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Buildnova.com - Builders Pack
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Buildnova.com - Ventures Online - FAQs
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| I.
What Is Stamp Duty? |
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Stamp duty varies from state to state. In Maharashtra, it is 10 per cent of the market value as assessed by the Stamp Office. The process is as follows. The stamp office affixes the stamp for the said value. The agreement then needs to be registered.
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| II.
What Is Registration? |
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The property agreement should be registered with the Sub-registrar of assurances under the provisions of the
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| III.
What Does One Have To Check At The Time Of Taking Possession Of The Flat From The Developer? |
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Taking possession of the flat would involve ensuring the following:
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Developer should have obtained Occupation Certificate from the Municipal Corporation
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Inspect the flat thoroughly before taking possession
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Ensure that there is a municipal water connection and electric supply.
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Ensure that you fix your own lock on the property and take the old keys from your builder.
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Indian Registration Act within four months of the date of its execution.
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| IV.
What is the difference between built up area, super built up area, and carpet area? |
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Carpet Area: The area of the apartment/building which does not include the area of the walls.
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Built up
Area: It includes the area of the walls along with the Carpet Area
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Super Built up Area: This includes the built up area
along with the area under common spaces such as the lobby, lifts, stairs, etc. in the case of apartments.
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Buildnova.com - Builders Pack
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