Real Estate Legal Guide & Laws

Responsible usage of space can help maintain sustainable growth in a heavily populated metro city like Chennai. The Tamil Nadu government is constantly modifying the regulations to ensure better planning. For example, the revised regulations in Chennai fixed the maximum permissible FSI an

An indemnity bond serves as security, guaranteeing compensation in the event of a personal loss or default on a loan payment. It protects the bondholder and ensures the fulfilment of contractual obligations. If the principal fails to meet the agreement, they must settle the bonded amount,

Floor Space Index or FSI in Mumbai refers to the ratio between the complete built-up area of a plot and the available plot area. The guidelines for FSI for residential building in Mumbai are determined by the government of the region and follows the National Building Code for the ent

While buying any property, the circle rates of the area is an important factor in determining the property’s price. In Gurgaon, the circle rate is calculated based on the demand for properties in an area. The circle rates Gurgaon has been revised recently on January 10, 2024, and with thi

Stamp duty on a gift deed is a compulsory tax paid when the property or assets are transferred as a gift. A gift deed is a legal document that allows the voluntary transfer of money without any exchange of money. It is the best way to avoid legal disputes and ensure clear ownership. It is

The Maharashtra Housing and Area Development Authority is also known as MHADA. Responsible for conducting housing lotteries in the state of Maharashtra, the MHADA board has successfully conducted the disbursement of over thousands of flats for the lower and middle-income groups of the soc

The full form of the SARFAESI Act is the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. SARFAESI was passed in 2002. This act manages how financial assets are turned into securities and rebuilt. It also ensures security interests are enforc

Property foreclosure refers to the legal process through which a lender reclaims a property from a borrower who has failed to meet their mortgage or loan obligations. This process allows the lender to recover the outstanding debt by selling the property.