Legal documents for purchasing a flat!

Legal Documents For Purchasing A House / Flat

Courtesy: http://www.businessgyan.com

A house can be brought or built.. If you are purchasing a house, it could be an apartment or a constructed house. Alternately you can buy a site and then build a house. The legal documents required for both are different.

PURCHASING A SITE

1. Layout: You could purchase a site from a developer who has made a layout. You should ensure that the layout is converted from agricultural to residential use. You should also check the C.D.P. for land use and make sure that it is ear marked for residential user. The land in question should have no acquisition proceedings from the B.D.A. or The Karnataka Housing Board. It is very important to verify under whose jurisdiction the property is situated i.e., the Village panchayat, the C.M.C.(City Municipal Corporation) or Corporation. The layout plan sanction should be certified both by the B.D.A. and the local body under which the land is situated. However, nearly 95% of the developers do not take the layout plan sanction from the B.D.A. before subdividing a land into plots.

2. B.D.A. site: You could purchase a site from the B.D.A. as an original allottee. In order to apply for a B.D.A. site, you should meet the eligibility criteria of 15 years of residence in Karnataka and you should not have any other site in your name or in the name of your spouse or dependents. You should apply for the site in the layout that is available and pay the nominal fee required to the bank. A lease cum sale agreement is registered and you are put in possession of the property. Later the sale deed is registered in your name and the khata is issued. The B.D.A. has now abandoned the old scheme, whereby it was insisting that a house should be constructed within 10 years on the allotted site. The only condition is that the property shall be used for residential use.

3. Auction site: The B.D.A. also auctions its stray sites, which are normally corner sites or sites with unusual measurements. Notice of auctions of stay sites are inserted in the newspapers and the sites are allotted to the highest bidder, and a sale deed is executed later in the name of the person who has been the highest bidder.

4. Purchase from B.D.A. allottees\: The second sale of B.D.A. sites are very popular. Most people do not get the site allotted even after applying several times. Such purchasers should always verify with the B.D.A. for authenticity of the sites. Care should be taken to verify if the site has, since its allotment, been mortgaged or if a G.P.A. has been given to third parties. Apply for and get the latest E.C. which is upto date. Inspect the original sale deed, which should be in the custody of the Vendor. This is especially important as there is sometimes a long lapse of time between allotment and the final sale deed.

5. Vacant Site: The last option is to purchase sites from other individual purchasers. For such properties, the full history of the property, up to date property tax paid receipts and insertion of paper notice of intention to purchase is very important. Always scrutinise the original documents. Verify who has possession of the property, which is especially important for purchase from Mohammedan owners, who have the right to give oral gifts of immovable properties that do not require registration.

PURCHASING A FLAT

1. Second sale from owner: You could be purchasing a flat as a second sale from a person who has originally brought it from a developer. Check for dues to the association, the latest property tax paid receipt. Ensure that there are no F.A.R. violations on the property and that the sanctioned plan has been adhered to. This will be evident from the occupation certificate.

2. Purchase from developer: The purchase of flats from a developer is perhaps the most common, because of easy availability of bank loans, lower cost compared to an independent house and availability of facilities like club house and other amenities. The General Power of Attorney, The Joint Development Agreement, Sanctioned Plan, Tax paid receipt, Encumbrance certificate and title opinion from the lawyer are generally required. The documents very on a case to case basis. The agreements, have to be scrutinised to see if clauses relating to indemnities are to be inserted regarding good title, delivery on time with statutory clearances and repair of defects in building.

KHATA

After purchasing an apartment of a site, the khata has to be changed to the name of the new owner. In the case of apartments, a sub number is allotted to each flat along with separate tax assessment orders. The time allotted for khata transfer is generally 45 days (statutorily) and you can apply for the same in the concerned office with the following documents:

1. Original sale deed with copy attached.

2. 2% of the value of the stamps in the sale deed as official fee to be paid by cheque.

