Q.: I propose to purchase a piece of agricultural land. The vendor is a person coming under scheduled caste category. Please let me know whether or not I should go ahead with the purchase of the land?
A.: You may buy this agricultural land if the land is a self-acquired property of the vendor. If it is a land granted by the government to him for his use, you cannot purchase it as per Prohibition of Transfer of Certain Land Act 1974. If you are very particular of purchasing the property, you have to obtain permission from the government. This is not an easy task. Better not to buy the same.
Q.: 5 year old flat is up for sale. I intend to purchase it, but before doing so I would like to know if I am entitled to stamp duty concession as per the slab rate.
A.: No, you are not entitled to concessional slab rate. You are liable to pay stamp duty at ……% plus registration charges at …. %. The concessional slab rate will be available only for the first sale of the flat.
Q.: I have leased a flat and entered into a lease agreement for a period of three years. Is it necessary to register the lease agreement?
A.: Any rental agreement of more than one year must be registered before the Sub-Registrar. To avoid registration and payment of stamp duty, the lesser and the Lessee enter into an agreement for a period less than one year, which need not be registered. In case of an agreement covering a period less than one year, the applicable stamp duty is Rs. …..
Q.: The Bangalore Development Authority has allotted a site to me at Koramangala. Later, the area was developed as commercial and I altered a portion of my ground floor property for commercial use. Now the BDA has issued a show cause notice asking me to explain my action. What should I do?
A.: As per the Comprehensive Development Plan, the Metropolitan area is divided into different zones like residential, industrial, civic amenities, agricultural etc. Any development must conform to the land use of the zone in which the property is earmarked. Therefore, a site allotted for residence must be used for residential purpose only. However, if you intend to use property for commercial purpose, you have to obtain prior permission from the Town Planning Authority for the change of land use. This must be done to avoid future complications.
Q.: I have bought a residential flat from a reputed builder. Whenever I ask for the occupancy certificate, he is not giving it, telling some excuse. Kindly advise me regarding the course of action that I must take?
A.: A builder is entitled to get Occupancy Certificate from the authorities only if the builder has constructed an apartment as per the sanctioned plan. Now-a-days builders with the idea of selling more area deviate from the original sanction plan and because of this reason the authorities do not issue Occupancy Certificate to the builders. If the builder fails to provide you with occupancy certificate, in this stage you have no other alternative other than to get an indemnity bond from the builder which will indemnify you as the purchaser against all losses on account of BDA demolition or penalty and the builder is legally responsible to compensate all your losses.