Property transactions
The Bruhat Bengaluru Mahanagara Palike (BBMP) has planned to install a biometric system in order to make flawless issue of permanent khatas (property ownership documents) and to eliminate corruption in property transactions, including doctoring of khatas. This move will safeguard the genuine property owners’ interests. The fingerprints will be matched in order to authenticate the ownership. [...] Continue Reading »
The dipping rupee value in the past few months has brought a lot of cheer to Non Resident Indians. The Indian real estate market has now turned sluggish and the depreciating rupee adds more power to NRIs dollars and leads them to acquire properties at cheaper rate. Anuj Puri, chairman & country head, Jones Lang [...] Continue Reading »
The Bihar assembly has passed on Bihar Apartment Ownership (Amendment) Bill, 2011 in order to settle disputes between the builders and property buyers. This bill is expected to bring in more transparency in the property transactions. The Urban Development minister Prem Kumar presented the bill in the assembly house and all the members present there [...] Continue Reading »
Mumbai government is shocked and worried to see a major slump of real estate for the fiscal year 2011. The overall revenue target for the current fiscal account has been reporting a major drop down. The eastern suburbs have traced a major drop in the real estate transactions. Rising property rates, inflationary pressures and constant [...] Continue Reading »
Property card is a new mantra from now on and it will no more be “Khata certificates“. According to the property holders in Bangalore city, the way government maintenance of property papers is turning situations from bad to worse. If any property buyer wants information on their property from the Bangalore Development Authority (BDA), its [...] Continue Reading »
The Federation of Sector Welfare Associations Chandigarh (FOSWAC) has hailed the Supreme Court’s decree that any immovable property transferred under the General Power of Attorney (GPA) will be considered illegal. The Federation observed that the decree will hit hard to unscrupulous property transactions. In its observation it also mentioned that the law will serve to generate [...] 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 »
All real estate transactions will have to be reported to the country’s anti- moneylaundering agency once the government amends a key law that seeks to curb black-money transactions. The government plans to amend the Prevention of Money Laundering Act , which will require property registrars to file data of transactions recorded by them with the [...] Continue Reading »
