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adProperty News For March 2009

Garage sale
Source : The Hindu Property Plus Published On : 2009-03-14 City : Hyderabad

Jumble sale

Garage / Jumble sale for one day only, by Defense Officers of Sainikpuri and Vayupuri, of sparingly and caringly used / unused electrical, electronic items, artefacts, clothes, utensils etc., at M.K. Rao Memorial Hall, near Sainikpuri X Roads, on March 15, from 9 00 a.m. to 5 00 p.m. Contact AFOCHS Officers Club, Ph.27111187 or 9246162456.

Cycle ...

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Tip for tenants
Source : The Hindu Property Plus Published On : 2009-03-14 City : Hyderabad

If you are a tenant and have made the mistake of not having entered into a written agreement with the house owner, most probably one day you will hear a loud shout asking you to vacate the house within ten days. The clashes between owners and tenants are becoming more and more common these days.

The first thing a tenant tries to do is to please the owner

If it does not work and if he might encounter a loss on leaving that place he might consult a lawyer and the court cases keep pending. Meanwhile the hostility between you and the house owner increase worsening possible good relations.

Instead of tolerating all this, it is better that you arrive at some written agreement that he will neither increase the house rent nor will ask you to leave the house for a specified period of time. All this is essentially important to you and everyone else. ...

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Floating rate is the better option
Source : The Hindu Property Plus Published On : 2009-03-28 City : Chennai

Existing home loan borrowers sitting on large loan books can shop around more aggressively and look for a lender who is willing to offer a cheaper rate. As everyone is aware, State Bank has already announced a home loan with an interest rate of 8 per cent for the first year.

You can expect more banks to come up with similar product strategies, which could involve a combination of floating and fixed.

At current levels, floating rate is a better option to be in and it is not a bad idea to shift your loan book to floating from fixed if your existing rate is far higher than current rate. ...

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Time limit to determine market value
Source : The Hindu Property Plus Published On : 2009-03-28 City : Chennai

Is there a time limit within which the Collector of Stamps is expected to ascertain the market value of the property and complete the procedure of registration? In the case involving IG of Registration and M.Gandhimathi and others, the Courts have observed that the authorities concerned (in this case the Department of Registration) has to dispose the case of within a reasonable time frame and cannot delay it perpetually ((2008) 3 MLJ 1333).

In 1993, a pursuant to litigation, the High Court passed an order-permitting sale of properties, which were in the possession of a cultivating tenant and deposit the sale proceeds with the Court. The offers received were placed before the court and in 2003; the offer that fetched Rs. 18 lakh was accepted. The respondents M.Gandhimathi and others were nominated and when the documents were presented for registration, the Sub Registrar, Srirangam required documents such as Patta Pass Book and Court Order.

They were produced only in 2004. The Sub Registrar retained the document for many months and only in 2006 they were referred to the Deputy Collector (Stamps) for determination of market. In the meantime a writ petition was filed in the High Court. ...

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How to identify patta number?
Source : The Hindu Property Plus Published On : 2009-03-28 City : Chennai

I am having two lands 1. 431/2 with patta no: 371 and for another 149/2 but I do not know the patta number. How to find it?


Our panelist, Mr. R.L.Narayanan replies: It is not clear whether you have Patta without Patta number or that you do not have Patta itself for the Survey Number mentioned by you.

If you have a Patta without Patta number, this is an omission and this can be included by the Tahsildar by reference to revenue records. You can also check whether you have got Chitta and Adangal in which documents, the Patta number will also be mentioned. ...

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