The Uttar Pradesh government has decided to do away with the stamp duty in case a property is transferred to a family member. Until now, a seven percent (7%) stamp duty was applicable on such property transactions. The proposal to do away with stamp duty on property registration for family transfers has been cleared by the Uttar […]

Lease vs rent is an often-debated topic in Tenancy. In fact, both words rent, and lease are used interchangeably to denote a tenancy agreement between a tenant and a landlord. Similar in some respects, the duration, and terms of reference, and tenancy conditions vary in both lease vs rent. The tenancy can be created both by a […]

What is land encroachment? Land encroachment is a process when someone violates an owner’s property rights. A person enters a building or a property unlawfully or extends some part of the building into someone else’s structure intentionally or unintentionally. Land encroachment is also sometimes called property encroachment, but there is a very thin line between […]

Seller’s Responsibilities During Transfer of Property Section 54 of Transfer of Property Act 1882 defines ‘Sale’ as the transfer of ownership of property in exchange for a price promised, paid, part-promised or part-paid. The section discusses the responsibilities of the seller during the transfer of property. These responsibilities are listed below: On request for examination by the […]

Stamp duty and registration charges are fees and taxes levied on the property’s market value. These charges are decided by considering the circle rates of the property and various other factors. For stamp duty in MP and registration charges, the Registration & Stamps Department is responsible. It is also one of the leading revenue-generating departments of […]

The Reserve Bank of India’s (RBI) decision to increase repo rate by 50bps was on expected lines, however, it is likely to impact homebuyers negatively as EMIs are set to get costlier. Apparently, the repo rate will prompt the banks to increase rates on all kind of loans, including auto loans. The repo rate is […]