3. Application form with court fee stamp.

4. N.S.C. certificate for a nominal value.

5. Affidavit in case of death of owner, from legal heirs along with death certificate.

For multistoried buildings, the original plot no. is subdivided into several sub numbers for the various flats and the property is assessed to tax. This sub number and assessment is normally a service offered by most developers to the purchasers. The khata is issued after this is done.
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12 steps to shock-and-awe Pakistan’s economy

Source: Rediff.com(http://www.rediff.com/money/2008/dec/11mumterror-12-steps-to-shock-and-awe-pak-economy.htm)

Excellent article!

12 steps to shock-and-awe Pakistan’s economy

R Vaidyanathan | December 11, 2008 | 08:44 IST

I did not anticipate the huge response my inbox received for the article slamming Pakistan. Many of those who wrote in have sought concrete steps to tackle the Terror Central.

The terror attack on world citizens at Mumbai has created revulsion and outrage all over the world. It is imperative that India seize the opportunity provided to destabilise Pakistan.

A stable Pakistan is not in the interest of world peace, leave alone India. Army controls the country and owns its economy.

A significant portion of its GDP is due to army-controlled entities (See: Military Inc – Inside Pakistan’s Military Economy, by Ayesha Siddiqa; OUP; 2007). One can easily say that Pakistan economy and its Army/ISI are synonymous.

• Light a candle for the fallen
• Terror strikes at Mumbai’s heart

Unless this elementary fact is internalised, we are not going anywhere. This implies we should stop talking of a stable Pakistan since a stable Pakistan means multiple attacks on many more cities of India by that rogue organisation ISI, which is the core of the Pakistan Army and the heart of Pakistan’s economy.

Let us not even assume that Zardari is in control. Poor man — he did not trust his own investigators to probe his wife’s assassination — he wanted Scotland Yard to do the job. Now he blabbers that if his investigators are satisfied, then he will initiate action against terrorists sitting inside Pakistan.

Periodically, the Pakistan Army likes to present some useful idiots (as Lenin would have called them) as elected representatives and we swoon over such events.

India should take the following steps to destabilise the economy of Pakistan:

1. Identify the major export items of Pakistan (like Basmati rice, carpets, etc) and provide zero export tax or even subsidise them for export from India. Hurt Pakistan on the export front.

2. Identify the major countries providing arms to Pakistan and arm twist them. Tell Brazil and Germany (currently planning to supply massive defense items to Pakistan) that it will impact their ability to invest in India. Tell Germany that retail license to Metro will be off and other existing projects will be in jeopardy.

3. Incidentally, after the arrival of Coke and Pepsi in China, the human rights violations of China are not talked about much by US government organs. Think it is a coincidence? Unless we use our markets to arm-twist arms exporters to Pakistan, we will not achieve our objectives.

4. Tell American companies that for every 5% increase in FDI limit for them, their government needs to reduce equipping Pakistan by $5 billion. That is real politics, not whining. Let us remember that funds are in desperate search of emerging markets and not the other way about. Let us also remember that international economics is politics by another name.

5. Create assets to print/distribute their currency widely inside their country. To some extent, Telgi types can be used to outsource this activity. Or just drop their notes in remote areas.

6. Pressurise IMF to add additional conditionality to the loans given to them or at least do not vote for their loans.

7. Create assets within Pakistan to destabilise Karachi stock market – it is already in a shambles.

8. Cricket and Bollywood are the opium of the Indian middle classes. Both have been adequately manipulated/ controlled by the D-company since the eighties. Chase the D-company money in cricket/ Bollywood and punish by burning D-assets in India instead of trying to have them auctioned by the IT department when nobody comes to bid for it.

9. Provide for capital punishment to those who fund terror and help in that. We have the division in the finance ministry to monitor money laundering, etc. It is important that terror financing is taken seriously and fully integrated into money laundering monitoring systems and this division is provided with much larger budget and human resources. And it should coordinate with RAW.

