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Buying Tips

What is the difference between carpet area built up area and super built up area?

Carpet Area: This is the area of the apartment/building which does not include the area of the walls. Built up Area: This includes the area of the walls also. Super Built up Area: This includes the built up area along with the area under common spaces such as the lobby lifts stairs etc. This term is only applicable to multi-dwelling units.

Which s should I verify before buying a property?

If you want to purchase a property you must see the approved layout plan approved building plan ownership s carryout search etc. Before you purchase a property you have to have a title and search conducted by a competent advocate. You cannot do it yourself. You must use the services of a competent advocate. It is a professional job to be done with professional assistance.

Which instruments attract payment of stamp duty?

The instruments that attract Stamp Duty on market value of the property are: Agreement to Sell Conveyance Deed Exchange of property Gift Deed Partition Deed Transfer of lease Power of Attorney settlement and Deed

Who is liable to pay Stamp Duty-the buyer or the seller?

The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary.

In whose name are the Stamp Papers required to be purchased?

The stamp papers are required to be purchased in the name of any one of the executors to the Instrument.

Who is the appropriate authority for knowing the market value of the property?

The Sub-Registrar of the area in whose jurisdiction the property is located is the appropriate authority for knowing the market value of the property alternatively you can take professional help from professional technical Valuators.

Is a POA power of attorney revocable?

Yes a POA can be either revocable or irrevocable depending on what sort of a POA one has made.

What exactly do we mean by a Free Hold property?

A freehold property plot or a property is one where there is a whole and sole owners ownership is full and unconditional within the provisions of the laws of the land and there is no lessor/lessee involved.

How to convert a POApower of attorney property into a Free Hold?

POA cannot be converted into anything. Leasehold properties of DDA in Delhi can be converted to freehold as per provisions.

Upon buying a property from a builder in a building under construction what are the permissions and papers that one should check with the builder so as to ascertain the genuinity of the builder?

When you are buying a property from a builder in a building under construction you have to check the following: Approved plan of the building along with the number of floors. Ensure that the floor that you are buying is approved. Check if the land on which the builder is building is his or he has authority under an agreement with a landlord. If so check the title of the land ownership with the help of an advocate. Check the building by-laws as applicable in that area and ensure that the builder is building without any violation of front setback side setbacks height etc. Check specifications given in the agreement to sell of the sale brochure. Is he providing the same actually on the ground or not? Check the reputation of the builder. Ensure that urban land ceiling NOC if applicable has been obtained or not. Permissions from water and electricity authorities also have to be obtained. Permissions from lift authorities and other Government agencies as applicable.