Kangokar Law Associates

14/04/2016

Real Estate News & Properties Updates
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4 modes to pay Stamp Duty and registration fee for your property transactions

There are four modes to pay Non-Judicial Stamp Duty and registration fee for your property transactions. You will have to select the mode of payment on the basis of the amount of stamp duty you are required to pay. The modes of payment are as follows:

Franking
GRAS
ESBTR
Stamp Paper
Out of the aforementioned stamp duty modes, franking is useful only when your stamp duty amount is less than Rs. 4,999 (Four Thousand Nine Hundred and Ninety Nine Rupees). If your stamp duty amount is more than that then you look towards other modes.

Franking

Franking is simply a government stamp which is printed on a Paper. You could pay a maximum amount of Rs. 4,999 (Four Thousand Nine Hundred and Ninety Nine Rupees) by franking,

you are required to deposit the stamp duty amount with the bank where franking service is available and get the page of your Agreement/Deed or other pertinent document franked. Please remember that signed documents are not accepted for franking.

GRAS (Government Receipt Accounting System)

To pay through GRAS, your stamp duty amount should be more than Rs. 5,000/- (Five Thousand Rupees). This service is available in selective branches of few banks. Stamp duty amount less than Rs. 50,000/- (Fifty Thousand Rupees) could be paid in cash while more than that amount has to be paid through NEFT or RTGS.

You are required to fill your personal identification and property details on GRAS website and take a print of the filled form. This form is known as challan. Further you are required to submit the challan with the relevant bank authorities and they will do the needful.

There is also a provision to complete the whole process online, if you are well versed with net banking. If you wish to complete your payment online then please select “e-payment” as your payment mode and continue towards payment.

List of Banks where GRAS service is available:

Andhra Bank
Bank of India
Bank of Maharashtra
IDBI Bank
Punjab National Bank
State Bank of India
State Bank of Hyderabad
ESBTR (Electronic – Secured Bank & Treasury Receipt)

To pay through ESBTR, your stamp duty amount should be more than Rs. 5,000/- (Five Thousand Rupees). This service is available in selective branches of few banks. Stamp duty amount less than Rs. 50,000/- (Fifty Thousand Rupees) could be paid in cash while more than that amount has to be paid through NEFT or RTGS.

You are required to fill your personal identification and property details on the site of selected banks which provide the services. Take the print out of the filled form and submit it to the selected bank branch, the bank authorities will do the needful.

List of Bank links where ESBTR service is available:

Bank of Maharashtra
IDBI Bank
Punjab National Bank
Stamp Paper

Once the most convenient way of paying stamp duty has now been reduced to being a cumbersome process. The new government formalities require that the stamp vendor record every detail about stamp purchaser and the transaction, the details are then mentioned at the back of your stamp paper.

The buying process being time consuming may invoke choicest of curses, however do keep in mind, that it is an attempt by the government to introduce some transparency in the buy/sale process of stamp Papers.

Now a days, some sub registrar offices insist on stamp duty payments by other means, hence make sure to confirm with the registrar’s office first before investing in Stamp Papers.

4 modes to pay Stamp Duty and registration fee for your property transactions

We also provide legal & judicial consultancy support in relation to buying and selling of properties (flat, apartment, duplex, house, land, and plot) in

14/04/2016

Online Registration of Leave and License

Prequisite for e registration are

Step 1 :
Visit https://efilingigr.maharashtra.gov.in/eregbom/
Create a new entry

Click Next

Also see: Click Here to View E registration Leave and License Template

Step 2:

Please enter the property details.
Make sure you enter the correct Taluka and Village details as these two details cannot be updated later once you move to the next screen

Click Save
Click Next Party details
Also see: Government appointed Competent Authority for conflict resolution in Leave and License

Step 3:

Please take a note of generated e registration leave and license token number seen in the top right corner of the screen.
Now select

Click "Save" and" Add: Party Details" button
If there are multiple owners repeat the above steps for n number of owners
Select Document presenter(Usually party who pays amount for registration)
Now select

Step 4

Click Save
To add Identifier 2 click on "Add : Identifier Details"

Step 5:

Click on "Next:Rent & Other Terms"
Enter the details as applicable

Enter the deposit amount details below
Click "Add Payment details"
Select the appropriate Term and condition(4.1 or 4.2) and click "View Selected T & C"


After completing the above details press "Save"
Click "View Draft Document" to move to the next step

Step 6:

Review the document before clicking the "Execute" button
Make necessary changes by going back if any errors found in the details


Step 7:

Now use web cam and biometric device to complete your online registration


Please mail us to [email protected] or contactus@ Kangokar Law Associates to avail our doorstep service for e registration.Happy renting !!

website description

04/04/2016

Adhar compulsory for withdrawing money from ATM Bank too
i.e fingerprint impression
So kindly acquire ADHAR CARD.

12/03/2016

Precaution to be taken before purchasing home/ plot

12/03/2016

The society shall maintain the following books of accounts,records & registers.

1) The register of members in I form
2) The list of members in J form
3) The cash book
4) The General ledger
5) The personal ledger
6) The sinking fund register
7) The audit rectification register i O form
8) The investment register
9) The nomination register
10) The society/Members loan register/mortgage register
11) The minutes book for the committee & general body meeting
12) The property & stock register
13) The structural and fire audit & lift inspection record
14) The register of nominal members
15) The register of active members.

