We use a variety of methods to determine the value of a home. A comparative market analysis is the most common method for determining the value of a home. A comparative market analysis is a detailed examination of recently sold “comparable” homes in the previous 6-12 months. A comparative market analysis, or “CMA,” isn’t a crystal ball that predicts how much a home will sell for; however, when performed by top Realtors, it should significantly narrow the sale price range.

The buyer needs to pay the following taxes: TDS or tax deduction at source on amount exceeding Rs 50 lakhs for the purchase of property excluding agricultural land. Stamp duty Service Tax – Applicable if the property is being purchased from the builder who conceived and constructed the project before offering possession to the buyer. If a `ready to move in’ property is purchased from the seller, service tax is not applicable. Value Added Tax (VAT) – If applicable in the concerned state.

The language of the registration document must be the one that is commonly used in your district. According to Section 19 of the Indian Registration Act, the Registering Officer or the registrar has the power to decline registration of your document if it is presented in a language which is not commonly used in the district unless it is accompanied with a true translation of the language in use.

It refers to the registering of documents relating to transfer, sale, lease or any other form of disposal of an immovable property. Registration is compulsory by law for all properties under Section 17 of Indian Registrations Act, 1908. Once a property is registered lawfully, it means that the person in whose favor the property is registered, is the lawful owner of the premises and is fully responsible for it in all respects.