In this digital era, Buying a Property Online is quite an exciting thought. E-Commerce is now running into our bloods. When builders are struggling to sell through traditional channels, Buying property online seems to be last ditch effort from builders to push sales. There are no geographical boundaries, convenience, ease and speed makes it win-win situation for both buyer and the builder. Before i proceed, let me clarify that you are not buying a property online but only booking the same. Booking amount paid is non-refundable and it seems to be the commission of E-Commerce player for ... Read More
11 Questions You Should Ask Builder
Its an irony that we don't pose relevant questions to builder while buying a property. A typical trait is that we spend more time probing and bargaining for low value items than big ticket purchase like a house. In a recent behavioral study, it was concluded that we probe and bargain most while buying from roadside stalls. Nothing new in this as i have never seen people bargaining in malls. This study holds true for property purchase from builders. A buyer is afraid of asking too many queries from builder. If i suggest my clients to ask few imp questions from builder, Builder has standard ... Read More
7 Important Points about Joint Property
The concept of "Joint Property Purchase" is being popularized by Home Loan Providers and the Govt. The objective to promote Joint Property Ownership is different for both Govt and the Home Loan Providers. State Govt's are providing incentives in stamp duty and registration charges to empower women through Joint Ownership. In many cases, i observed that Husband is willing to include Wife as a Joint Owner only to save stamp duty. Whereas from Home Loan provider perspective, they have selfish motive to safeguard their business interest which is not wrong also. Home Loan provider first push for ... Read More
5 Questions a Buyer Must Ask a Seller
As we know that while buying a property entire risk rests with the buyer. It is imperative for buyer to ask a seller few imp points. In this post we will discuss 5 such questions which a Buyer Must Ask a Seller before buying a property. In India, most of the property deals are closed through Real Estate Agents or Brokers. Normally Brokers don't allow buyer and a seller to discuss the nitty gritty of the deal. All the communication is through Real Estate Agent which might create confusion at later stage. I have observed that Real Estate Agents usually favor the seller therefore the interests of ... Read More
Delay Property Registration to Save Tax
Do you know if you Delay Property Registration then you can also Save Tax :). At first instance it sounds very confusing and contradictory but it is true. Recently one of my client Ms. Rashmi was planning to register resale property in Ahmedabad. I asked her whether she can wait till April'15 for property registration and she told me that it is feasible. I suggested her to Delay Property Registration till April'15 and she can save tax by doing so. Any property registration during last quarter of Financial Year i.e. from Jan to Mar should be done after due diligence. Reason being we are towards ... Read More
How to Pay Token Money?
How to Pay Token Money is most frequently asked question from my clients. As i keep highlighting that token money should paid by buyer once he has clarity how he will arrange funds for the transaction. If buyer fail to arrange the funds then stands to lose the entire token money. Payment of Token Money is imp because seller will not share copy of documents for Home Loan processing till buyer pay token money. For buyer its a catch 22 situation because most of the time Token Money is paid without any legal formalities. As i mentioned, buyer carries the risk of losing money if something goes ... Read More
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