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.
You must plan your home loan well as the home loan tenure is one of the most crucial or important decision making factors of the home loan. There is no standard ideal duration and it should be considered based on your present financial conditions and your requirements.
The partial occupancy certificate also declares that the completed part of the project is ready for possession and occupancy. The partial occupancy certificate is issued based on the Building by-laws and it is made valid until the occupancy certificate is issued after the construction process has been completed.
In recent years there has been a boom in the real estate sector of our economy. Despite the introduction of the Real Estate Regulation Act, there have been various issues due to misrepresentation, fraud, cheating, forgery, etc
The decision regarding the option of the interest rate is vital as it can impact your financial abilities, thus you should know necessary details concerning both the options and on what grounds they differ before arriving at a decision.
You must keep the various documents of the property safe along with 2-3 sets of its photocopy. In cases wherein you have purchased the house by availing a bank loan, it is important to ensure that you take a few photocopies of the documents before you hand them over.
The registration of the property deals with the process of recording all the documents of the property as the ownership and other rights in the property gets transferred from the old seller to the new buyer.
Sometimes when a homeowner wants to draw some of the equity in their property, they get upset to find the bank valuation is lower than the market value
The sale of residential property requires much due diligence on the part of the seller of the property. In a sales transaction, the role played by the seller is also crucial because he should ensure that there are no disputes and to get the highest possible return from the property.
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.