First published on Mondaq Update: Effective 1st April 2022, Surcharge @1% on Sale, Gift and Usufructuary Mortgage in Brihan Mumbai Municipal Corporation Areas Through the Mumbai Municipal Corporation (Second Amendment) Act, 2018, the Maharashtra Government levied 1% (one percent) surcharge on instruments of sale, gift and usufructuary mortgage in addition to the prevailing stamp duty... Continue Reading →
Interplay of Will, Gift and Relinquishment Deed in the Indian context
Estate and succession planning aids in establishing an orderly process of transferring a person’s wealth and assets. As the catastrophic outbreak of COVID-19 continues to wreck a global havoc, it is imperative for the families to secure their hard- earned wealth and assets through estate planning. A well-defined estate and succession plan can prevent future... Continue Reading →
Covid-19 Update: Delhi High Court Clarifies the Conundrum Surrounding Force Majeure in Rental Agreements
The pandemic caused due to COVID-19 and the lockdown imposed by the Central Government has almost stalled all the businesses courtywide. This has inturn caused a lot of hardships to the business establishments (not being essential service providers), especially in paying salaries to the employees/workers and the rent of the premises. Recently, the Delhi High... Continue Reading →
Maharashtra RERA Rules, 2017
Government of India has enacted the Real Estate (Regulation and Development) Act 2016 ("Act") and all the sections of the Act shall come into force with effect from May 1, 2017. Under this Act, Government of Maharashtra vide notification dated April 20th, 2017 notified the Maharashtra Real Estate (Regulation Development) (Registration of Real Estate Projects,... Continue Reading →
The Real Estate (Regulation and Development) Act, 2016
The real estate sector is widely unorganized, unregulated and was prone to deception. Since a long time, there has been a dire need to regulate the real estate sector and to establish a law to promote an environment of trust and confidence amongst the purchasers in the real estate sector. For any deficiency of services... Continue Reading →
Stamp Duty and its relevance
The basic idea about stamp duty and the obligations imposed under the Indian Stamp Act, 1899 (“Act”) for interstate transactions has been illustrated in our previous blog. The concept of stamp duty was introduced by the Britishers in 1899 and was applicable for all property transactions. Stamp duty was to be deposited in the government... Continue Reading →
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