Property sales through the common practice of general power of attorney (GPA) will not give ownership title to the buyer.

In a landmark judgment that is expected to send a large number of property owners into a tizzy, the Supreme Court held that the GPA method of immovable property sales is not a valid form of transfer of property.

A three-judge bench presided over by Justice R. V. Raveendran said that property can be lawfully transferred only through registered sale deeds.

“A power of attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property,” the bench said, after interpreting various provisions of the law concerning property sales. However, the bench said the judgment will not affect “genuine transactions” under the GPA.

The judgment delivered on Wednesday would have an impact on both freehold and leasehold properties and affect the mode of transfer of property in Delhi and the National Capital Region (NCR) where GPA sales are very common. Even though it can cause some hardship to those who have already purchased property through the GPA, the order will help curb evasion of duties, flow of black money into real estate and also save people from being cheated by unscrupulous owners selling the same property to several people.

Navin Raheja, chairman and managing director of Raheja Developers said, “The court’s decision will help to curb the circulation of black money to some extent in the real estate sector where titles are manipulated. Besides, many property transactions where prices are rounded off will be affected. However, overall there won’t be any significant impact on normal property sales.”

The apex court said there can be no mutation of property in municipal and revenue records on the basis of such documents. The bench, however, clarified that its order should not be a ground for disturbing mutations already effected by the Delhi Development Authority (DDA) or any other authority.

But, there is little relief for thousands of people who hold property without mutation as GPA sales can only be treated as existing sale agreements. An application of the order with prospective effect would have protected their interest. The court, though, stressed that it had merely reiterated the well- settled legal position that such transactions cannot be treated as completed transfers.

The court could not make the order applicable with prospective effect as it had not laid down any new law. However, it said that those who had already bought property through GPA before its judgment could use the documents to apply for regularization of allotments and leases by development authorities.

“Nothing prevents affected parties from getting registered deeds of conveyance to complete their title. The said transactions may also be used to obtain specific performance or to defend possession under section 53A of TP (Transfer of Property) Act,” the court said.

In order to ensure that GPA continues to serve its purpose, the court said its judgment will not affect the validity of sale agreements and powers of attorney executed in genuine transactions. “For example, a person may give a power of attorney to his spouse, son, daughter, brother, sister or a relative to manage his affairs or to execute a deed of conveyance.”

The court further said that a person can enter into a development agreement with a land developer or builder for developing the land either by forming plots or by constructing apartment buildings. In that connection he can execute an agreement of sale and grant a power of attorney that will allow the developer to further sell the property to prospective purchasers.

While hearing a matter on the subject, the court had decided to clarify the law on the issue as such transfers had not only led to evasion of stamp duty and registration charges but had also provided scope for investing black money in real estate. Besides, such transfers were giving nightmares to bona fide purchasers as the same property could be sold to several people in the absence of verification or certification of title. A proper verification of ownership was possible only if all property were transferred through registered sale deeds.

Noting that such transactions were now not just limited to Delhi but had spread to neighbouring areas, the court had sought the views of the Centre and the states of Delhi, Haryana, Punjab and Uttar Pradesh. There was a near unanimity that such transactions should be discouraged as it caused loss of revenue and increased litigation due to defective titles.

Going into the legality of such transfers, the court said any contract of sale which was not a registered sale deed would fall short of the requirements of the relevant provisions of the Transfer of Property Act and could not confer any title.

The court said a transfer of property by way of sale could only be by a sale deed. “In the absence of a deed of conveyance (duly stamped and registered as required by law), no right, title or interest in an immovable property can be transferred,” the bench said.

Read more at: http://indiatoday.intoday.in/story/property-sale-through-gpa-not-valid/1/154711.html

The Authorize members of society move to court alleging that there are so many ineligible members in the voter list of the society which was prepared by the concern registrar office. The only fear of Saraswati Kunj Society members is that the unauthorized voting rights of the ineligible members would pave way for property consultants, realtors or land mafia’s to take over the society.  The Saraswati Kunj society owns over 200 acres land worth several hundreds crores in Gurgaon, and is presently managed by government-appointed administrators.

After the petition filed by the society members regarding the voting list the court directed to Returning Officer (RO) to prepare a fresh voter list to start of the election process.

