Property bought by a husband in the name of a housewife with no independent source of income will be categorized as the family’s joint property, the Allahabad High Court (HC) has ruled. Such property, … READ FULL STORY
After the Indo-China war of 1962 and the India-Pakistan wars of 1965 and 1971, the Indian government took over the ownership of movable and immovable assets left behind by the people who left India … READ FULL STORY
Right to property in India is a human right after it ceased to be a fundamental right, following the 44th amendment to the Constitution if India in 1978. To understand its significance and what … READ FULL STORY
In case of a difference between the sale agreement value and the sale deed stamp duty value, the former will be considered for the applicability of Section 56(2)(vii) of the Income Tax Act, the … READ FULL STORY
Investing in the real estate segment involves learning, planning and spending. With all these factors and more, a blanket of surety was provided by the government by implementing the Real Estate (Regulation and Development) … READ FULL STORY
If a member of a Hindu Undivided Family (HUF) puts their self-acquired property into the common pot, giving up their individual claim, it becomes a joint property, the Karnataka High Court (HC) has ruled. … READ FULL STORY
In India, homebuyers must pay stamp duty at the time of property registration. Nearly 3-8% of the transaction value (exact rates depend on the state of residence), stamp duty significantly increases a homebuyer’s monetary … READ FULL STORY
Several legal changes have been made to bolster the position of women in inheritance. With an amendment made to the Hindu Succession Act of 1956 in 2005, daughters have an equal share in their … READ FULL STORY
Land is a state subject in India. As a result of this, states are in-charge of levying taxes on land and property transactions. These taxes are imposed in the form of stamp duty and … READ FULL STORY
A person has two ways to own property – creation or inheritance. Inherited property is known as ancestral property while created property, using one’s own funds, is known as self-acquired property. What is self-acquired … READ FULL STORY
The procedure and laws applicable on division of a person’s self-bought property and his ancestral property are different. Considering the proprietorship of a self-acquired property lies exclusively and solely with the owner, unlike joint … READ FULL STORY
The Kerala Real Estate Regulation and Development Rules were notified in 2018. Previously, the Kerala RERA rules were repealed by the state government, as it seemed to favour the builder fraternity. However, the dedicated … READ FULL STORY
The Real Estate Regulatory Authority (RERA) was established in each state and union territory under the RERA (Real Estate) Regulation & Development Act, 2016. In 2017, the RERA act came into effect in Assam. … READ FULL STORY
