 [...] Continue Reading »
Registration of property transactions has witnessed a steep decline in the capital. In nearly all districts, the sub registrar offices have seen the number of registrations come down sharply. New norms in registration of property transactions is the reason for decline in the number of registrations. The state government has made it mandatory to produce [...] Continue Reading »
By January 2011, all property owners of Bangalore will get their updated unique Property Identification (PID) numbers.The new PIDs will be a complete identity of your property. Currently, only properties in core areas have PIDs – majority of them still have the old ward numbers and there’s no uniformity in digits.After January, one can access [...] Continue Reading »
The state government of Mumbai has decided to interlink all sub-registrars’ offices to curb scams. The move will curb instances of a single flat or a property being registered in names of multiple buyers. Once the offices are interlinked, registration officials will be able access all the records pertaining to a particular property at the [...] Continue Reading »
