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Faq

  • What are the risks associated in buying a flat on Power Of Attorney (POA) basis?

    Purchasing a flat on a POA basis is not permitted.
  • Is a POA revocable?

    Yes, a POA can be either revocable or irrevocable, depending on what sort of a POA one has made.
  • Does availing of a teaser loan make sense?

    Availing of a temporarily discounted home loan without taking a protracted view of ones financial position is not advisable. One should be aware of the manner in which ones finances will be affected after the teaser period is over and real-time lending rates kick in.
  • Is there any way by which I can claim exemption from tax on capital gain?

    Several options are available for saving capital gains. For example, in the first place invest in a residential house property or a flat to make investment so as to see that capital gains are exempted. Likewise, if a person were to make the investment in REC or NHAI bonds then also he enjoys complete exemption from the long-term capital gain payable by him in respect of capital gains due.
  • What are the risks involved in residential property investment?

    The risk factor in real estate investment lies in the possibility of buying at a higher price and having to sell at a lower one in a depressed market. It is also risky to try time the market to discern the 'best' time to invest. Much like in the stock market, it is impossible to predict the point of lowest ebb in the real estate market. The danger in delaying investment too long is two-fold - firstly, one may lose out on the best properties, and secondly, the market may pick up ahead of one's predictions, meaning that the lower rates may no longer be available.
  • In whose name are the stamps required to be purchased?

    The stamps are required to be purchased in the name of any one of the executors to the Instrument.
  • Which are the instruments that attract the payment of Stamp Duty?

    The instruments like Agreement to Sell, Conveyance Deed, Exchange of property, Gift Deed, Partition Deed, Power of Attorney, settlement and Deed and Transfer of lease attract Stamp Duty on market value of the property.
  • Does it make sense to buy a home now?

    That depends on ones actual objectives and level of need. If one is a first-time home buyer, attempting to time the market makes little sense. Any correction will be a brief phenomenon, and prices inevitably rise again. This is a risky game that only investors should play.
  • What are all the important documents one should check before buying any property?

    While purchasing a property, you have to look at the approved layout plan, approved building plan, ownership documents, carryout title search, etc.
  • What exactly do we mean by a Free Hold flat? What are the advantages and disadvantages, if any?

    A freehold property flat is one where there is a whole and sole owner/s, ownership is full and unconditional and there is no lessor / lessee involved.

realestate glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
  • Abatement notice

    A notice served on the owner(s) or occupier(s) of a property from which a private nuisance arises, warning them of the intention to enter on the land in order to abate the nuisance.
  • Absolute title

    The right of ownership of a mortgage deed, which gives the right, in certain specified circumstances, to demand repayment in full, of the outstanding debt than the due date. Or a clause in a deed or contract, which provides for the early termination of an exciting interest in land, in certain specified circumstances, thereby advancing the future interest.
  • Agreement for lease/sale

    A contract to enter into a lease (or sale), which in order to be enforceable either must be evidenced in writing and signed by the person against whom action is taken for the breach of the alleged contract and there must be a sufficient act of part performance.
  • Alternative user value

    The value of land and buildings which reflects a prospective use which is different from that of the current use.
  • Anchor tenant

    One or more department or variety chainstores, or supermarkets, introduced into a shopping centre in key positions to attract the shopping public into the centre for the purpose of encouraging other retailers to lease shops en route. The larger the developments the more anchors required.
  • Asset valuation

    In the property market this expression is applied to the valuation of land and buildings or plant and machinery. The term is often used to describe an expert opinion of the worth of a property which may be incorporated into company accounts, where the ownership of the asset is not necessarily to be transferred but the valuation is required for the company takeovers, share flotation or mortgages.
  • Assignment

    The transfer of a property interest, especially a lease, from one party to another.
  • Atrium

    An entrance hall of a building, often rising through a number of storeys and containing lifts, reception areas and plants. Originally the hall or chief apartment of a Roman house.