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23 Jan 2024
A property Index II document is automatically generated on the registration of transfer documents pertaining to immovable properties. It is issued and maintained by the Sub registrar’s office and the Stamp Duty & Registration Department. It contains a short description of the registered documents and details of the immoveable property. It is a public document, certified by the government and available to any member of the public.
22 Jan 2024
The Malmatta Patrak or the Property Index Card is an extract obtained from the urban land records register of the Government of Maharashtra. It is recognised as a record-of-right, certified by the government and is considered an important proof of ownership. It contains details of the history of ownership of the land and the encumbrances attached to it. This card can be obtained from the city survey officer or downloaded from the official government website for land records.
19 Jan 2024
Zoning is a type of planning control tool used to regulate the use of land in a particular area. It is used when creating Development Plans for a region. This tool allows authorities to stimulate or slow down development in specific areas, regulate property markets and ensure complementary use of land. It also helps in defining density by way of FSI / FAR. Each state may have its own method of zoning.
18 Jan 2024
Agricultural land is land that is used for the purpose of agriculture which includes the cultivation of crops, fruits, vegetables, grass, trees, horticulture, poultry farming, breeding of livestock, breeding of fish, bee keeping, etc. It also includes land used for any purpose which is ancillary to its cultivation, e.g. land used for grazing cattle.
17 Jan 2024
Appreciation refers to an increase in the value of an asset over time, such as a stock, bond, currency, or real estate. For example, the term capital appreciation refers to an increase in the value of a property which can occur for several reasons including increasing demand or weakening supply, or as a result of changes in inflation or interest rates. Appreciation is the opposite of depreciation, which refers to a decrease in value of an asset over time.
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16 Jan 2024
Force majeure is a French term that literally means “greater force.” It is related to the concept of an act of God; an event for which no party can be held accountable. A builder usually includes this clause in the sale agreement to give each party more time to fulfil any obligation in case such an event occurs.
15 Jan 2024
Escrow is a legal concept describing a financial agreement whereby an asset or money is held by a third party on behalf of two other parties that are in the process of completing a transaction.
12 Jan 2024
The term landlord refers to a property owner who rents or leases that property to another party in exchange for a monetary compensation.
11 Jan 2024
Under the provisions of section 21 to 31 of the Maharashtra Regional and Town Planning Act, 1966, local governing bodies must prepare a draft development plan showing the proposed land use and public facilities as per future population for areas covered under their jurisdiction. These plans are then approved by the Urban Development Department of the Government and referred to as Development Plans for the region.
10 Jan 2024
An asset that cannot be moved from one place to the other is considered to be an immoveable property. In India, real estate is considered to be an immoveable property.
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