The court is informed by the society members through a petition that there are only 2678 Members have cleared their dues on time and rest 5000 members were not cleared their dues yet (Figure Given by the Society members)

The court holds the election to a later time after observing that a defaulter member cannot be allowed to participate in the election process. The next date of election will be announced after the voter list is revised. We welcome the court judgment. The candidates who are contesting the election will get fair chances of their win, said a society member.

Current Situation:

Land Availability

•  Total Land – 656.50 Acre
•  Licence Received Under Phase I – 116 Acre
• Licence Received Under Phase II – 100 Acre
• Land for which Licence applied – 59 Acre (Licence applied for 192 Acre, in which licence recd. for 100 Acre, for 33 Acre stay granted by High Court. Remaining 59 Acre is pending for Licence).
• Land under Acquisition in Sec-43 – 33 Acre
• Land under Acquisition in Sec-57 – 55 Acre (Writ no. 13129/2001 & 7880/2002. Stay granted by the Court).
• Land under Acquisition – 124 Acre
• Land purchased on 07-07-2004 in Behrampur Village – 72 Acre
• Land purchased through GPA – 97.50 Acre
• Land under Agreement – 70 Acre

Funds Availability

• Rs. 125 Crores (approx)

A New date of hearing was given by the honorable court on 22Nov. Date for next hearing is 21st Feb 2012. Election is expected to be held in the month of March 2012 or April 2012.

For Latest Update on Saraswatikunj Society Gurgaon, please fill in the FORM below.

He said that these rates had been made applicable retrospectively for the calendar year 2009 which would further be made applicable upto the calendar year 2012 by increasing the same at the rate of 10 per cent every year on compoundable basis. On the similar pattern, the EDC might be made applicable from July 11,2006 when the new development plan of Gurgaon-Manesar Urban Complex-2021 would be notified, by reducing the same at the rate of 10 per cent per annum on the compoundable basis.The reduced EDC would be passed to the plot holders, he added.

He said that in respect of old licenses where the schedule of payment has not exhausted, the EDC would be recovered in ten six monthly installments instead of eight  six monthly installments in the case of plotted areas or Group Housing Areas. In respect of recovery of EDC from commercial areas where schedule of payment has not been exhausted, the period of recovery would be extended from the present eight quarterly installments to 12 quarterly installments.

In such cases, the entire schedule of payment would have to be reworked as if they were to be paid in ten six monthly installments right from the beginning instead of eight six monthly installments.However, if any, excess amount was found to be paid because of the above re-scheduling, it might be counted for in the next due installments. In case any excess amount was found after exhausting all the dues, in that case the excess amount might be refunded, he added. He said that as far as the old licenses were concerned that is licenses granted before January 10,2009, the cut off date might be taken as January 10,2009 for rescheduling the installments and charging of interest thereon on the deferred or delayed payment of installment. In respect of licenses issued after January 10,2009, the recovery of EDC would be done either in lump-sum within 30 days from the date of grant of license of within five years in six monthly installments of 10 per cent each. First installment would be payable within a period of 30 days from the grant of license. Similarly in the case of commercial licenses and IT licenses issued after  January 10,2009, the recovery of EDC would be done either in lump-sum within 30 days from the date of issue of licenses or in 12 quarterly installments.

The spokesman said that in respect of licenses issued after January 10,2009 the balance amount of EDC would carry an interest at a rate of 12 per cent  per annum and in case of any delay in the payment of installment on the due date an additional penal interest at a rate of three per cent per annum (making the total payable interest as 15 per cent per annum) would be chargeable upto the period of three months and for additional three months with the permission of DGTCP.  In case the payment was not made within extended period, action might be taken to cancel the license due to non payment of EDC. He said that in case the authority executing external development
works completed the same before the due date and consequently required the charges for the same, the Director General, Town and Country Planning, Haryana, Chandigarh would be empowered to call upon the colonizer to pay the external development charges before the completion of the due period and the colonizer would be bound to do so. Any award/ enhanced compensation over and above the land cost taken in the EDC estimates would be payable extra as decided by the  authority from time to time. The spokesman pointed out that the colonizers would arrange the electric connection from outside source for electrification of their colonies, from UHBVN/DHBVN and make payment, if any, direct to UHBVN/DHBVN.  If they failed to provide electric connection from UHBVN/DHBVN, the Director General, Town and Country Planning would recover the cost from the colonizers and deposit with UHBVN/DHBVN. In case the colonizers asked for a completion certificate before the payment of EDC, they would have to first deposit the entire External Development Charges and only thereafter, the grant of completion certificate would be considered.