10. Encourage and allow scientists/ academicians/ elites of Pakistan to opt for Indian passport and widely publicise that fact since it will hurt their self-respect and dignity. There will be a long queue to get Indian passports — many will jump to get our passport — since they will not be stopped at international airports. It is rumoured that Adnan Sami wants one. Do not give passports to all — make it a prized possession. Let it hurt the army- and ISI-controlled country. This one step will destroy their identity and self-confidence.

11. Discourage companies from India from investing in Pakistan, particularly IT companies, till Pakistan stops exporting its own IT (international terrorism).

12. In all these, it is important that we do not bring in the domestic religious issues. The target is the terror central, namely Pakistan, and if there are elements helping them here then they also should be punished — irrespective of religious labels. If Pakistan is dismantled and the idea of Pakistan is gone, many of our domestic issues will also be sorted out.

Will the Indian elite go for the jugular or just light more candles and scream at the formless/ nameless political class before TV cameras?

It is going to be a long haul and may be in a decade or so, we can find a solution to our existential crisis of being attacked by barbarians from the West. We need to combine strategy and patience and completely throw to the dustbin the ‘Gujral Doctrine’ by that mumbling prime minister about treating younger brothers with equanimity. The doctrine essentially suggests that if we are slapped on both the cheeks we should feel bad that we do not have a third cheek to show.

He, according to security experts, seems to have dismantled our human intelligent assets inside Pakistan, which has resulted in the gory death of thousands of Indian citizens in the last few years.

Such is our strategic thinking in this complex world since our political class is not adequately briefed and the elite don’t think through issues. Better to be simple in our talks and vicious in our actions rather than the other way.

Hopefully, this November attack will create a new vibrant India capable of taking care of its own interests.

Also read: 8 things India Inc must do against Pakistan

The author is professor of finance and control, Indian Institute of Management-Bangalore, and can be contacted at vaidya@iimb.ernet.in. The views are personal and do not reflect those of his organisation.

Under license from www.3dsyndication.com.

Swift Dzire looks cool!

Here is the Brand New swift Dzire which may give sleepless nights to Tata Indigi/Logan/City/Swift and SX4.

Maruti Suzuki today rolled out a new entry level sedan called swift dzire. Swift Dzire comes in both in diesel and petrol variants powered by 1.3 litre engines. The DZiRE sedan boasts an incredible boot space of 464 litres.Apart from the boot the new grille, new fog lamp insert and tail lights with horizontal turn indicators distinguishes swift DZiRE from swift hatchback. The DZire also comes with first in class features such as including integrated stereo, steering mounted audio controls, automatic climate control, power windows and dual airbags.”The DZire is the seventh model Maruti Suzuki has launched in the last three years. It has a special place in our product strategy. Millions of Indians own compact cars. With growing incomes and better lifestyle, many of them want to upgrade to a sedan. But today, they are not able to find an entry level sedan that offers style, features and performance. The DZire offers all this, and at an attractive price,” said Mr.Shinzo Nakanishi, Managing Director, Maruti Suzuki said. The DZiRE petrol comes in three variants – DZiRE LXi, DZiRE VXi and DZiRE ZXi priced at Rs.4.49 Lakhs, Rs. 4.97 Lakhs and Rs. 5.90 Lakhs respectively (Delhi Ex-showroom). The diesel DZiRE, available in LDi, VDi and ZDi variants, will cost Rs. 5.39 Lakhs, Rs. 5.85 Lakhs and Rs. 6.70 Lakhs respectively. Swift dzire petrol variant is being priced in the range of Rs 4.49 to Rs 5.9 lakh while the diesel variants one is priced between Rs 5.39 to Rs 6.7 lakh.  Swift DZire comes in seven colours – Arctic White, Silky Silver, Clear Beige, Midnight Black, Bright Red, Azure Gray and Sovereign Blue.

