first time investors in delhi must read this
TRANSCRIPT
First Time Investors in Delhi Must Read This…
After getting the possession of your dream house, it is mandatory to get it registered with the government under your name. It is the legal evidence of ownership in the local municipal records with the seller stating that the property now belongs to you. What, how and when are the normal queries dug inside the mind of every first time investor.
Here are few answers that you must know to be in trend with the ongoing real estate roller coaster ride scenario. You should read it because, first, it will help you reflect thoughtfully on your decision for buying/selling in Delhi and secondly, it will enhance your knowledge quotient if you are getting involved in real estate for the first time.
The following terms require your attention if you have recently got possession of a property in Delhi:
Stamp Duty
You must first know that to register your new property you have to pay to the government a certain amount in the form of stamp duty which will be your legal tax payable in full. This amount varies from state-to-state and also upon the type of property, whether it is old or new. It is a formality required by any person indulging in buying a property. The government of NCT of Delhi describes this amount to be 4% if the vendee is a woman and 6% if the vendee is a man. Since this amount adds up to the cost of your property, it is better to have a fair idea before you finalize your deal.
Circle Rates
What is the Current Scenario of Buying and Selling in Delhi?
Possible Solution?
Possible solution to the prevailing problem might be that like the government of Haryana not hiking the circle rates this time, the government of Delhi might also follow the same suit. The impact on the property prices will be high of the government decides to hike the circle rate at this point of time.
This will also impact the NCR market giving a competitive price to the buyers.
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