No External Development Charges would be recovered from the EWS/LIG categories of allottees, he added.

For any type of real-estate assistance in Gurgaon Contact @ +919911211525 or mail at neeraj@propertyhelp.in

Source : INVC

• Circle Rate of DLF Phase 1, 4 & 5 is 60,000 per Sqyrd
• Circle Rate of DLF Phase 2 & 3 is 55,000 per Sqyrd
• Circle Rate of Sushant Lok Phase 1 is 55,000 per Sqyrd
• Circle Rate of Palam Vihar is 30,000 per Sqyrd
• Circle Rate of Sishant Lok Phase 2 & 3 is 40,000 per Sqyrd
• Circle Rate of South City Phase 1 is 60,000 per Sqyrd
• Circle Rate of South City Phase 2  is 50,000 per Sqyrd
• Circle Rate of Malibu town is 40,000 per Sqyrd
• Circle Rate of Uppal Sothend is 40,000 per Sqyrd
• Circle Rate of Mayfield Garden is 40,000 per Sqyrd
• Circle Rate of Ardee City is 40,000 per Sqyrd
• Circle Rate of GreenWood City is 50,000 per Sqyrd
• Circle Rate of DLF Phase Rosewood City is 50,000 per Sqyrd
• Circle Rate of Nirvana Country is 60,000 per Sqyrd
• Circle Rate of Saraswati Kunj is 25,000 per Sqyrd
• Circle Rate of Sector-54 is 50,000 per Sqyrd
• Circle Rate of Sector 27, 28, 42 & 43 City is 40,000 per Sqyrd

• Please click here to know the Circle rates of other areas in Gurgaon ( Official Link ).

• Click here to see the copy from Collector’s office regarding the Circle rates of Gurgaon.

Stamp Duty rate

• 5 % of the circle rate, if Registration has to be done on the name of a Female.

• 6 % of the circle rate, if Registration has to be done on the Joint Name of a Female & a Male.

• 7% of the circle rate, if Registration has to be done on the name of a Male.

These rates are applicable as on date i.e 15th June 2011 & for the current rates you can contact @ +919911211525

For any kind of Real-estate consultancy, you can contact

Neeraj Yadav @ +919911211525

For sec 51 General category’s allotee has to pay Rs 3,330.80/- per Sq yard and EWS (Economical Weaker Section) allotee has to pay Rs 498.03 per Sq Yard in addition to the rate at which plot has been allotted to them (Which was Rs 3,344/- per Sq Yard for General Catagory and For EWS it was Rs 500/- per Sq Yrd) .

For sec 52 General category has to pay Rs 2,395.39/- per sq yard and on EWS (Economical Weaker Section) allottee  Rs 358.16/- in addition to the rate at which plot has been allotted to them (Which was  also Rs 3,344/- per Sq Yard for General Catagory and For EWS it was Rs 500/- per Sq Yrd)

Orders have been issued from Chief Administrator (HUDA) to collect the money from the plot allottee. Notice for the same will be issued in one week.

If you are looking for Best Deals in Gurgaon, then please feel free to contact at +919911211525

Source: NBT

Vatika Group started as a real estate development company and is today a multi-tiered organization with real estate, hospitality development & facilities management. Over the years, Vatika group has built an impressive portfolio of projects that span corporate & residential complexes, resorts, five star hotels, restaurants, business centers and fitness outfits.

The group is executing projects worth over Rs. 7900 Crores to bring about positive change in the work, home and leisure life of millions. The Vatika group boasts projects like First India Place, Vatika Triangle, Vatika Towers, Vatika Technology Park and many others.

About the Project

Vatika City Homes residences are designed for optimum space utilization. The mid and low-rise choices offer a variety of apartments within the prestigious Vatika India Next, strategically located on the National Highway 8 (NH-8), Gurgaon.

