In any real estate transaction, clarity and understanding between the buyer and the seller are crucial. A Memorandum of Understanding (MoU) or an Agreement to Sale (ATS) serves as the essential document to formalize this initial understanding before the final sale deed is executed. What is an MoU/Agreement to Sale? What’s Typically Included in an…
Purchasing a property in Pune can be both exciting and daunting. While the joy of owning your dream home is undeniable, navigating the legal complexities of the process can be overwhelming. This article provides an overview of the legal steps involved in buying a property in Pune, empowering you to make informed decisions and safeguard…
A Deed of Assignment for flat is a very important document in the process of transfer of flat property ownership. This document legally transfers ownership from the assignor to the assignee. But what exactly is an assignor and assignee, and what are the important points to include in a deed of assignment? Meaning of Assignor…
A sale deed is a legal document that is used to transfer the ownership of a property from the seller to the buyer. In Pune, Maharashtra, the sale deed must be registered with the Office of the Sub-Registrar in order to be considered valid. The sale deed must include certain important details about the property…
Following are some important clauses that should be included in the Agreement to sell or conveyance deed to protect the rights and interests of the buyers. These clauses are – Here are some important clauses that a property buyer should consider including in a contract or agreement when purchasing a property: It is important to…
Local Body Taxes meaning and applicability – LBT is Local Body Tax levied by the Pune & Pimpri Chinchwad Local Government Bodies such as Municipal Corporation, Municipal Council, Grampanchayat, etc. The ‘LBT’ is applicable on the property transfer by way of Gift Deed, Agreement to Sell, Sale Deed, Deed of Assignment, etc. in Pune and…
What is Public Notice News-Paper Advertisement? Public Notice is a Notice issued by prospective purchaser through publication in the news-paper, thereby calling for objections with respect to a Property, if any, from the public at large. Public Notice is a way by which it is declared that, if any persons or banks or other financial…
Calculation of Valuation of Property (For Residential Flats ONLY) Introduction – While buying a Property, calculating the exact Valuation of the Property is very important, as the Stamp Duty and Registration Fee is applicable on the consideration price decided by the parties or the Valuation of the Property (as per Government ready reckoner rate), whichever…
Knowing the Government Value is very important while transferring property as this value should be taken into consideration while calculating the Stamp Duty and Registration Fees. As per the rule, Stamp Duty and Registration Fees will be applicable on higher value between the Government Value and Consideration Price. For example – The Government Valuation of…
This article provides basic information regarding Stamp Duty, LBT, Metro Cess, Registration Charges, and the meaning, rules, and process of registration of Gift Deed of immovable properties in Pune, Pimpri Chinchwad, and the PMRDA area. Meaning of Gift Deed A gift deed is a document by which ownership of the property can be transferred without…