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FAQ
FAQ
Popular Question
What is the difference between leasehold property and freehold property?
The difference between a leasehold property and a freehold property lies in its ownership. In a leasehold property, the ownership remains with the concerned local authority or the government (as the case may be). The lease period varies typically between 30 to 99 years. But, this does not prevent the individual owner from selling or perform other transactions with the property, provided the lease deed is registered.
In case of a freehold property, the owner of the property is the legal owner and can sell/lease/rent the property as per his/her wish.
What is the “Sale Deed” document?
“Sale Deed” is the document that needs to be registered in the office of sub-registrar in order to make the sale happen. Unless the sale deed is done, you do not become a legal owner. Hence, ask the builder or salesperson about the sale deed? When is it going to happen? The sale deed is generally done, only when the builder gets all the dues from your end.
How can I convert a leasehold property to freehold?
The property could be converted from leasehold to freehold if the local laws allow it. For example, properties under DDA can be converted to freehold by executing a Conveyance Deed but the same is not allowed if the property is owned by the Noida Authority.
FAQ
Other Questions
What is the Lal Dora or Red Tape property?
Lal Dora land or Red Tape property is the name classification assigned to the part of village land, which comprises the village habitation, referred to as abadi in this context. This land was usually used for keeping livestock and farm produce
The practice has continued since then and in the ‘lal Dora’ areas the villagers can build houses without building by-laws and can set up certain establishments without permission. The Government had extended ‘lal Dora’ only once after independence in 1947. In 1983, lal Dora was extended in six villages of the city. In other words, residents of extended village abadi would also get benefit as per relaxation in villages falling under lal Dora from building by-laws and house tax. Currently, there is no house tax up to 200 sq metre plots and houses and it is free from building by-laws in villages falling under lal Dora.
What is the “section 143” in Property.
“Section 143 of the UP Zamindari Abolition and Land Reforms Act authorises the Sub-Divisional Magistrate (SDM) of the area to change the nature of a land from agricultural to residential,” says Lucknow-based lawyer Prabhanshu Mishra.
What is the difference in between of sale deed and General power of Attorney(GPA)?
A sale deed is a legal document that showcases the transfer of title, rights, and ownership of a property from a seller to a buyer.It is the most important document that legally reports the proof for the buyer and seller. It is an essential document for both the buyer or the transferee and the seller or the transferor. The purchase or sale of the property is not legally complete until a sale deed is signed between the buyer and the seller. Normally, a sale deed is signed only after both the parties are satisfied and comply with the terms and conditions.
General power of Attorney (GPA) is a registered document made giving rights to a person to sell, mortgage or donate that property and the decision taken by him is acceptable to the owner. If the GPA document is registered there will not be any problem for the seller as well as the buyer in that transaction. But here also one should check all legal papers related to that particular property.
What is mutation of property?
Mutation is the change of title ownership from one person to another when the property is sold or transferred. By mutating a property, the new owner gets the property recorded on his name in the land revenue department and the government is able to charge property tax from the rightful owner. The documentation procedure and the fee payable vary from state to state.
Also known as ‘Dakhil Kharij’, mutation of a property should ideally be taken every six months from the revenue office in order to check for any wrongful transaction on the property.
What do You Mean by Stamp Duty?
While transferring the title of your property to another person, you will be charged property stamp duty. This is a fee that is levied by the state government on the documents you need to register your property. Stamp duty and Registration Charges differ from one state to another. You will have to pay Stamp duty while registering a property as it is mandatory under Section 3 of the Indian Stamp Act, 1899.
Owner Stamp duty as percentage of the property value
Man 7%
Woman 6%*
Man + woman 6.5%
* Note: Even though women are offered a 1% reduction in stamp duty charges in UP, this reduction is applicable only up to Rs 10 lakhs out of the total value of the transaction.
How can I find the information about property of UP online?
www.bhulek.up.nic.in