I am interested in understanding how the Transfer of Property Act (TOPA) deals with the concept of ‘lis pendens’ and its implications? —Name withheld on request Lis pendens in common parlance means “a pending legal action”. The doctrine of lis pendens finds its place in Section 52 of TOPA which provides that if there …
“Jenny From the Block” is looking to live in a new borough. Jennifer Lopez and Ben Affleck were photographed house hunting in New York City over the weekend, nearly one year after buying their $60 million Beverly Hills mansion. The couple bundled up to check out various townhomes on the Upper East Side, with the …
However, the large ticket size meant that the asset class was always exclusive to HNIs or institutional investors. Over the last half a decade, with the advent of tech platforms and listing of Real Estate Investment Trusts (REITs), this asset class has become more accessible to the general public due to smaller ticket sizes in …
It is particularly beneficial for those senior citizens who require a consistent income source since the loan amount is not required to be repaid until the borrower either sells their home or moves out. What is a reverse mortgage? A reverse mortgage is a loan available to homeowners aged 62 or older, allowing them to …
There are 14 legal heirs to my grandfather’s residential property. Twelve of them will waive their rights to the property. Instead, those rights will be passed on the son of my late uncle and me. To facilitate this transfer, we will each make a payment to the other heirs and then sell the property. We …
To gauge the government’s stance on home loan interest rates in Budget 2024, homebuyers and industry experts should closely monitor official statements, policy announcements, and economic indicators, says Atul Monga, CEO and Co-founder, Basic Home Loan. In an interview with MintGenie, Monga said that reviving expired incentives, such as tax breaks, is crucial for affordable housing. Edited Excerpts Can …
Synopsis In theory, lower interest rates are supposed to push demand for real estate. but if one looks at what has happened in the last one year, this theory has been turned upside down. Interest rates are high on a relative basis as compared to what they were three years back, but still demand for …
My mother, who owned a house in Lucknow, died recently without leaving behind a will. Of my three siblings, one sister and a brother died sometime ago. Can my niece, the daughter of my late sister, claim a share in my mother’s property? —Name withheld on request We assume that your mother was a Hindu …
I purchased a commercial property in 1999, paid the full amount and earned rent on it. The registration of the property was done in 2011. I sold the property this year. To calculate capital gains, for which year should the cost of acquisition be indexed—2001 or 2011? —Name withheld on request As per the facts …
I used the capital gains from sale of stocks in FY 22-23 for constructing my house. This is my first property. I missed claiming tax exemption on the amount I spent on construction in ITR for FY2023. Can I revise the ITR and claim exemption under 54F? I will book more capital gains this fiscal …