A Delhi court, on April 10, 2017, granted a three-month interim bail to Unitech Ltd‘s promoters, Ajay Chandra and Sanjay Chandra, who were arrested in a fraud case relating to a Gurugram-based real estate R
As per the income tax laws, any profit on sale or transfer of your house or land becomes taxable, in the year in which you transfer the same. As per the Transfer of Property R
The long term growth of the real estate market, depends a lot on how the home buyers are empowered to take decisions and given a platform to fight for their rights. Legal recourse is R
Timely possession remains a major concern for home buyers, who opt for under-construction properties. On the other hand, owing to high real estate prices, home buyers are often forced to opt for under-construction projects, R
People are generally under the impression that one can own any number of properties but one cannot take more than one home loan at a time. This is not true. As there is no R
Sneha Sharma, a home buyer in a housing project in Greater Noida west, is now planning to shift in to her apartment. While a few of the towers in the project are fully built, R
Developers are offering a variety of payment schemes, to attract buyers during the current slowdown. For example, subvention schemes have been prevalent for quite some time in the residential sector and are being used R
A state police circular, directing the police stations across Maharashtra, to register complaints against builders who cheat home buyers and violate building norms, has evoked a mixed response from developers and home buyers. Swadesh R
There are a number of income tax provisions, which link the benefits with the time taken to complete the construction of one‘s property. Deductions pertaining to repayment of the principal component of a R
The builder-buyer agreement is an immensely important document as it is the legal contract between the builder and the buyer. If the developer does not keep his word on any count, it is the R
Buying a property often involves shelling out a significant amount of one‘s hard-earned savings. For many, even this may not be sufficient to meet the cost of the house and the remaining amount may R
A holding period of 36 months is crucial for a person to be able to claim tax benefits associated with long-term capital gains. Long-term capital gains give a property seller the benefits of indexation, R
Seven years after booking an apartment with a leading pan-India developer, Mohit Khan lost patience and approached the developer for a refund. Khan was denied on the basis of the claim that the project R
Often people pick booking under-construction properties over ready houses because of their lower rates. However, they do so without realising the risks involved; both, the income tax and financial implications.
Developers have been inserting clauses that can led to monetary loss and stress to buyers of under construction properties. Here are some of the clauses you must avoid.
Prime Property this week showcases A] Noida home buyers now alleged that builders are forcing them to sign NOCs to completion certificates and also claimed extra demands are being raised for possession; B] Prime Property gets you a legal perspective on this; & C] in Chennai builders are giving hefty discounts to bring buyers back into the market.
Sulekha.com lists out the available legal remedies that can be used in case there is a delay in getting the possession of the property. It lists out possible laws under which one can file a complaint against the builder.
Vakil Search on Sulekha Property discusses the remedies available with property buyers when there is a delay in construction of buildings in a particular time period.