Documents By Vinod Arora

  Stamp Duty and Registration Charges in Delhi (For areas under the jurisdiction of MCD) On property purchases in the National Capital of Delhi, home buyers have to pay Stamp Duty and Registration Charges at the time of property registration. However, with an aim to increase home ownership, Stamp Duty in Delhi is kept lower for women buyers. The Registration Act of 1908 makes it necessary upon the buyer of a property to pay Stamp Duty at the time of property registration. Through the registration process, the ownership of a property is transferred in the name of the new buyer from the old, in the government records. Unless a property is registered in the name of the buyer, he/she will not be able to prove his/her ownership of the asset in the Court of Law. Percentage of Stamp Duty in Delhi (For areas under the jurisdiction of MCD)   Gender Percentage Rate of Stamp Duty MALE 6% FEMALE 4% JOI...

Legal Heir Certificate/ Surviving Member Certificate A Legal Heir Certificate also known as Surviving Member Certificate is issued to prove the right legal heirs left behind by the deceased person. This Certificate is generally required as proof of surviving member to avail different benefits from the different places and in the Government Services where surviving member are preferred. The legal heir certificate consists of details like name, age, relationship with the deceased and photograph of all surviving family members. BENEFITS OF LEGAL HEIR CERTIFICATE ·         To establish relationship with the deceased; ·         To establish claim over the deceased’s assets, movable and immovable; ·         To claim employee benefits of the deceased like family pension, PF, gratuity, etc.; ·         To claim insurance of the deceased; · ...

Delhi Government has divided the properties in Delhi / New Delhi city into 8 categories - Category-A , Category-B, Category-C, Category-D, Category-E, Category-F, Category-G and Category-H. Most expensive posh areas of the city are part of Category-A while Category-H has the lowest value areas of the city. List of the Categories with the respective areas follows: CATEGORY-A Anand Niketan, Basant Lok DDA Complex, Bhikaji Cama Place, Friends Colony, Friends Colony West, Friends Colony East, New Friends Colony, Golf Links, Kalindi Colony, Maharani Bagh, Nehru Place, New Friends Colony, Panchshila Park, Rajendra Place, Shanti Niketan, Sunder Nagar, Vasant Vihar. CATEGORY-B Maurice Nagar, Munirka Vihar, Neeti Bagh, Nehru Enclave, Nizammudin East, Pamposh Enclave, Safdarjang Enclave, Sarvapriya Vihar, Sarvodaya Enclave, Anand Lok, Andrews Ganj, Defence Colony, Kailash Colony, Greater Kailash-I, II, III & IV, Green Park, Gulmohar Park, Handard Nagar, Hauz Khas. CATEGORY-C Alaknanda, Chitt...

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  The Buyer has to deduct TDS (under section 194-1A of the Income Tax Act), at the rate of 1% of the total Sale Consideration. Note that the Buyer is required to deduct the TDS, not the Seller. The rate is 0.75% for property transactions carried out from 14 th May-2020 to 31 st March-2021. No TDS is required to be deducted if Sale Consideration is less than Rs. 50 Lacs.

In order to keep check on price speculations, the State Government decides the Circle Rates in the city of New Delhi, for different localities. These Circle Rates are the minimum property prices at which a sale of a property can take place. The Circle Rates in New Delhi are decided by the Delhi Government. Usually, the Circle Rates in New Delhi are reviewed annually, to keep them line with the market rates. However, in a recent announcement, Finance Minister Nirmala Sitharaman has allowed the homebuyer to buy a home at a 20% lower value than the Circle Rates. This new norm will be applicable to properties priced below Rs. 2 Crores, till June 30, 2021. 

  Stamp Papers valid even after six month of Purchase Friday, May 25, 2012, According to Supreme Court Judgement dated 19-02-2008 in the case of Thiruvengada Pillai vs. Navaneethammal and Anr., the stamp papers do not have any expiry period. Relevant extract from SC judgement is reproduced herein below: The Indian Stamp Act, 1899, nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. The stipulation of the period of six months prescribed in Section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper. Section 54 does not require the person who has purchased a st...