Important legal documents that home buyers should be aware of before buying a property

6 October 2017

Buying real estate property can be an expensive affair and it is next to impossible to buy a house without financial assistance. It is therefore necessary to take precautions and ensure that the hard earned money invested into such property is not only safe but secured to the fullest extent. This highlights the need for a proper due diligence. Also, a purchaser needs to be aware of the following the basic legal documents before purchasing an immovable property:

1) Original Title Documents

The title documents means the flow of title devolution from one owner to another and culminating with the current owner/ seller who is selling the property. In case the original title documents are not with the seller, then there are chances that the title documents are deposited with the banks/ financial institution for the purpose of creation of mortgage and the same also needs to be verified by the purchaser.

2) Search Report

The title search report is usually issued by the search clerk after conducting searches in the offices of the concerned sub-registrar of assurances, to verify the entries on record in relation to the subject property, and by virtue of that, one can trace of the flow/ devolution of title as mentioned aforesaid. Additionally, the search clerk also reports, as to whether there is any Lis Pendens (pending litigation) notice registered with the office of concerned sub-registrar of assurances.

3) Title Certificate

Title Certificate is issued by an Advocate based on the Title Search Report and the title documents verified by the Advocate in respect of the subject property. The Advocate should ideally also search in the concerned Courts as to whether any litigation is pending in relation to the subject property. Such a certificate should also cover the claims, if any received, in response to the public notice issued in the local newspapers, to be published, one in English and other in the Regional language.

4) No Due Certificate

No Due Certificate is issued by banks/ financial institution after repayment of the loan and clearance of charge/ mortgage by the banks/ financial institution, so as to rule out any claims by the Banks and to assure that the subject property is free from encumbrance.

5) Sanctioned Layout Plans

It means the layout plans of the structure, which has been duly sanctioned/ approved by the concerned competent authority including the municipal corporation. In case the subject structure is not in terms of the sanctioned layout plans, then it is not advisable to purchase such property, since it is a clear indication of violation of the sanctioned layout plans and applicable laws.

6) Occupation Certificate

The occupation certificate is issued by the corporation, certifying that the subject property/ structures constructed upto relevant floors of the building, can be occupied by the purchaser. This indicates that the developer/ erstwhile owner/ seller has constructed the structure in terms of the sanctioned layout plans and has also complied with various other building norms and obligations.

7) Bills and Receipts

Latest Property Tax bills, Electricity bills, maintenance bills together with the paid receipts should be verified, since the same clarifies about the arrears, if any, in relation to the subject property.

8) For Purchase of Land

In case of purchase of land, in addition to some of the above mentioned documents, one must also verify (i) 7/12 Extracts: This document indicates the name of the owner, name of the person having other rights such as, lessee/ mortgagee, the area admeasurements and cultivation in the land, and/ or (ii) Mutation Entries: This document records entries regarding devolution of title in relation to the subject property.

Source: housing.com

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Piramal Finance to Invest Rs 280 crores, in Puranik’s Project in Thane

6th Oct 2017

Piramal Enterprises, through its subsidiary Piramal Finance (PFL), will invest Rs 280 crores in Puranik’s flagship project ‘Puranik City Reserva’, in Thane. “We hope that this will be a long and rich relationship with the Puranik Group, which has a demonstrated track record of execution in the Thane micro market. We look forward to enabling the growth of the Group, with our offerings across both, the wholesale and retail business,” Piramal Finance managing director, Khushru Jijina said.

PFL, through its entire suite of products, is following a financial partnership model, by extending holistic solutions to developers, right from early stage equity to late stage debt, construction finance, lease rental discounting, as well as bulk buying apartments. Commenting on the deal, Puranik Group’s managing director Shailesh Puranik said, “This transaction will help us to achieve a complete financial closure for the project. We firmly believe that the market today presents attractive opportunities and we look forward to relying on the Piramal platform’s experience and expertise as a lender of choice, as we chart out our own path towards further growth.”

Puranik City Reserva, a theme-based ongoing project at Ghodbunder Road, being developed on 13 acres of land, with 2.2 million sq ft development potential worth Rs 2,000 crores and is expected to be completed over the next 6-7 years. The realty player has so far developed over five million sq ft of real estate and is currently developing around 15 million sq ft in Thane, Pune, Lonavala, Karjat and Mumbai’s suburbs.

Source : housing.com

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TMC to redraw DP for cluster redevelopment zones

5th Oct 2017

The Thane Municipal Corporation (TMC) is likely to start designing micro development plans (DP) soon for each of the eight cluster stretches identified in the city for implementing the redevelopment project to ensure a planned zone with all amenities.

According to the plan, the DP will have to be designed for each of the zones that will see a planned development post implementation of the cluster project that will factor in increased floor space index and allocation of amenities. The existing DP that was finalized in 2003 was not designed keeping in mind the cluster project and accordingly, before implementation of the redevelopment in any of the areas, the planners would require a fresh DP to be redrawn keeping in mind the planned infrastructure in specific areas and adjoining stretches.

