Category: DDA

What is circle rate? Circle rates are minimum rates for property registration transactions notified by the sub-registrar or registrar’s office. It is different for each place and varies according to the place. In this article we will be taking a look at the circle rates of Delhi. Significance of circle rate Circle rates are significant because they are used as a factor while determining the price for property values during a purchase or sale. Financial institutions also use it before they sanction a mortgage loan. Residential Plots’ circle rates in Delhi…

The new process of online property registration in Delhi has helped people get things in no time. The old traditional way was time-consuming and complicated; the Delhi government introduced an online registration portal to ease the procedure for registration of property in the city. To know more about the online property registration process in Delhi, read on here. Online Property registration in Delhi is a crucial part of a real estate transaction as only a well-executed registration permits the transfer rights to the buyer and proves his legal ownership of the property. However,…

If you are looking to know Stamp Duty in Delhi then you are at the right place. Generally, stamp duty charges and property registration fees differ from one State to another. These charges are levied at the time of registration of a property. Paying such charges authenticates a homebuyers’ ownership of the property. Hence, it is mandatory to pay stamp duty and to register your property. Propertyyy.com shares an insight into the costs involved in Delhi stamp duty. If you are looking to know Stamp Duty in Delhi then you are…

There are several charges that go into making the total cost of an apartment. From parking space charges to club membership costs, here is more. We have compiled a list of the general hidden cost of buying a home, flat or apartment. One must be aware that there are several hidden cost of buying a home over and above the advertised price of the property. While the hidden costs may vary from one society to the other, inevitably every property will have several cost factors. In some cases, these costs may…

The government levies a compulsory tax on the transfer of rights in a property, known as ‘stamp duty’. We examine how it is calculated and ways to save money on this tax amount The government levies a tax when there is a transaction of property (i.e., when a property changes hands, from the seller to the buyer). This tax is known as ‘stamp duty’. It is levied on residential and commercial property transactions, as well as freehold or leasehold properties. Stamp duty is levied by states and therefore, the rate varies…

As the law allows a person to own multiple homes and avail of multiple home loans, we look at the implications on tax exemptions on the home loan for the second house There is no restriction on the number of properties you can own. Similarly, there is no restriction on the number of houses for which you can take home loans and claim tax benefits, either under the tax laws or banking laws. However, the amount of home loan available to you for all the properties taken together, shall depend on various factors…

A gift of a property that is valid and accepted by a donee, cannot be revoked by the donor, except under certain special circumstances. We look at the cases where revocation is possible With many children opting to migrate out of India for employment and the gradual disappearance of the joint family system, parents with limited means may find it difficult to make ends meet, in case their children do not support them. Often, many parents also transfer their properties to their children due to various reasons. After the property is…

If you want to know what is RERA, then this post is for you. This post summarizes basic information about RERA and how exactly it will going to help the Indian citizen. The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute redressal. The…

There is no denying the fact that home buying is emotionally gratifying.  In fact, we will not be exaggerating if we said that more than often, the purchase decision is emotional than rational. Many a time, we are so moved by the rush of these emotions that we enter the territory without doing any prior preparation.  Even if everything turns out alright in the end, the process is so harrowing for a naïve buyer that they are left feeling wearisome. This buyer also runs the risk of the investment turning bad…

The Delhi Development Authority (DDA) has announced that it will refund the registration amount of the unsuccessful applicants of its Housing Scheme 2019, in a week’s time. Apart from this, the successful applicants can also exercise the option of surrendering the allotment or getting a refund of the registration amount without any deduction, up to 15 days from the date of issue of demand-cum-allotment letter, issued on the DDA’s website. According to media reports, around 3,000 applicants have already surrendered 1BHK flats at Narela, due to a shortage of public transport…