Power of Attorney (PoA) is an important legal document in real estate and property related transactions. However, not many people understand the importance of documents. Autoscale team would explain the power of attorney and its significance. What is Power of Attorney : A power of attorney is an instrument that is used by people (principle) to confer…
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All you need to Know about Stamp Duty
What is stamp duty & why to pay it? Possession is the physical transfer of the property is not sufficient. You also need to have legal ownership. At the time of registration, you will also have to pay a stamp duty which is a government tax levied on property transactions. Buying a house is one of the biggest…
Real Estate Basic Knowledge – Loading Fector,OSR, FSI & Construction Stages
Loading Factor : Loading Factor can be defined as the area which includes the proportionate share of the common area for a flat which is determined by applying a multiplier to the carpet area. In general, builders include space around staircases and elevators as common areas while calculating the loading factor. Thus, loading factor, when combined with the carpet area,…
Documents needed while doing a purchase/sale of property?
The following documents are required to be carefully seen (in case of bank loans, the bank will also demand these) – 1. Blue print of the plan from the builder (In case of flat / constructed property)[not relevant for land] 2. Commencement certificate[not relevant for land] 3. Completion certificate [not relevant for land] 4. Permission for Non agriculture use of…
What is FSI (Floor Space Index)?
FSI stands for Floor Space Index also known as Floor Area Ratio (FAR). FSI means the ratio between the area of a covered floor (Built up Area) to the area of that plot (land) on which a building stands. This numeric value indicates the total amount of area (on all floors) you can build upon a plot. How to calculate FSI for…
Home Loan Terminologies – Autoscale
When you are in the process of availing a loan to buy your dream home, financial institutions or banks usually use a number of technical terms which may sound new to you. The below article provides a list of number of technical terms used by banks when you avail a home loan. 1) Margin When you take a loan, the…
What is Jantri(જંત્રી)? – By Autoscale.
What is Jantri? Jantri rates are the minimum price of land / building in a particular area or Jantri is the government document which specifies the market price of the land and buildings. On the basis of Jantri rates government decides stamp duty to be collected in any sales deed of land or building. In…
What is Carpet area, Built-up area & Super built-up area? -By Autoscale.
What is meant by carpet area, built-up area and super built-up area? Carpet area is the actual usable area of an apartment, office unit, showroom, etc minus wall thickness. Carpet area is the area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls. …
વસિયતનામું એટલે શું? વસિયતનામાં ઉપર ઈન્કમ ટેક્ષ લાગે કે નહીં?
વસિયતનામું : વિલ અને વસિયતનામું ખૂબ પ્રચલિત શબ્દ છે. વિલ એટલે ઈચ્છા. દરેક વ્યક્તિને પોતાની ઈચ્છા હોય છે. સામાન્ય રીતે માનવ એના જીવનની સંધ્યાએ હોય ત્યારે એ પોતાનું વિલ બનાવે છે. એટલે કે પોતાની ઈચ્છા રજુ કરતો એક દસ્તાવેજ તૈયાર કરે છે. આમ તો વ્યક્તિએ પોતાની ઈચ્છા પ્રગટ કરવાં કોઈ કાયદાકીય શબ્દો કે જોગવાયની જરૂર પડતી નથી. વ્યક્તિ પોતાની ઈચ્છા પોતાના શબ્દોમાં, સમજાય એવી…