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Builders have no right to sell stilt parking: Supreme Court
The Supreme Court has ruled that builders/promoters cannot sell parking areas as independent units or flats as the same is to be extended as “common areas and facilities” for the owners. A bench of Justices R M Lodha and A K Patnaik in a judgment rejected the argument of a real estate development company that [...]
Continue reading...LEGAL REMEDIES - India property guide for NRIs and PIOs
28. August 2010
Given the risks and money involved in buying and selling property in India, NRIs and PIOs must refer to the RBI’s guidelines from time to time The real estate sector in India is becoming an increasingly attractive option for investments promising good returns, for both Indians and NRIs. Given the money/risks involved, the importance of making [...]
Continue reading...JOINT DEVELOPMENT OF PROPERTY
28. August 2010
ASHISH GUPTA outlines some legal conditions to enter into this agreement Joint development is a popular method of development of property. Here, an owner of a site and a developer come together to enter into an arrangement to develop a property jointly. In case the owner of a site decides to develop the property on his [...]
Continue reading...Case against DLF, HUDA
24. August 2010
YOUTH DEATH Criminal negligence case lodged after father of victim complains A case of criminal negligence has been filed against officials of DLF and Haryana Urban Development Authority (HUDA) in the DLF City police station on Sunday on the basis of a complaint by the father of the victim. Meanwhile, in the wake of mounting public anger [...]
Continue reading...India Wins Property Tax Battle with New York City
18. August 2010
India has won a seven-year legal battle with New York City with a federal appeals court ruling that nations with diplomatic housing do not have to pay city property taxes. The unanimous ruling by the federal Second Circuit Court of Appeals in Manhattan Tuesday lets India off the hook for $42.5 million in back taxes [...]
Continue reading...LEGAL REMEDIES - Gifting immovable property
14. August 2010
Where an immovable gift consists of the donor’s entire property, the donee will become personally liable for all of the donor’s debts and liabilities, which exist when the gift (the donor’s property) is given to the donee There are numerous modes through which an individual can transfer his immoveable property to another, such as by sale, [...]
Continue reading...Buying a farmhouse?
14. August 2010
Those aspiring to buy farmhouses in Delhi would do well to go through the Master Plan Delhi 2021 thoroughly to ensure they don’t get duped into ER UNA picking up properties in the `unauthorized’ zones, advises Vandana Ramnani Forty-year-old Shiv Mohan is a Delhi-born Bangalore-based corporate executive who recently cashed the ESOPS allotted to him by [...]
Continue reading...Flat-buyer cheated of carpet area gets relief
7. August 2010
A Vile Parle resident who paid for a 800 sq ft house in Malad but actually got only a 682.50 sq ft flat has finally got a reason to smile. The consumer forum in an order passed this week ordered the secretary of the housing society to pay him Rs 1.13 lakh (deficit amount) along with [...]
Continue reading...Builder to pay complainants
28. July 2010
The State Consumer Disputes Redressal Commission, Chandigarh, has directed M/s Castle Concrete Infrastructure Pvt Ltd to pay a compensation of Rs 1 lakh to each of the three complainants for suffering mental agony as the company did not construct flats in time and also did not refund the deposited amount. The company has also been directed [...]
Continue reading...Woman has no right to home owned by in-laws
26. July 2010
NO INTERIM RELIEF HC rules it is difficult to consider a woman’s matrimonial home as shared household if it is not owned by the husband Ahouse owned by a woman’s in-laws cannot be considered a“shared household” the Bombay High Court has ruled. The highcourt recently stayedanorder ofamagistrate court reserving a bedroom for a woman,who had left her [...]
Continue reading...LEGAL REMEDIES - Say no to the `entry fee’
24. July 2010
How appropriate it is for the co-operative housing societies to levy extra charges on new buyers before inducting them as members? When a buyer acquires residential property in a cooperative housing society (`society’) through the instruments of either Power of Attorney or Agreement for Sale from its original allotee, he has the right to become a [...]
Continue reading...After 37 years,man gets back Dadar flat in 6 min
22. July 2010
SC ORDER Tenant has to vacate 550 sq ft home in 6 months Thirty-seven years after his father filed a caseto get his ancestral property vacated, Dilip Kale finally wonbackthe Dadar house on Wednesday within six minutes. The Supreme Court’s bench of Justice Markandeya Katju andJ ustice T.S.Thakurordered Kale’s tenant to vacate the 550 sq ft flat [...]
Continue reading...CHB told to pay complainant
20. July 2010
Chandigarh Housing Board (CHB) has been directed to transfer the dwelling unit and to pay to the complainant interest at 17 per cent per annum on Rs 1, 56,551 for the period it had kept the money on Monday. It has also been ordered to pay Rs 50, 000 as compensation and Rs 5, 500 [...]
Continue reading...Capital Gains Accounts Scheme
10. July 2010
Tax payers who would like to invest in residential property or in constructing residential property so as to save tax in respect of long-term capital gains can take advantage of Capital Gains Accounts Scheme For all those tax payers who derive longterm capital gains, a lot of tax planning can be adopted by taking advantage of [...]
Continue reading...All you need to know about the Base Rate
10. July 2010
What is the base rate (BR)? It is the minimum rate of interest that a bank is allowed to charge from its customers. Unless mandated by the government, RBI rule stipulates that no bank can offer loans at a rate lower than BR to any of its customers. How is the base rate calculated? A host of factors, [...]
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- Builders have no right to sell stilt parking: Supreme Court
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- Consumer Affairs Ministry Gives Green Signal to 49% FDI in Multi-Brand Retail
- Maharashtra Govt Prohibits Use of Petrol Pump Land for Real Estate Purpose in Mumbai
- 6 Chennai Projects Get Top Ratings from CRISIL
2. September 2010
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