Things to Know Before Renting a Commercial Property in India

Real estate investing even on a very small scale, remains a tried and true means of building an individual's cash flow and wealth. INTRODUCTION What is commercial property? Property purchased for residential purposes is referred to as residential property, whereas property utilised for commercial purposes is referred to as commercial property. It is seen as... Continue Reading →

NOC for Transfer of Property from Legal Heirs

A no objection certificate or NOC is a very important document that establishes the legality of a particular transaction.  INTRODUCTION What is a No Objection Certificate? A No Objection Certificate (NOC) is a document granting consent for the purchase or construction of property to a person or a company. Applicants must get a No Objection... Continue Reading →

Can a Gift Deed be Challenged in India ?

What is a Gift Deed? A gift deed is a legal document that can be used to transfer immovable property in accordance with section 122 of the Transfer of Property Act, of 1882. A gift deed includes information about the property, the transferrer, and the recipient, similar to what a sale deed does. However, it permits... Continue Reading →

Things to be aware in Builder – Buyer Agreement

A builder-buyer agreement is a document which specifies the modalities, conditions and clauses between a builder and a homebuyer. The builder-buyer agreement contains clauses referring to the property in question, delivery information, and terms relating to default and late project delivery, among other things. At one point, delayed real estate projects affected the Indian real... Continue Reading →

   Different Types of Share Capital

An equity share, occasionally appertained to as an ordinary share, is a form of fractional power that entails the topmost quantum of entrepreneurial responsibility for a trading organization. Let's examine equity shares in lesser detail. The company keeps its equity share investment capital. It's only returned after the business has been shut down. The company's... Continue Reading →

Mistake

Introduction:When a person misunderstood or misinterprets the facts of something, he is at a mistake.The mistake may be defined as when either one or both the parties to the contract give their consent, which is caused by misunderstanding, and if this fact is not presented they would not come into the contract; the contract is... Continue Reading →

Slum Rehabilitation Policy : Evolution, Need, Process, and Loopholes.

Introduction : Slum Rehabilitation Policy in India is an initiative started to revive of protect the slum area and its people in the country. The purpose of this policy is to protect these areas and develop them into productive areas for their people. All the projects under the policy are to be carried out by... Continue Reading →

CAN A PERSON BE DISPOSED OFF HIS OWN PROPERTY ? FACTUAL ANALYSIS IN THE LIGHT OF RIGHT TO PROPERTY IN INDIA

Introduction : The right to property is a fundamental human right. It is enshrined in the Universal Declaration of Human Rights and the International Covenant on Economic, Social and Cultural Rights. It is also protected by the Constitution of India. We have been given certain rights and with it comes duty. In order to protect... Continue Reading →

Contract to sell or let property by one who has no title not specifically enforceable under the Specific Relief Act

Introduction In India, Specific Relief Act was initially enacted in 1877 based on the doctrines advanced by the English Equity Courts. Upon the recommendations of the Law Commission of India, the earlier act was repealed and later, the new act came into force. Now, the law regarding specific performance is enshrined under the Specific Relief... Continue Reading →

THINGS TO BE AWARE IN BUILDER – BUYER AGREEMENT

A builder-buyer agreement is nothing but an ‘Agreement for Sale’. This document indemnifies that the said bought property is transferred on the buyer’s name and all the rights towards the same are transferred to new owner’s name subject to the mutually acceptable clauses mentioned in the agreement. It includes different annexures, approvals, flat layout, terms... Continue Reading →

PROCESS OF LAND ACQUISITION UNDER RIGHT TO FAIR COMPENSATION AND TRANSPARENCY IN LAND ACQUISITION, REHABILITATION AND RESETTLEMENT ACT, 2013 : A BIRD’S EYE VIEW

Introduction : Land Acquisition is defined as the acquisition of ownership of private lands for public purpose. In the context of India, the definition of land acquisition is different than many countries where the government acquires the land for development projects. In India, land acquisition is done by the state governments for various purposes i.e.,... Continue Reading →

THINGS TO REMEMBER BEFORE TAKING A HOME LOAN IN INDIA : PRECAUTIONARY MEASURES

Introduction : In the past few years, home loans have become more accessible to Indians. Today, you no longer need a collateral to get a bank loan and the home loan interest rates are quite affordable as well. However, despite all these benefits, taking a home loan in India is still not easy. There are... Continue Reading →

NO OBJECTION CERTIFICATE (NOC) FOR TRANSFER OF IMMOVABLE PROPERTY FROM HEIRS : ALL YOU NEED TO KNOW.

Introduction : NOC means “No Objection Certificate” it is a clear permission for transferring of property. NOCs play an important role in the real estate sector as they help in transferring properties from one owner to another. NOCs are often required by the seller or buyer who has already purchased a property and is looking... Continue Reading →

Simple Mortgage

Step By Step, Place Became Property, Property Became A Mortgage, And Mortgages Became Derivative Investments. INTRODUCTION What Is a Mortgage? A mortgage, as per section 58 of the Transfer of Property Act, is a sort of loan used to buy or keep up a house, land, or other pieces of real estate. The borrower agrees to... Continue Reading →

Contingent Contract

Introduction: Section 31 of the Indian Contract Act, 1872 says that "a contingent contract is a contract to do or not to do something if some event collateral to such contract does or does not happen." Section 32 to 36 defines the enforcement and possibilities of the contingent contract. Definition: A contract is a contingent... Continue Reading →

Security Deposit while renting the property

"Service is the Rent we pay for the Privilege of Living on this Earth.” Introduction A security deposit is an amount that a tenant pays to the landlord at the start of the tenancy.                The sum that a tenant gives the landlord as a security deposit is paid at the beginning of the tenancy. It is... Continue Reading →

Agreement in Restraint of Legal Proceeding

Introduction: An agreement made to restrict a person's right to legal proceedings or limit the time for filing a suit is void. But the section that declares these types of agreements has an exception that allows restricting the jurisdiction to one court and enforcement of any legal proceeding in a court of law if parties... Continue Reading →

Agreement in Restraint of Trade

Introduction:  An agreement that restricts someone from doing a lawful trade or business either wholly or partly is void as it takes away one's right to trade. The agreement that restraints doing trade in a particular area or for a period of time is also void. Although, there are some exceptions, where one can be... Continue Reading →

Boilerplate Clauses in a contract

1) Introduction: Boilerplate clauses in a business contracts are provisions which are not necessary to form part of the business deal but which are necessary to give some form of protection for a party, which explain certain method or procedures which may arise as per the contract or business relationship or to lay out the... Continue Reading →

Void Agreements

Introduction: According to section 2(g) of the Indian Contract Act, 1872 "an agreement not enforceable by law is said to be void." From section 24 to 30 of the act mentions certain agreements which are void. Although, the agreement satisfy the essentials of a valid contract. Types of Void Agreements: This act divides the void... Continue Reading →

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