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For Specifications See the Video Below

[http://www.youtube.com/watch?v=F2xZVQEr0MI]

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[http://www.youtube.com/watch?v=EeHkDWA0lIY]

Floor Plans

• Typical Plan 2BHK SP
• Typical Plan 2BHK
• Typical Plan 3BHK
• Type A Ground Floor
• Type B Ground Floor
• Type C Ground Floor
• Type D Ground Floor
• Type A&D Typical Floor
• Rendered Site Plan
• Location Plan Of Vatika City Homes

Location

Gurgaon 21, is located within the prestigious Vatika Next Township at Sectors 82 & 83 on N.H-8, Gurgaon. Details as follows

• On Main NH-8 in Sector 82, 83 of Gurgaon
• Only 5 km from Honda Chauk, Gurgaon
• Near Upcoming 25,000 Acre Multi Product Special Economic Zone by Reliance Group
• 20 minutes driving distance from the IGI Airport
• 1 K.M. from proposed ISBT& Metro Depot Gurgaon
• Walking distance from Metro Station
• 10 Min. drive from IFFCO chowk
• 5 Metro stations with in the radius of 3 K.M
• 40 Min. Drive from Cannaught Palace, New Delhi
• Closer to upcoming five star hotels at NH-8
• All basic facilities like hospital and school are closed by
• Close to Malls, SEZ, and IT parks
• Walking distance from commercial belt 200m wide on NH-8

For best deals in vatika city homes, Gurgaon or for any further query contact at  ” neeraj@propertyhelp.in ”

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Source : http://www.vatikagroup.com/overview.aspx?hid=1&pid=11

“If the present and prevalent market rent assessed and fixed between the parties is paid by the tenant, then the landlord shall not be entitled to bring any action for his eviction against such a tenant at least for a period of five years. Thus, for five years, the tenant shall enjoy immunity from being evicted from the premises,” the court said.

The court realized that in most landlord-tenant disputes, there were no written contracts and the tenants took advantage of the situation given the slow process of rent control laws and the judicial process for eviction.Flooding of courts by tenancy disputes arising due to absence of agreements forced a Bench of Justices Dalveer Bhandari and Deepak Verma to lay down guidelines saying adherence to it could considerably bring down litigation. This judgment would not affect the tenancy governed by existing lease deeds or specific contracts between the landlord and tenant. Tenant must hike rent by 10% every 3 years, rules apex court

In an effort to bring down tenancy disputes, the Supreme Court has said that the landlord cannot evict the tenant for atleast five years if he pays the rent regularly according to a model landlord-tenant agreement.The SC found tenants enjoying the property by paying rent at a rate determined 20-25 years back and said half of the landlord-tenant disputes would not have reached the courts if the tenants agreed to pay rent at market rate. Writing from personal and judicial experience, the court said: “We deem it our duty and obligation to fix some guidelines and norms for such type of litigation, so as to minimize the landlord-tenant litigation at all levels.”

It said: “The tenant must enhance the rent according to the terms of the agreement or at least by 10% after every three years. If the rent is too low in comparison to the market rent having been fixed almost 20 to 25 years back, then the present market rate should be worked out.” It should be determined either on the basis of valuation report or reliable estimates of building rentals in surrounding areas let out recently, said Justice Bhandari, who authored the judgment for the Bench. “The rent should be just and adequate and be fixed keeping in mind the location of the property, type of construction and accessibility to the main road.Care should be taken that it does not end up being a bonanza for the landlord,” it said.

“Apart from the rentals, property tax, water tax, maintenance charges, electricity charges for the actual consumption of the tenanted premises and for common area shall be payable by the tenant only so that the landlord gets the actual rent out of which nothing should be deductible,” he said.

“In case there is enhancement in property tax, water tax or maintenance charges, electricity charges then the same shall also be borne by the tenant only,” the bench said. Minor repairs of the premises would be carried out by the tenant from his own pocket and he could not undertake any major repairs, requiring reimbursement, without prior permission from the landlord, the Bench said. “If any major repairs are carried out, only after obtaining permission from the landlord, the same shall be carried out and modalities with regard to adjustment of the amount spent thereon, would have to be worked out between the parties,” the court said. ( 16th May, 2011 )

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• Tenant Will Now Be Exempted From Being Evicted For 5 Years: SC

