In a landmark ruling, the Supreme Court of India reaffirmed that homebuyers cannot be compelled to take possession of a flat after an unreasonable delay in Housing Project and reduced an excessive interest award in a housing dispute. The ruling in The Chief Officer, Nagpur Housing and Area Development Board (A Mhada Unit) & Others…
BENAMI PROPERTY-ALL YOU NEED TO KNOW Benami in Hindi means without a name. Webster’s dictionary defines the term, “Benami” as: made, held, done, or transacted in the name of (another person). Thus, a Benami Transaction, in common parlance, refers to a transaction in which a property is transferred in the name of a person, whereas…
Interest Free Maintenance Charges and the Law Interest Free Maintenance Charges (IFMC) are the charges or fees which a home buyer pays to the Contractor or builder. The Contractor or builder reserves it in a separate account until the association of the…