Here’s The Exclusive Video ::

http://www.youtube.com/watch?v=OraW6LKeB_I

Official Site ::: http://www.marutidzire.com/

அரை மணிநேரத்தில் வருமானவரி தாக்கல்….

வருமான வரி கணக்கு தாக்கல் செய்வதற்கு கடைசி நாளான இன்று (31/07/2007) வெற்றி கரமாக நான் தாக்கல் செய்துவிட்டேன்…
0. http://www.incometaxindiaefiling.gov.in/portal/index.jsp செல்லவும்.
1. நீங்கள் சம்பள ஊழியராக இருப்பின் ITR-1 பாரத்தை தேர்ந்தெடுக்கவும். இதற்கு மற்ற எந்த ஆவணங்களும்(உதா. பாரம் 16, 16அ ) தேவையில்லை.
2. Download Return Preparation Software for selected Return Form. தொடுப்பை சொடுக்கி ITR-1
பக்கத்திற்கு பிடி எப் பக்கத்திற்கு சென்று உங்கள் வருமான விவரங்களை உள்ளீடவும்.
3. உங்கள் அலுவலகத்தில் கொடுக்கப்பட்டுள்ள பாரம் 16 ல் உள்ளபடிக்கு விவரங்களை பூர்த்திசெய்யவும்.
4. நீங்கள் உள்ளீடு செய்தப் பிறகு “Check form” என்கிற பொத்தானை சொடுக்கி சரிபார்க்கவும். தவறுகள் இருந்தால் திருத்தவும்.
5. Generate bar code பொத்தனை அழுத்தவும்.
6. Export to XML பொத்தானை அழுத்தவும், பிறகு .xml என்கிற கோப்பை கணினியில் சேமிக்கவும்.

7. பிறகு மறுபடியும் http://incometaxindiaefiling.gov.in
பக்கத்திற்கு வந்து லாகின் செய்தப் பிறகு Submit return என்கிற பொத்தானை அழுத்தவும்.

8.சேமித்த xml கோப்பை browse கொடுத்து submit செய்யவேண்டியது தான்.
9. இறுதியாக உங்களுக்கு ITR-V சான்றிதழ் பாரம் கிடைக்கும். அவற்றை பத்திரமாக சேமித்து வைத்துக்கொள்ளவும்.

சொதப்பல்:
XML கோப்பை அப்லோட் செய்யும்பொழுது பிறந்த தேதி சொதப்பியது… அவற்றை ஒருவாறு ஊகித்தவாறு notepad திறந்து மாற்றம் செய்து அனுப்பினேன்.

****-MM-**
இவற்றில் **** வருடமும். MM=01, **01
கொடுத்தேன்.

 

Nandri: http://techtamil.blogspot.com

Maruti cuts prices till Swift segment!

Maruti cuts prices of small cars by Rs 6,500 to Rs 18,030 Saturday, 01 March , 2008, 02:32New Delhi: Country’s largest car maker Maruti Suzuki India Ltd on Friday said it has reduced prices of its small car from Rs 6,500 for Maruti 800 to Rs 18,030 for Swift Diesel (ex-showroom Delhi) after government cut excise duty on small cars from 16 per cent to 12 per cent.The company has announced price reduction in all the six models that qualify for the lower excise benefit: Maruti 800, Omni, Zen, Wagon R, Swift Diesel and Alto – India ’s largest selling car.Company Managing Director and CEO S Nakanishi said in a statement that in the short term, the reduction in excise duty will make small cars more attractive for customers and offset the negative impact of higher interest rates.

”This is an encouragement for companies like us, which are making major investments in capacity, research and exports,” Nakanishi said.

The company has the Maruti 800, Alto, Wagon R, Zen Estilo and Maruti Swift in the small car category eligible for the 12 per cent excise rate.

Overall, the Budget has some benefits for all sections of people while keeping the government’s finances healthy, he added.

Hurrayyyyyyy!