Legalities you need to be aware of | Realty Discovered by NIKHIL PATTANI

 Memories to Cherish 

#Dubai #Diaries 

A day well spent with Mr Rajesh Tiwari, Ex Group Director/ Group President #Reliance , Sports Commentator of DDI, DG, Indian Centre for #CSR , Former Senior Government Officer and the pillars of Heritage Group, Mr Pradeep S Shetty and Mr Girish P Gangwani.

 It was a privilege to meet Smt Rajashree Birla who is an Indian philanthropist. She was married to Aditya Birla (scion of the Birla family of business magnates). After her husband's death in 1995, Rajashree ji began working in CSR and charity sectors, developing a large philanthropic organization funded by her family. In 2011, the Government of India honoured her with the Padma Bhushan, the third highest civilian award, for her services to society.

In Search of your Dream Home? Here's the Legalities you need to be aware of.......

The process of purchasing a house or apartment in India involves several legalities that must be taken care of to ensure a smooth and hassle-free transaction. Some of the key legal requirements that you need to be aware of include:

1. Title Verification: It is important to verify the ownership of the property and ensure that the property is free from any legal encumbrances. This can be done by conducting a title search with the local registrar's office.

2. Sale Agreement: A sale agreement is a legal document that outlines the terms and conditions of the sale, including the purchase price, payment terms, and other details. It is important to ensure that the sale agreement is drafted correctly and signed by both parties.

3. Stamp Duty and Registration: Stamp duty is a tax levied on property transactions, and it varies from state to state. Once the stamp duty is paid, the property must be registered with the local registrar's office.

4. Property Tax: Property tax is a tax levied by the local government on the property owner. It is important to ensure that all property tax payments are up to date before purchasing a property.

5. Home Loan: If you are planning to finance your property purchase with a home loan, it is important to ensure that all the loan documents are in order and that the loan is approved before making the final payment.

6. Possession and Handover: Once the sale is complete, the seller must hand over possession of the property to the buyer. It is important to ensure that all the necessary documents and keys are handed over, and the property is in the condition as agreed upon.

It is advisable to consult a lawyer who specializes in property transactions to ensure that all legal requirements are met and the transaction is carried out smoothly.

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Nikhil Pattani, a knowledgeable Real Estate Expert, blogger, sustainability advocate having more than 27 years of work experience in India and UAE. His expertise and dedication have helped more than 3,000 happy families find their dream home. Nikhil Pattani is also a prolific writer, painter, life coach, and motivational speaker who has changed many lives and helped many people fight against all the odds of life. Under his eponymous brand called 'Nikhil Pattani- Your Realtor', he is providing real estate and interior design consultancy. Additionally, he is offering Green Brokers' certification to the real estate professionals under his venture Scholars' Takshashila.