Saturday, May 30, 2020

BUY/RENT/SELL property online is safe?


The Internet has become a basic necessity of everyone's life, the trend of buying property online for the last few years. Today, there are number of portals where one can advertise, buy, sell or rent a property. Major real estate developers are taking steps to strengthen their online presence where shoppers can check prices and designs. In the current scenario where many reputed real estate businesses are trying to rent or sell their properties online, and with great offers. In that case the buyer gets a lot of benefits.

Advantages of buying / renting / selling property online:-


Booking amount is cheap: In offline scenario the booking amount is at least 5% of the value of the property and if you buy the property online then advance booking payment is very nominal 10,000 to 20,000 which is less than offline booking amount. Book a property online. If the buyer is sure to buy the property 100% then he will lose the booking amount.

Convenient for the buyer: Buying property online has become easy and convenient where the buyer can make a booking from the comfort of their home. Contacting several agents to obtain information about the property, which is tedious work, is also terminated.

Choosing a property online has the option of taking a visual tour: Many property portals or websites offer a visual tour to the potential buyer where you can actually see every nook and corner of the property / house. They also provide 24-hour customer service support for property or booking related questions. This helps in saving the customer's money, time and effort. Otherwise he would have to visit the property individually for each short query.

Research: The buyer can compare properties online, checking the correct property rates using a website or portal tool. The buyer can also read the project description and locality details, reviewing the builder which will help them finalize the property and make decisions.

Risk in buying / renting / selling property online:-


Some property developers provide fake information and pictures about the property and simply submit it to the online portal to drive traffic and silly people.

In that case verified property builders come into play. Make sure that you do the proper research and invest or buy property that is verified and certified.

Friday, May 29, 2020

Why luxury houses are eye catching and why everyone is looking for dream house?

In today's era, we all know what is in the economic situation and other real estate market, yet there will always be people who are not satisfied with any kind of house. As a result, demand for luxury homes in India may rise and fall - but it does not go away completely.

It is driven by a rising standard of living and rising disposable income among successful entrepreneurs, high-flying corporate executives and software professionals, and by a rich score of traditionally wealthy families. They are not satisfied with only four walls, gardens, club house, gym and a parking slot. People are demanding luxurious lifestyles with high facilities.

Indian luxury home buyers have sound reasons why they want homes to be at a premium rather than 'normal' homes, here are some reasons we're trying to put them in front of everyone.

Level of affluence


Buying a luxury home is a matter of prestige - and why not? After all, most luxury home owners have bought their pride and enjoyment with hard-earned money. They want to live in homes that announce their arrival, and offer a higher lifestyle rather than just a mailing address.

Comfort


Today's luxury homes offer all the latest in modern amenities - and an ideal environment for a happy family to live and live. These houses are built to take care of the needs of a comfortable lifestyle. Facilities such as swimming pool, themed, landscape garden, club house, gym, meditation center, manicure lawn, electronic security, touch-button responsive fixtures, and entertainment and shopping all contribute towards making the available experience comfortable and enjoyable.

Security/protection


An important feature of luxury homes is that they have a very high security system in terms of the security gates and security gates of the apartments. They have top security in terms of trained security personnel and security installations that guarantee security. In addition, accidents and medical emergencies can receive immediate attention, because of the immediate response initiated by technology, and the availability of hospitals and emergency rooms at the door only.

High tech applications


Technology and IT innovations have come a long way to make the experience of living in high-end luxury homes exceptional. From solar generators to remote controlled window shutters, everything is directed towards meeting the demands of house buyers in search of an ultra-modern lifestyle.

Neighborhood / Local vicinity


The benefit of housing a family in a luxury apartment does not extend to mere suitability. Luxury housing projects are also seen as the perfect environment for children to grow up and adults to socialize. Ultimately, such projects basically create a society with a certain culture, education and beliefs - in short, a better local environment & surroundings.

Asset value


Real estate and gold are the most traditional forms of money investment in India. However, properties offer the advantage of being an asset that increases in value in every instance - and is also a 'performing asset', meaning that it would serve a practical purpose even if there was a gain in value is given the fact that the demand for luxury homes is always on the secondary market as well.

SuGanta.com is India’s most popular real estate website. We charge you 0% brokerage on new properties purchased by us. We provide a dedicated customer relations manager for you when you select an assistant buyer. All of our managers are real estate specialists who will take your unique preferences into consideration and only shortlist homes that perfectly match your needs. So you can be sure that our experts will find your dream home.

Thursday, May 28, 2020

Women should know about low pay duty charges and interest in real estate

Women in cities have become an important focal point for developers. Unlike the earlier scenario where they were not just considered decision makers and producers, Indian women today are much empowered and have become independent decision makers in home buying matters. Along with good jobs with fantastic growth prospects - not only in corporate India, but also in government positions in rank, women today are an important target audience for major property developers.

Today a growing number of women believe that owning physical assets like home makes them realize more than marriage at the right age.

The scenario has also changed for married women. With dual-income families as background, many women are now active financial partners with equal say in purchasing decisions.

Shortly before this there was a distinct change in family dynamics and their investment priorities, which were mainly gold and Fixed Deposits. Real estate now occupies an important position in their investment portfolio.

