Ahmed Bakran - Get started on the Real Estate Developer Path

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Stamp duty is generally calculated as a percentage of the higher among the circle rate and the agreement value of the concerned property.

The rate differs from state to state and depends on the following the factors:Status of the property: whether it is old or newLocation of the property: whether it is situated in a metro, a town, a rural area, etc.Age of the owner: Discounts may be provided to senior citizens (in some states)Gender of the owner: Female real estate owners could avail certain concessions (in some states)Usage of property: Whether it is a residential or a commercial propertyType of property: Whether it is an apartment or an independent houseStamp duty can be paid in the following three ways:Through non-judicial stamp paper: The agreement details are mentioned in this paper, and it is later signed by the executants.

It has to be submitted within four months at the sub-registrar’s office.By franking: The agreement is printed on plain paper and then submitted to an authorised bank, which processes the document using its franking machine.Online: In some states, the stamp duty can also be paid online, using the NEFT or RTGS.

Stamp duty charges range from 3% to 10%, based on the slabs determined by different states.Paid by:The liability to pay the stamp duty rests with the buyer of the property.

It is conducted mainly to verify the ownership of title over the property and any encumbrances over the property, so as to protect one against pre-existing claims.

It also includes a detailed search of all aspects relating to the history of that property such as the status of encumbrances over the property, the status of disputes relating to the property, the applicable regulations and the status of compliance of such applicable regulations relating to the property in question.Limited Search: Unlike full searches, in a limited search, the search relating to the history of the property may be limited to restricted aspects such as recent title history, encumbrances on the property, disputes related to the property etc.Typically, during the due diligence process, the following aspects will be examined:Legal capacity of the present owner of the property: It is important to check if the person is legally capable of entering into a binding contract for sale or lease of the property or for mortgaging the property.Nature of the current owner’s right over the property: It is necessary to identify the nature of the current owner’s right over the property and the transferability of such right.Source of right or title of the current owner: In India, a person can acquire right or title over the property by purchase, inheritance, partition, as a gift, through a will, or through perpetual lease (ongoing tenure over state land, issued for a specific purpose, and must be used only for the purpose for which it was originally issued).Legality of the construction: There are specific rules and regulations that govern the manner in which civil constructions need to be carried out in that particular State.

Naqvi law corporation has the best real estate lawyer ontario.

Naqvi corporation deals in realestate sale, realestate purchase and mortgage refinance.

Ezega Real Estate is the most popular Real Estate listing sites in Ethiopia.

It lists latest homes for sale & houses for rent in Addis Ababa & Ethiopia in both English & Amharic.https://www.ezega.com/RealEstate/

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It is not an easy task to buying or purchasing land in your idle location.

A lot of effort should be done in order to maintain it.

In that case, the property developer helps to find the right option for investing.

Eamon Lowe Gold Coast, a professional real estate agent configure all the pros and cons of property management after that suggests you the right option.

Get in touch with us for more info!

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