FAQs

Carpet Area: This is the area of the apartment that does not include the area of the walls i.e. the area of the apartment that a carpet can cover.
Built-Up Area: This is the area of the apartment that includes the area covered by the walls.
Super Built-Up Area: This includes the built-up areas such as the lobby, lifts, stairs etc. This term is therefore only applicable for multi-dwelling units, such as flat complexes.

NRIs can be defined as:

• Indian citizens who stay in a foreign country for employment
• Indian citizens carrying on their businesses or vocations
• Indian citizens abroad for any other purpose in the circumstances indicating a definite intention to stay outside India for an indefinite period

NRIs can also be:

• Indian citizens working abroad on assignment with foreign governments or international agencies
• Officials of central and state government and public sector undertakings deputed abroad on temporary assignments or posted to their offices abroad
• Indians who have settled abroad permanently or gone abroad on immigration
• Non-resident Indians become residents of India once they come back to India to engage in employment, for carrying on any business or vocation, or for any other purpose indicating a definite intention to stay in India for an indefinite period.

By registering the transaction of an immovable property, it becomes permanent public record. Title or interest can be acquired only if the deed is registered.

If you purchase a new flat within two years of the date of sale of the original flat and invest the entire amount of capital gained into the new flat, you will not have to pay any capital gains tax.

There is no new provision in the new Rent Act regarding the prescribed percentage of tenants willing to form a society.

Approach the Registrar of Co-Operative Societies and file the various relevant documents.

A notice is sent to the tenant, failing which a court case may be filed. It usually takes 10 to 20 years to reach a verdict.

There is no prescribed norm for determining the market rent rate though it can be easily found out by approaching individuals such as brokers, registration authority, etc.