 |
 |
|
|
| search a lawyer |
|
|
| ACTS, STATUTES |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Home > Real Estate, Wills, Probate and Trust > Real Estate in India- An Attractive Venture For Non-Residents Indians. |
|
|
|
 |
 |
| Applicable Laws |
|
Please Login to view further pages.
Applicable laws:
Documents by which the immovable properties are transferred require registration and attract stamp duty. The Indian Stamp Act, 1899 determines the amount of duty payable on each of the document of transfer. The Stamp Act is a Central Act; however the rates of stamp duties are determinable by the state government of the state where the immovable property is situated. The Registration of the document has to take place in the office of sub-registrar of the district where the property is situated.
Where a foreign national is involved or where foreign exchange is involved in the transaction of the immovable property, FEMA would also be attracted.
Land Ceiling Acts have been promulgated in the country to avoid accumulation of lands in the hands of few. The respective state governments have fixed the land size, both in urban and rural areas, beyond which a person is not allowed to hold. Any person holding more than the specified ceiling land may have to forgo the same in favour of the government.
Any one desirous of purchasing the immovable property in the urban areas of the country must verify the local municipal laws to determine if the constructed property/intending constructed property is as per the sanction laws of the local municipal authorities. It also needs to be determined the permitted land user of the land which is intended to be transacted.
Last but not the least it would be necessary to examine the provisions of Income Tax Act, 1961 and Wealth Tax Act.
<< PREVIOUS NEXT >>
|
|
|
|
|
|
|
 |
 |
|
 |
 |
|
|
|
|
|
| Personal Phone Legal conference |
Discuss your legal concerns from anywhere in the world in person, on phone
Click here for appointment |
|
| Property / Real Estate |
Legal verified real estate. Choose from our list of properties with clear title.
Search property |
|
|
|
|
|
|
|
|
