A document provided by the seller to the buyer at the time of sale of a property mentioning that the property has been transferred on a certain date is called a possession certificate. The possession certificate is issued by Tahsildar in rural areas and by RDO (Revenue Divisional Officer) in the urban areas.
Registering of a property needs to be carried out in cases of sale, transfer, lease, or any other way in which the property is disposed of. This is mandated under section 17 of the Indian registration act, 1908.
According to the Indian Registration Act of 1908, it is mandatory to get the property registered. The registration process is carried out on the production of the documents and payment of the registration fee.
The registered AOA enjoys legal benefits which allow it to fulfil its stated objectives concerning its members and address its issues regarding the administration of building property legally.
Complaints can be filed either with the Real Estate Regulatory Authority or the adjudicating officer under Section 31 of the Act. Complaints can be filed against the developers, allottees, or the real estate agents.
The RERA Act does not distinguish between the categories of people who may be able to file a complaint. Any potential buyer may file a complaint against the developers, builders and agents who have been working on the project for any act that goes against the provisions of the Act.
The RERA Act was established to provide transparency and accountability in the real estate sector. It ensures that the builder has complied with the necessary rules and regulations that are to be followed in a real estate project.
The Real Estate Regulation and Development Act (RERA) was introduced in order to prevent the builders from exploiting the buyers. The Act was introduced to bring about transparency, efficiency, and to protect the interests of the buyers.
Buying a residential property has been a dream of most of the Indian Individuals and it is important to exercise due diligence and verify various property documents before purchasing the property. Before entering into any contractual obligation, it is important that you check through the various documents to avoid future hassle.
Every property is an asset for which tax is payable to the municipal corporation or the local state government and it is important that you know the various property tax documents required for the purpose of tax assessment, filing, and payment.