Buying a property as investment

Buying an immovable property is the end result of a combination of circumstances, factors, preferences etc. Different persons buy property with different goals and due to varying reasons. Some buy property for their own residential use, some for commercial use, some as pure investment. Here we will discuss the aspect of buying immovable property purely [...]

check-low-lying-buildings

Low lying buildings get water logged during rains

Low lying buildings get water logged during rains

Hidden cost of property

When one plans to purchase a residential flat or dwelling unit he makes back hand calculation of his likely investment for the desired unit. Accordingly he plans to pool his resources, but gradually the truth dawns upon him that the actual investment would be at least 25-30% more than he had envisaged. This variation is [...]

Wakf property

Property, both movable and immovable, permanently dedicated and donated by the owner of the said property(ies) for religious, charitable and pious purposes, as defined in and recognized by the Mohammedan Law is called “wakf property”. Such donation or dedication of property is completed by execution of a “deed of wakf “ and delivery of the [...]

Hakku Patra

Hakku Patra is the title deed to a plot of land, which establishes ownership. It is issued by the Karnataka government to the beneficiaries of housing benefit schemes. The land on which the Hakku Patra is issued, is usually Government-owned land and there are some conditions attached to it. Some of the conditions, being illustrative [...]

Intestate and testate

The aforesaid terms stand for the legal position of death of a person pertaining to appropriation of his/her property after death. A person is said to have died intestate in respect of the property, the process of distribution of which, has not been expressed by the owner during his/her lifetime. Reverse of this is the [...]

Condominium vs. Housing co-operative society

In a housing complex, a co-operative society is formed, with all the flat owners as members, to maintain and manage the affairs of the entire complex. Formation and functioning of such societies is governed by Maharashtra Cooperative Societies Act,1960. Condominium, is a group of housing units where owner of each home owns individual unit space [...]