Owners of residential properties in Kolkata, are liable to pay property tax to the Kolkata Municipal Corporation (KMC) every year. The municipality uses the funds collected as property tax, to provide important civic facilities … READ FULL STORY
Owners of residential properties in Delhi, are liable to pay property tax to the Municipal Corporation of Delhi (MCD) every year. Based on the area/colony in which your property is located, you would need … READ FULL STORY
A ‘benami’ property is one, where a property is purchased in the name of a person, who is not the real beneficiary. The person, in whose name the property is purchased, is known as … READ FULL STORY
Owners of residential properties in Bengaluru are liable to pay property tax to the Bruhat Bengaluru Mahanagara Palike (BBMP) every year. The municipal body utilises these funds to provide civic facilities, like the maintenance … READ FULL STORY
Owners of residential properties in Gurugram, are liable to pay property tax to the Municipal Corporation of Gurugram (MCG) every year. The MCG follows a simple system for property tax calculation that mainly takes … READ FULL STORY
A greenfield project is one, where the land on which the project is developed, has never been used and there is no need to rebuild or demolish an existing structure. A greenfield project is … READ FULL STORY
To avoid evasion of stamp duty through the undervaluation for agreements and to minimise the disputes on quantum of stamp duty, all state governments publish area-wise rates of properties, on a yearly basis, known … READ FULL STORY
‘Conveyance’ refers to the act of transferring the title, ownership, rights and interests in a property, from one entity to another. The term ‘deed’ refers to an instrument, like a written document that is … READ FULL STORY
A commencement certificate is a document from the local municipal authority that permits the developer to begin construction of the project. The commencement certificate (or CC) is usually granted, only after the developer has … READ FULL STORY
An ‘encumbrance’ refers to any liability that is created on a property. An encumbrance certificate (EC) for a specific requested period, is a note of all the registered transactions pertaining to the property for … READ FULL STORY
Owners of residential properties in Chennai, are liable to pay property tax to the Greater Chennai Corporation (GCC) every year. The municipality uses the funds collected as property tax to provide important civic facilities … READ FULL STORY
An occupancy certificate (OC), issued by the local authorities, certifies that a building is fit for occupation and has been constructed as per the approved plan and in compliance with local laws. What … READ FULL STORY
Owners of residential properties in Mumbai are liable to pay property tax to the Brihanmumbai Municipal Corporation (BMC) every year. On July 7, 2017, the BMC passed a proposal to exempt property tax on … READ FULL STORY
