Month: June 2012

How to buy or sell a flat which has a loan on it

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

It is often seen that flats which one wants to buy or sell have a pending loan on them.In such cases,it becomes confusing as to what the exact steps are to conclude the deal successfully.Most people think that they need to settle the loan before selling it.For that they either pressurize the owner to settle the loan and get a no-dues certificate from the bank or they lend money to the owner to settle the loan and then hope to adjust that amount in the purchase price. However,there is a better,easier and safer way. The steps are outlined below… If the buyer is buying without taking a loan The owner of the flat contacts the bank and asks for a ‘loan outstanding letter’ which lists the amount outstanding.A list of documents mortgaged with it is also listed in the letter. The owner of the flat gives these along with a xerox copy of all the documents mortgaged with the bank along with any supporting papers that purchasers bank may require. After verification of the documents with the bank,the buyer pays a token to the seller and enters into an ‘agreement to sell’ with him.This agreement is registered with the registration office.…

Continue reading How to buy or sell a flat which has a loan on it
Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The much touted ADDITIONAL FSI APPROVAL PLANS of NMMC standing committee have come under fresh fire from none other than the Town Planners Association.
It was also revealed that the ‘Professional’ report prepared by CRISIL is nothing but an eyewash.

After studying the said ‘professional’ report, it has come to light that the CRISIL report is far from FOOLPROOF as cited by the ‘guardian’ minister Mr.Ganesh Naik.
The report clearly says that a comprehensive review and study of mass transportation networks is needed to be done. The level of skills needed for such a study is not in the domain of the CRISIL report, it says.
If such a study is not in the domain of CRISIL, then on what basis does the ‘Guardian’ minister Mr.Ganesh Naik say that the report this time is ‘foolproof’?

After studying the tender issued by NMMC it further comes to light that CRISIL was never appointed to study the impact of additional FSI at all but to ‘conduct a survey to revise NMMC’s revised development plan prepared in 2007.

This raises the very very important question : If the study was not for the impact of additional FSI then why did the Minister Ganesh Naik mislead the population of Navi Mumbai ?

Activists and town planners now plan to oppose this tooth and nail.
The present regulation requires a committee comprising of the Municipal commissioner, PWD superintending engineer thane, DY director of town planning at Konkan Bhavan and Chief architect and planner of CIDCO to decide whether the building is really dilapidated and dangerous and hence fit for redevelopment.
The politicians now want to randomly change the composition of this committee so that every employee of the committee is a member of the NMMC so that NCP (the party controlling the NMMC) has a free hand in deciding the fate of Navi Mumbai.

On the face of it, it looks like a conspiracy of the builders and politicians to benefit the builders who will get to sell additional flats in the said buildings without spending money to buy the land.

One can also go in for self redevelopment, but how many people have the resources for that is a question.

This battle has just started, but the conspiracy is evident already.

Kharghar struggles with garbage collection

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The citizens woes in Kharghar continue with the garbage disposal and clean up. CIDCO officials have admitted for the first time that Kharghar has almost become a garbage dump.It would help to remember that there is no municipal corporation governing Kharghar since it is considered a developing node. Municipal handover will take place once the node of Kharghar is considered ‘developed’ (whatever that means).CIDCO is currently incharge of the node and has outsourced most of the civic responsibilities to private contractors. Builders dumping the excavated mud and soil from their construction sites have added to the mess.CIDCO has appointed a new garbage collection agency called BBG pvt ltd, which will co-ordinate with the citizens as volunteers to supervise operations. The earlier contractor was M/s Antony Infrastructure pvt ltd. The new contractor will be paid Rs 1062 per ton.Illegal meat shops in sector 15 have also added to the problem by dumping their ‘waste’ on open grounds.Besides this, Kharghar has also been facing a problem with the property tax issue. Currently, Kharghar residents are paying taxes to 3 different entities. Cidco, Tehsildar and gram panchayat.Residents are paying service tax to Cidco, property tax to the gram panchayat and NA (Non Agriculture)…

Continue reading Kharghar struggles with garbage collection

Builder fined for delaying flat posession

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The Maharashtra State Consumer Disputes Redressal Commission (Consumer Court) has asked M/S Vaidehi Akash Housing Pvt limited,to pay the expenses of stamp-duty,registration and conveyance for a 1000 sq ft flat located on Veera Desai Road(Andheri West).The builder had not handed over the flat to the buyer even seven years after making the full payment of 22 lakhs.The commission also told the builder to handover the flat within 45 days or else he will have to pay another 5 lakhs as interest. The builder had issued an allotment letter dated March 22,2005  but did not execute the sale agreement for the 22 lakhs paid to him.Despite repeated summons,the company and its directors failed to appear before it.The commission then passed an exparte order against them. Most people are unaware that they can pursue the builder for any problems in the consumer court and that the law is almost always on their side.Problems such as delayed conveyance,delayed society formation etc etc can be pursued in the Consumer Court and does not  require a lawyer.Just a plain paper submission is ok.

Mhada cancels allotment of 39 prime plots in Mumbai

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The Mhada vice-president and CEO, Mr.Satish Gavai announced on tuesday,19th June 2012,that Mhada had cancelled allotments of 39 prime plots which were given to ‘prominent personalities’ and ‘trusts’. In most of the cases these ‘prominent personalities and trusts’ were nothing more than front companies for politicians and their families. The regulation under which they were ‘distributed’ was the Regulation 16 of Mhada act. Most of these ‘allotments’ were under the watch of Vilasrao Deshmukh and Sushil Kumar Shinde (ex-cm’s of Maharashtra).Most of these plots were reserved for affordable housing or schools and hospitals to charitable trusts. The politicians in control amended the rules to engineer this scam.68 plots spread over 20 hectares of land were allotted at a negligible rate by a sub-committee of Congress and NCP ministers. Deshmukh sanctioned 52 and Shinde sanctioned 15.All the beneficiaries were politicians, builders, bureaucrats, housing societies and trusts controlled by Congress and NCP ministers.This allotment of public housing plots was stopped in April 2004.39 cases are still pending.In one such case a 10,000 sq mtr plot in Oshiwara was meant for a hospital but was given to Nargis Dutt Trust. After it was sanctioned the land in 2000,the trust wanted to pay just…

Continue reading Mhada cancels allotment of 39 prime plots in Mumbai
WeCreativez WhatsApp Support
Send a whatsapp msg
👋 Hi, how can I help?
Contact on Whatsapp