realty4asia is a reputed Real Estate Portfolio Management Organisation pioneer in the segment of Top and Exclusive Commercial & Residential Real Estate in Delhi NCR.
Our company holds a reputation of having associated/partnered with some of the most respectable real estate developers and promoters. Our focus is to bestow the honest, authentic, cost effective, hassle free and quick services to our esteemed customers. Established in 2014, we are one of the foremost real estate brands of Delhi NCR.
The buyer needs to pay the following taxes: TDS or tax deduction at source on amount exceeding Rs 50 lakhs for the purchase of property excluding agricultural land. Stamp duty Service Tax - Applicable if the property is being purchased from the builder who conceived and constructed the project before offering possession to the buyer. If a `ready to move in' property is purchased from the seller, service tax is not applicable. Value Added Tax (VAT) - If applicable in the concerned state.
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.
Power of Attorney allows a person to authorize another person the right to make decisions regarding the person's assets, finances and real estate properties. There are two types of power of attorney. First, the 'General Power of Attorney' where a property owner confers 'general' rights. The rights include but are not limited to sell, lease, sub-lease etc. The second one is the 'Special Power of Attorney' where only a specific right is given by the owner to the chosen person.
Registration of a property includes necessary stamping and paying of registration charges for a sale deed and getting it recorded at the sub-registrar's office of the concerned jurisdictional area. If a property is purchased from a developer directly, getting it registered amounts to act of legal conveyance. In case the purchased property is a second or third transaction, it involves a duly stamped and registered transfer deed. Nowadays, property registration process is computerized in most states.