Category: Flat

Indian law allows a person to own multiple homes. However, for all the properties taken together, the amount of home loan available to you will depend on various factors. You are entitled to certain tax benefits for buying, building, renovating, or repairing a house property. This is with respect to the interest paid on borrowed money. The tax laws also allow you to claim tax benefits for repaying the principal amount for the purchase and construction of a residential house. Tax benefit on interest payment Under section 24(b), you may claim…

The Haryana Government sets the circle rates in Gurgaon through the registrar or sub-registrar office. It states the minimum amount for purchase or registration of properties. Stamp and registration charges have to be paid according to the Circle rates or the transaction value, whichever is higher. If you want to avail loan against property, you need to know about the circle rate of your property. Factors that influence circle rates in Gurgaon: The market value of the region and the services available in that region. Market value is the actual value…

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…

Addressing the students concern College days are one of the liveliest and enriching experience for every individual.The USP of it is students tend to learn more outside the class than what knowledge they consume inside the class. It’s a phase where a boy/girl moves beyond his/her comfort zone and explore the world and gradually learn how the actual world functions. One of the close aspects of college life is accommodation. The majority of people migrate from their hometown to cosmopolitan cities like New Delhi, Mumbai, Ahmadabad, Chennai, etc. For Instance, 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…

A Ready Reckoner Rate (RRR) is the standard value of an immovable property assessed and regulated by the respective State government in which the property is established. Here, the word immovable property encompasses residential property, commercial property, and land/plot. In a bid to ensure an accurate valuation of real estate properties, all the State governments publish area-wise rates of properties on a yearly basis known as Ready Reckoner Rate (RRR). Also, referred to as Circle Rate, a RRR differs across States, cities, and localities. The RRR acts as a benchmark below…

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…

While bequeathing an immovable property through a will, a testator should clearly specify the share of each person to the exclusion of others, in order to avoid disputes Proper succession planning is very important to ensure that the assets owned by you, including any house property, are properly inherited by the people to whom you want these to be passed on to. With respect to property owned in housing societies, it is generally believed that making a nomination will ensure that the property will pass on to the person who is…