What is Occupancy Certificate in Bangalore? The Occupancy Certificate in Bangalore is issued by a statutory authority e.g. BBMP or BDA in Bangalore allowing permission to “occupy” any property. It is required for commercial buildings and for residential buildings that have more than five units. Obtaining an OC is a requirement under the Karnataka Apartment Ownership Act, 1972. Why is Occupancy Certificate so crucial in Bangalore? The certificate of occupancy in Bangalore is one of the most crucial documents a homeowner must possess. Once a developer completes a project, it is issued an occupancy certificate by the local town planning authority. In... Continue reading
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Property Legal Advisor in Bangalore
Sampriti was looking for an independent house to buy in Bangalore. Her husband Nitin was in search of a property Legal Advisor in Bangalore. Whenever Sampriti gets a builder, they suggest a Legal Advisor. All the Property Legal Advisor in Bangalore used to say that the property is good. Continue reading
Sale deed and registration
‘Agreement for Sale’ or popularly called ‘Sale agreement’ contains the mutually agreed upon Terms & Conditions between Seller (Vendor) and Buyer (Purchaser) for the sale of the property. This agreement governs the whole property transaction and it stays valid until the property is registered or unless otherwise mentioned. Continue reading
Know all about Encumbrance Certificate in Bangalore - Zippserv 2017
The word encumbrance means, ‘a claim on property or assets’ or ‘a mortgage’. Encumbrance certificate in Bangalore is a document issued by the sub-registrar's office which reflects these encumbrances on a particular property in a chronological order. The encumbrance certificate is a mandatory document used in property transactions as an evidence of free title/absolute ownership. Continue reading
Stamp Duty, Registration charges for Flats, Land and Property in Bangalore
Stamp duty and Registration costs are associated with the purchase of a flat. Stamp duty and Registration charges vary from state to state. These are payable under Section 3 of the Indian Stamp Act, 1899. The government collects these Charges to validate sale agreements as well as to keep a record of it. Continue reading
The History and Background of rajakaluve
To understand the history and background of Rajakaluve, we have to go back to history. The geography of Bangalore plays an important role in the creation of Rajakaluves. Bangalore is situated in the heart of Mysore plateau with an average elevation of 900 meters (3020 ft). Because of the higher elevation, water becomes a scarce commodity in this region. To Solve this problem, around sixteenth centuries most of the lakes were created. Lakes play an important role in recharging the ground water. If we trace back the history of the creation of these lakes, it points to the Kempe Gowda, Wodeyars and the British. Continue reading
Home buying? Why legal checks by banks might not be enough!
A home loan seems like a stamp of approval on the apartment you are buying! After all, if a prominent bank says that the project is okay, then obviously things should be fine. Shouldn’t they be? Think again – read more in our blog to know how a bank approval does not necessarily guarantee your project being risk free. Continue reading
Home buying in 8 simple steps
Buying an apartment or a house is, from the investment perspective, the biggest decision people usually take (well, some lucky few make a business out of buying property, but we are not talking about them here). Given that a decent house sets you back by somewhere in the range of a crore, we would urge that you look up all possible property portals, consult most of your friends and visit multiple locations when you are in the frame of mind for buying Continue reading
4 Risks to Watch Out for Before Investing in a Property in Bangalore
Buying a property in Bangalore, today, can be an exhausting experience for an average, middle-class citizen. Securing a home loan for your property does not guarantee its title nor vouch for its genuineness. A buyer is the absolute owner of the property. The responsibility of repaying loans with interest over the next 15-20 years, rests wholly with the buyers even if they lose their property due to encroachments, title defects, litigation, unauthorized layouts, notified parcels of land and illegal constructions or deviations. It is therefore imperative to get all aspects of the property verified before putting one’s valuable life savings at risk. Continue reading
Power of Attorney - Explained!
Power of Attorney (POA) is a legal document that gives right or authority to one person (who is referred as an agent) to sign the documents on behalf of another (who is referred to the principal). The purpose of this law is to make it easy to designate a person to access your finances, legal or property related matters on your behalf. This appointed agent or legal representative can enter into a transaction or any other legal issues. In such cases, the other person’s signature is legally effective to the same extent as if the principal has signed the document. Continue reading