The government and the banking system are also going the extra mile to encourage women into standalone homework. In India, stamp duty fees for property registration are lower in some states if it is executed in the name of a woman. Delhi, UP, Rajasthan, Punjab and Haryana are with stamp duty exemption for women buyers. The exemption on stamp duty is up to 1-2% in different states.

“If the property is jointly owned, there may be additional tax benefit. Like men, women home buyers are also eligible for tax exemption up to Rs 1.5 lakh under Section 80C of the Income Tax Act on principal paid on housing loans, and home loans up to Rs 2 lakh under Section 24 per annum on interest. If a property is let out on rent, full interest is allowed on the home loan as a deduction. However, to avail this additional tax benefit on home loans, the property has to be co-owned,” according to experts.

In addition, many large banks in India pay less home loan interest to women borrowers than men. The discount may vary from 0.05% to 0.25% depending on the bank and loan amount.

Thus, women across urban India are buying properties to diversify their investment portfolios or to have multiple benefits for women, ranging from tax benefits to lower home loan interest rates by some banks and in various states Stamp fees and registration fees are also reduced.

Wednesday, May 27, 2020

The importance of 7/12 legal extract

The purchase of property is one of the most valuable decisions in the life of all; it contains lots of legal terms, fees and necessary documents. It is our duty to be clear about all the necessary documents involved in the property buying process. There is a 7/12 extract required for property purchase in Maharashtra. This is one of the most important papers, when the buyer is willing to invest in semi-rural areas of the state to buy a plot. We all know that Maharashtra has prohibited the use of this document in the urban areas of the state including the suburban areas of Mumbai, these document only matters in areas where land plots do not have city survey numbers. This document is traditionally called "Saath Baara Utara".

This document provides complete information about each particular land and is defined as an extract from the land register of any district in Maharashtra. This document is issued by the Tehsildar or the concerned land authority of the area concerned. This document contains some important details which are as follows:

Name of the owner and its cultivator


·     Survey number of land.
·     Size of the land.
·     Type of land irrigational.
·     Crops planted on the land.
·     Location of the land with respect to the infrastructure facilities like roads and water bodies.
·     Availability of the loan by the owner or cultivator.
·     Reason for the loan like the purchase of seeds, pesticides, and fertilizers.
·     Loan extended to the landowner by government agencies.

This document originated from the "Bombay Land Reclamation Act 1948". All the records of the land are maintained by the revenue department of the government.

Why is this document required?


This extract will serve as proof of land title. It can be used to check if there are any previous disputes related to the property. All of this is one of the most important documents for sale in the Registrar's Office and for the loan requirement. And also to define the exact location of the land along with all the activities done on the land in the past. For agricultural land, this document will have a description of all the crops that were grown on the land, mutation entries and outstanding debts. It also helps owners identify whether the land is arable or non-agricultural.

7/12 extracts are named after two forms that are used to collect information for extracts:


·     Village Form VII where it records complete details of owner and owner rights.
·     Village Form VII which records the agricultural aspects of the land.
Information on both these forms is set out and set out in the "Maharashtra Land Revenue Records of Rights and Register Rules, 1971". To obtain information, extracts of registers related to that land are given.

How to get 7/12 extracts online?


This document can be availed from the Tehsildar office and you can get the documents online either by following the steps given below:

1.  Visit Maharashtra government’s website.
2.  Select the division, district, taluk, and village name from the list given on the website.
3.  You can search any of the following details:
  • Survey number/ group number of the property.
  • First name of the owner.
  • Ancestral owner of the property.
  • Last name of the owner.
  • Full name of the owner
The latest update about this document is that from May 1, 2020, zamindars will be able to print 7/12 land record receipts online, and to ensure that the document is provided with a digital signature on it.

Can you transfer a title to a 7/12 extract?


Industry experts state that this extract is not proof of any established title and therefore one cannot transfer title based on 7/12 as it does not serve as proof of ownership.

The comment of Section 43 Bombay Tenancy and Agricultural Land Act 1948.


In this extract the land will be purchased by the tenant under the related provision of the law, but now the tenant needs to obtain permission from the District Collector to transfer or sell the land. If this happens without the permission of the collector, the sale will be considered illegal.

The remark of section 36 Maharashtra Land Revenue Code 1966.


This section deals with tribal land transfer. This section states that if any land is occupied by tribal people, it cannot be transferred to non-tribal people without obtaining permission from the District Collector. This transfer has no legal stance and cannot be accepted.

Regarding fragmentation of land:


If certain portions have been sold by the title holder, the entry will be made in the right column, as it is transferred due to fragmentation of the land, this means that the land has been sold to the government and the rest of the land sold. Cannot be obtained without obtaining permission from government officials.

Entry of protected land:


Section 4-A of the Bombay Tenancy and Agricultural Land Act 1948, in this law, if a person lawfully cultivates any land belonging to any other person, it shall be deemed that the tenant, subject to the condition of any such land, shall be deemed to be the owner. In this case, the land cannot be transferred without the permission of the government if it is not a family member or servant of the landowner. These entries need to be carefully examined while purchasing any land.