The TMC is presently in the final stages of appointing a panel of experts to help them formulate an urban renewal policy that is a mandatory aspect for implementation of the cluster implementation. The micro DP is part of the policy and the team will be entrusted with redrawing it, explained an official.

Currently, the TMC has floated bids for hiring the panel of experts, who could be a mix of town planners and architects, who would take up planning each of the selected cluster zones.

The TMC has proposed eight clusters within the city limits, including those at Rabodi, Mumbra, Kalwa, Kisan Nagar and Lokmany Nagar among others. The cluster plan has been formulated to ensure the menace of illegal structures that occupies a notable volume of land in the city paves way for planned development. It is believed that over 11 lakh sqm area in the city is occupied by illegal constructions, most of which includes government land.

Officials explained the fresh DP would be redrawn as per the urban renewal policy that would mandate the allocation and use of all amenities required. The planning would be easier as the designers will have lots of horizontal space for allocation of amenities and no space would be lost to illegal structures or encroachments as is the present situation.

"The urban renewal policy will be an integral part for implementation of the cluster redevelopment project. We are in the process of selecting and appointing a panel of experts who would help scrutinize the clusters and design a development plan for the same," said a senior civic official.

The final decks for implementation of the cluster redevelopment plan in Thane was cleared in June 2017 after the Bombay High Court vacated its stay after the Mumbai Corporation submitted the impact assessment.

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‘Hawker menace must be tackled, more entry & exit points need of the hour at stations’

5th Oct 2017

The hawker menace on the railway bridges and near the entry and exit points seems to be the pressing issue that has been plaguing the Thane suburban network. This observation was reportedly made by agencies involved in a joint safety audit that was conducted after surveying all suburban railway stations along the route on Tuesday morning, following instructions from railway minister Piyush Goyal last week.

A team of officials from various departments of the Central Railway, along with the railway protection force officials, government railway and city police and municipal authorities, surveyed the four stations within the Thane civic jurisdiction. The teams interacted with commuters and passenger associations and have made a note of their grievances. They also accessed the video footage of certain stations to know the crowd situation on foot overbridges (FoB), especially during during peak hours.

      

Hawker menace on bridges was the main problem, along with the need to construct more and wider bridges at stations like Diva and Thane. During the audit it was also found that more entry and exit points also need to be there. Several other issues like maintaining culverts and traffic management along the railway station premises was also discussed in the preliminary meeting.

''We have conducted a joint survey for the safety audit with senior officials from all agencies concerned in the development of the railway station premises and surrounding areas. We have made a note of the issues. The major one being the hawkers menace at all the stations,'' said one of the officials from the committee.

The report of the safety audit will be prepared by the Central Railway and will be table within the next few days.

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Maniac about your Mobile?

October 2017

Do you panic or get irritated when your phone’s battery is dying or you’re having network issues?

Well, chances are that you are suffering from smartphone separation anxiety. A big drawback of this is that most of us are either unaware that we have it, or worse, are unwilling to accept it.

What research says

Researchers have deemed that smartphone separation anxiety is set to become an increasingly widespread problem. Also known as nomophobia, the term describes the feeling of panic or stress some folks experience when they’re unable to access or use their mobile phone. But according to new research, it has little to do with being unable to make or receive phone calls.Scientists from the City University of Hong Kong and the Sungkyunkwan University in Seoul, South Korea, say the reason is that smartphones are so advanced and personal to us that they’ve actually become an extension of ourselves. Besides storing meaningful photos and messages, mobiles act as a window to a wide range of apps, websites and services that let people quickly access content that’s important to them.

The research said, “As smartphones evoke more personal memories, users extend more of their identity onto their smartphones,” adding, “When users perceive smartphones as their extended selves, they are more likely to become attached to the devices, which, in turn, leads to nomophobia by heightening the phone proximity-seeking tendency.” Though the scientists used a small sample group of 300 students in South Korea for their study, and admitted that it might not be wholly representative of all smartphone users, they believe smartphone separation anxiety will become a much bigger issue for people in the future, as technology becomes even more personalised and our dependency increases on it. The researchers added, “Recent smartphone and app development seems to inevitably increase users’ attachment, as the technology and related services become increasingly personalised and customisable.”

Expert speak

Do our experts agree with the study? “Have you met anyone who doesn’t have a smartphone?” asks Mansi Hasan, clinical psychologist and psychotherapist, tobacco treatment specialist, adding that smartphones have become one of the biggest addictions of our generation. She agrees with the study and that smartphones are not just phones but an extension of the owner’s identity.

Young and old addicted to smartphones.“People are reluctant to admit that they are addicted to their smartphones and usually these problems are not the primary concerns they come in with for help. The most common ages that people are usually brought in by their parents is 10-year-olds to young adults,” informs psychiatrist and psychotherapist, Dr Anjali Chhabria, adding that there have been a few cases of people aged 45 and above also are addicted to their smartphones.

One in four people Hasan meets

displays a smartphone dependence, which may or may not result in smartphone separation anxiety. So, the dependence numbers are high. But, one in 20 people definitely shows trends of smartphone separation anxiety, varying from mild to severe. “The most common age group that is affected is teenagers followed by the age group of 22-35 and then those between the ages of 40-55 years. People above the age of 45 also show addiction symptoms because smartphones have become the best source of distraction from stress, and the easiest way to connect with others,” she says.

