Consultation India - Pune, Mumbai Real Estate/ Properties Investment, Property Management Services

What is a gift deed? A gift deed is an agreement that is used, when a person wishes to gift his property or money to someone else. A moveable or immovable property can be gifted voluntarily using gift deed, from the donor to the donee. A gift deed allows the property owner to gift the property to anyone and avoids any future dispute arising out of succession or inheritance claims. A registered gift deed is also evidence in itself and unlike in the case of a will, the transfer of property is instant and you will not be required to go to the court of law for execution of gift deed and hence, deed of gift also saves time. Why Gift Deed? A gift deed allows a property owner to voluntarily give his/her property to anyone and avoids any future dispute arising out of succession or inheritance claims. Implications There are many good reasons that someone gift property to lovedones but, there could be financial implications on doing so, especially if you are planning to gift a property. Here are

  1. What exactly is ancestral property? An ancestral property is an undivided property, in which four generations of a single family have their share. Once divided among the stakeholders, an ancestral property would cease to be an ancestral property, and turn into a self-acquired property. 2. How many generations can claim ancestral property? In case of a classified ancestral property that has remained undivided, four generations of the male lineage have their claim. Basically, the father, the grandfather, the great grandfather and the great-great grandfather have inheritance rights over an undivided ancestral property. This means, say, on Ram’s ancestral property, his son Shyam, Shyam’s son Ghanshyam and Ghanshyam’s son Radhe Shyam have inheritance rights. Also, whenever someone inherits a property from any of his paternal ancestors up to three generations above him, his legal heirs of up to three generations below him would get equal right, as coparceners in that property. (coparcen

A call from the lender or the visit of a recovery agent is every borrower’s worst nightmare. Already reeling under financial stress, the individual has to face the humiliation heaped on him by the lender’s agents. However, even if a borrower defaults, he does not surrender his rights to the asset or to fair treatment. Lenders have to follow the due process while initiating proceedings to recover their dues. Here are your rights as a borrower. Privacy of borrower Lenders sometimes engage recovery agents to coerce borrowers to repay their loans. The borrower’s privacy is to be respected. These agents can contact the borrower at a place specified by him. If not specified, they can contact him either at his home or workplace. They can visit him between 7 am and 7 pm or at any time specified by him. A recovery agent cannot discuss the details of the case with any other person, unless the borrower has given permission to do so. Decorum and decent behaviour The agents cannot cross the line th

Greetings Friends, here are some latest buying of high ticket residential aparments in Mumbai city posh locations: Celebrity Rajkummar Rao buys apartment in Mumbai's Juhu area for Rs 44 Crore. Rajkummar Rao has made a purchase of a new property in Mumbai's plush locality Juhu. The actor shelled out Rs 44 crore for the deal. Interestingly, the triplex flat earlier belonged to Rajkummar's Roohi co-star Janhvi Kapoor who made the purchase in 2020. This is one of the most expensive deals for a property purchase in recent times.  The flat purchased by Rajkummar is on the 14th, 15th and 16th floors of one of the buildings in Juhu-Vile Parle Development Scheme. It is spread over 3,456 sq ft as per documents accessed by SquareFeatIndia.com and offers the new owners 6 parking slots. The deal between Janhvi and Rajkummar and his wife Patralekhaa was finalised on March 31, 2022 but it was registered on July 21, 2022, as per the documents. Janhvi Kapoor makes a profit off her Juhu apar

  What is GST and how it works? GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. In other words,Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country. NEW GST RULE on Rented Residential Property. *Synonyms for Tenant are Licensee and lessee. *Synonyms for Owner are Licensor, lessor and landlord. The dynamics of renting residential property under GST has changed from *18th July 2022*. The decision to bring the renting of residential dwellings under the tax net was taken in the 47th GST Council Meeting. Renting an immovable property is considered

HDFC has leased over 250,000 sq. toes of workplace house at Okay Raheja Corp-backed Mindspace Enterprise Parks REIT’s enterprise park in Navi Mumbai’s Airoli locality for 10 years, a number of individuals with direct data of the event stated. The financial institution is planning to arrange its know-how and processing unit on the new workplace that can service its operations throughout the nation. The workplace tower, which is a part of Mindspace enterprise park’s first section, is at the moment underneath improvement and is anticipated to be accomplished within the subsequent 3-4 months when the financial institution will begin its fit-out work. “Each the events have already signed the letter of intent (LoI) for the deal and the stamp obligation has additionally been paid,” one particular person stated. Out of round a million sq ft under-construction house, the developer has thus far leased 600,000 sq ft together with the cope with HDFC Financial institution. The financial institution

The office space is being developed and is likely to be delivered in three phases between October 2022 and October 2024 Mastercard Technology has leased over 400,000 square feet of space in a commercial building in Pune for 20 years with rent starting at Rs 4.12 crore per month, documents accessed by Propstack showed. The 423,070 sq. ft of space at Nephronia Ecopaces is owned by Witwicky One and Farokh Framji Wadia in the Yerwada area of Pune, the lease agreement showed. The space is being developed and is likely to be delivered in three phases between October 2022 and October 2024. The lock-in period is 10 years and the security deposit is for 12 months. Rent escalation is at the rate of 4.75 percent per annum from the commencement of lease and includes car parking and signage. The commercial space comes with parking for 683 cars and 1,174 two-wheelers. source: Online. Further, We are also professional real estate consultant having experience of more than decade & half and can ass

To boost the real estate sector and to provide relief to the investors, the Legislative Assembly on Wednesday passed a bill proposing to extend the duration to avail the stamp duty benefits from one year to three years in Maharashtra state of India. What is Stamp Duty Concession? As per existing norms in Maharahstra, if an investor buys and sells the flat within a year, the investor gets concession in stamp duty which has been extended to 3 years.  To understand it easily giving example, suppose an individual or investor purchase a flat for Rs. 1Cr. in year 2022 and has to pay a stamp duty of 6% to government to register this flat on his name which will be Rs. 6lacs and if investor sells it on or before 3 years ie. in 2025 at price of 1.25 Cr.  then new buyer of this flat has to pay stamp duty to government which is currently 6% to be calculated on difference of purchase price 1 Cr. minus (-) sale price 1.25 Cr. = 25 lacs so new buyer need pay stamp duty on 25 lacs only so this benefit