12/03/2016

भाडेकरू ठेवण्यापूर्वी...
० भाडेकरू म्हणून निवड केलेल्या व्यक्तीस सोसायटीच्या नियमांची व आचार-विचारांची माहिती करून देणे.
० ज्या मजल्यावर भाडेकरूचे वास्तव्य आहे त्या मजल्यावरील अन्य रहिवाशांबरोबर त्याचा परिचय करून देणे व मार्गदर्शनाची विनंती करणे.
० कार्यकारी मंडळास भाडेकरूच्या कुटुंबीयांची माहिती देणे व त्यांची पूर्वपीठिका सांगणे.
० विसंवादाचे प्रसंग आल्यास वादावादी न करता सामंजस्याने वागणे.
० स्वत:च्या वर्तनातील व सवयीतील विसंगती दूर करणे.
० मूळ सदनिकाधारकाच्या सूचनांचा आदर करणे.
० विद्यार्थी, आजारी व्यक्ती व ज्येष्ठ नागरिकांना त्रास होऊ नये म्हणून काळजी घेणे. http://loksa.in/uMW172728

12/03/2016

12/03/2016

Hello !! A very important judgment which every LANDLORD must be aware of, to avoid JAIL...
Renting out the property is very common and we all are aware of it.. However, this agreement, if not registered, can send the Landlord to JAIL !!!!
The Hon'ble Bombay High Court in its recent decision of Rohit Dinesh Photographer V/s. State of Maharashtra (2014(5) Mh.L.J. 317), gave no reliefs to Landlord who was behind the bars for want of registering the rent agreement....
As per the provisions of Maharashtra Rent Control Act, Sec. 55, any rent agreement of any property has to be registered and the responsibility of registering the same is on Landlord / Licensor, failure of which a landlord may suffer imprisonment of 3 months and/or fine of Rs.5000/- !!
This provision is applicable to all the rent agreements which came in to existence after 31st march, 2000, i.e. the date of commencement of Maharashtra Rent Control Act.
There is a difference between "ex*****on" of documents i.e. singing the document and its "Registration", before the Registrar !!!
The cost of Registration is much more lower than cost of the future problems which a Landlord may require to face... The Tenant / Licensee is also benefited if the agreement is registered as it will be helpful for the Tenant for getting Gas, Telephone connection etc.

Hence please make the Registration ! Its in your interest !!
(Kangokar Law Associates even provide hassle free service in registering agreement online.)

12/03/2016

NRI can also purchase house in India

National Consumer Disputes Redressal Commission (NCDRC): “It cannot be made a ‘rule of thumb’ that every NRI cannot own a property in India. NRIs do come to India, every now and then. Most of the NRIs have to return to their native land. Each NRI wants a house in India. He is an independent person and can purchase any house in India, in his own name,” observed NCDRC while directing Supertech Ltd to pay around Rs 64 lakh to two NRIs for denying possession of a flat in Greater Noida in Uttar Pradesh. Earlier, the complainants had booked a flat in seven Star luxurious flat/ apartment in Czar Suites, measuring 2490 sq.ft super area with Supertech Ltd. in 2008. The said apartment was to have 4-BHK with servant quarter and modern facilities. The complainants made payment of Rs.63,99,727/-, i.e., about 86.66% of the agreed value of the flat, by September, 2008, within four months of the allotment letter. The installment, due in September, 2009, was to be paid only when the flat appeared to be almost ready and it was apparent that its possession would be handed over in December, 2009. As no construction commenced for the flat till March 2011, complainants approached NCDRC for refund and damages. In its defence, Supertech Ltd. claimed that the flat which was booked in the name of an NRI, was not for residing purpose but solely to earn profit and the complainants could not claim themselves to be a “consumer”. Supertech Ltd. also contended that an alternative flat was offered to the complainants by the Builder but they rejected it. While rejecting both the submissions of the Builder, NCDRC observed that every non-resident Indian, who returns to the country “every now and then”, can purchase a house in India, hence is a consumer. The Commission further noted that any other flat cannot be imposed upon the consumers and they have got their free will to accept or reject the other flats offered by the Builder. While deciding in favour of the Complainants, NCDRC directed Supertech Ltd. to return the amount of Rs.63,99,727/-, to the Complainants along with interest @ 18% p.a., from the date of its deposit(s), till its recovery.

02/03/2016

Difference between notarized and registered leave and license agreement

I am planning to rent out my flat for a period of 11 months. I would like to know the legal difference and values between notarized and registered leave and license agreement? Which one is safer and why? Please advise which one should I go for?

Ans..Both are good if you know tenant well as notarized saves money compared to registered. However, if you need to go to court for any reason, only the registered agreement is held valid.

So, registered agreement is safer but more expensive. Decide

KANGOKAR ASSOCIATES ADVICE
Under the provisions of section 55 of the Maharashtra Rent Control Act,1999 a leave and licence agreement is required to be registered under the Registration Act,1908,which in turn provides for registration with the Sub-Registrar. Executing the leave and licence agreement before a public notary is not enough to comply with the law.

So go for e registration only for Rs 1000/- cheaper then registered notarisation