Causes of Smartphone Addiction

Smartphones have become so important that we are unable to function without them. Our contacts, mails, communication, entertainment, socialising, sharing, getting information, work, personal life, social life is all dependent on one gadget. Of course, one may panic if one fine day this gadget crashes as if our entire life depends on it! The cause of anxiety is the high dependence and addiction it causes, explains Hasan.

Coping with it

Dr Chhabria says that it’s essential to understand that the smartphone is just another gadget used by us when needed. Phones are replacing real-time conversations, thus, wherever one finds that using phones can be avoided, do so. Keeping yourself busy with activities that don’t require the phone also helps in realising that life without the phone is possible.

Symptoms that your are ADDICTED to your Smartphone!

• Fear and anxiety of losing the phone
• Checking and rechecking the phone
• Feelings of panic (heart racing, sweating, palpitation) when the phone is inaccessible
• Carrying extra chargers, power banks to ensure the phone is charged at all times. Even carrying multiple phones
• Irritability and anger in the absence of the phone, even if it may be for a short interval
• Excessive use of the phone, which leads to reduced efficiency, relationship conflicts and cognitive malfunctioning

Source: DNA

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The festive weekend isn't over yet! Make the most of it with these apps

4th Oct 2017

Image Source: freepik.com

Weekends beyond the usual two days are always an icing on the cake. With the added festive fervour, many platforms providing over-the-top content (OTT) are announcing customised content to keep its viewer-base engaged.

In the current digital era, one has a number of apps to bond over with their family and friends. Originals, films and educating epic videos have taken over the catalogue to entertain video lovers. Among those which have witnessed rapid growth in user base are as follows:

Hotstar

This festive season, Hotstar is offering Ramayana movie for its viewers. The Epic is an animated movie retelling of the mythological story of Lord Rama and his battle with Ravan. Lord Rama, the good king of Ayodhya, must get his wife, Queen Sita, back from the clutches of the wily and strong demon-king, Ravan. He does so with the help of his brother, Prince Lakshman, and faithful devotee, Hanuman. The video is in high quality graphics.

Voot

Voot viewers can watch some festival centric video series like Navshakti Navratri and Mahayoddha Rama. The entire story of Ramayana in a film with its own unique way of storytelling will engage viewers in the epic's spellbound aura.

YuppTV

YuppTV is offering a dussehra special catalogue of offering around the significance of the festival. Youth can simply log on and enjoy the stories of good winning over evil. In today's world, one doesn't really get time to sit and listen to stories from elders. Next gen wants everything on the go. YuppTV is one of the options to cherish those stories with friends and family.

nexGTv

On nexGTv, kids can watch animated stories around Ramayana and understand the epic that is essence of our culture and the festivity in the air. Ramayana has been one series that bonds a lot of people pan India. Now available on an OTT platform, viewers have convenience to watch it anywhere anytime.

OZEE

On OZEE, viewers can enjoy all the episodes of Ramayan- Jeevan ka Aadhar in HD. Years down the line, watching Ramayana on TV with family had become a routine. This festive season, with OTT apps, viewers have opportunity to recreate the golden moments.

Source: http://economictimes.indiatimes.com/magazines/panache/the-festive-weekend-isnt-over-yet-make-the-most-of-it-with-these-apps/articleshow/60907222.cms

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Students of KV’s class I to V to resume school at building in Naval area from today

3rd Oct 2017

After six long weeks of an unscheduled vacation, students of Kendriya Vidyalaya's class I to V will resume their studies at a building in the Naval area of the Air Force Station on Tuesday.

After the school building in Kolshet was declared to be dilapidated by the Military Engineer Services earlier this year, the school authorities had stopped classes for all their students as a preventive measure late August this year. This move caused panic among the 1,400 school students and their parents, as the school had shut the school indefinitely and there was no alternate building to shift the students to.

As the parents of the students came together and pressurised the school to start looking for new premises within the city whilst making some temporary arrangement to ensure their children didn't miss out on their classes, the school authorities resumed classes for students of class X and XII at the Air Force School within the air force station a week later.

Classes for students from class IX and XI also resumed a few days later on September 4 at the Air Force School and an extra room in the school premises respectively, while the schooling of class VI, VII and VIII resumed on September 22 at the Air Force School and the school premises respectively.

"We are doing everything to ensure that the students do not miss out on their classes and remain safe at the same time. We will be resuming all classes by Tuesday in batches in the classes provided to us by the Air Force officials. We have cancelled the coming exams and cut short the vacation to make up for the time lost," said a Kendriya Vidyalaya official.

However, while the classes of all the students will be taken in batches starting Tuesday, their parents are worried about the completion of their curriculum as the students spend hardly three to four hours in school.

"Even though the school has resumed, our children have only three to four hours of school daily. How will they arrange to ensure that the the curriculum will be covered with these hours? Every school should have a minimum of five-and-half hours of classes according to the law. While we are glad that the classes have resumed, we hope the school is looking for some permanent solution as well," said a parent of a class XII student.

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