May 15 2011, Hindustan Times

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Hunoos Dilli door ast (It is still a long way to Delhi)! Those who did not find their names in the recent DDA draw might be feeling a little low as they may not be able to purchase a house in the capital with no DDA scheme in the near future. Experts, though, say that there is no point in cursing fate — they aver that it is time to think beyond the capital.
While the NCR cities close to Delhi are still no match for the national capital, fact is that if serious end users continue to wait for long to find a house in Delhi, they may even miss the housing options in the NCR, altogether.
“I think there are several options available in the NCR, since Delhi does not have many projects on offer. Everybody has been eagerly awaiting the DDA draw, and hoping for another draw is a farfetched option; genuine buyers must start looking for alternatives. Areas like Ghaziabad will see an upsurge in the number of buyers due to their close proximity to Delhi and better infrastructure facilities. In Ghaziabad, demand will further increase, especially in areas like Indirapuram, Mohan Nagar, and with the Metro reaching places like Vaishali, Vasundhara and Raj Nagar Extension, this will be a golden opportunity for genuine buyers to invest,” says Vijay Jindal, CMD of SVP Group.
Realty experts say that all those who have not booked a DDA flat must think of the NCR now. The overall development is pushing prices there too, but one can still get plenty of affordable real estate opportunities in places like Ghaziabad, Faridabad, Noida, Greater Noida, Raj Nagar Extension and Gurgaon. Gurgaon and Noida are already going out of the reach of salaried class. However, other key NCR towns seem to be good options for all those who could not find their names in the list of lucky winners of the DDA draw.
Admittedly, the rates in both Noida and Gurgaon are hitting the roof and it is advisable to book a flat wherever your budget permits before all these places also register unaffordable prices for the middlesegment pockets.
A spokesman of the Raheja Group says that for the unlucky ones in the DDA scheme, there are ample options in the NCR in developing locations, which are still not over-priced. They can weigh opportunities in Ghaziabad, Faridabad, Noida as well as Gurgaon. Experts say that many prospective buyers were waiting for the DDA housing scheme’s draw to get over before they make a d e c i s i o n about buying a house.
Devinder Gupta of Century 21 realty consultancy predicts a flurry of activity in the real estate market of the NCR in the weeks and months ahead. This will give a boost to real estate market as many of the more than seven-lakh applicants would now look for a dream home. “I am sure serious buyers would seal a deal in the NCR rather than wait any more,” says Gupta.
Realtors say that Noida, Ghaziabad, Faridabad and Greater Noida will see some big launches in the next few months and these areas will benefit from the increased demand. In a couple of months, as the summer vacation for schools begin, many people will start their house hunting mission with gusto.
Saed Ansari, an anchor for News 24, says that when he shifted to Delhi after working in Star News in Mumbai a couple of years ago, he booked a flat in Noida without wasting any time. “I thought that was my most sane decision. I am very happy in Noida and who knows, I may buy another one in Noida or Greater Noida,” Ansari says.
“Of the 7.4 lakh people who couldn’t get a flat, at least 3.5 lakh are serious buyers and still need flats. This demand will result in a boom,” says Alimuddin Rafi Ahmed, the CMD of ILD Group. He believes the entire NCR would be a beneficiary.
Arun Mohan, advocate and author of “Affordable Housing”, says that despite some shortcomings in terms of infrastructure, the NCR towns are coming up very well.
“It is advisable that all those who do not have a generous budget book their flats in the NCR. Who would have thought that ten years ago, places like Noida and Gurgaon will grow so much. All those who have invested in these places are reaping the benefits.”

QUICK BITES
IT IS ADVISABLE THAT ALL THOSE WHO DO NOT HAVE A GENEROUS BUDGET BOOK THEIR FLATS IN THE NCR. WHO WOULD HAVE THOUGHT THAT TEN YEARS AGO, PLACES LIKE NOIDA AND GURGAON WILL GROW SO MUCH. ALL THOSE WHO HAVE INVESTED IN THESE PLACES ARE REAPING THE BENEFITS

Survey of Realtor begins in Gurgaon

Gurgaon: The district administration has started a survey to identify property dealers operating without licence. The move was taken after fraud charges were received against a number of dealers.
Said Rajendra Kataria, deputy commissioner, ‘‘We often receive complaints that a person interested in buying property or plot was duped of cash by some property dealer who made the buyer enter into a fake deal of a plot which never existed and afterwards fled with the money. ‘‘To keep a watch on the property dealers and get them enrolled with government authority, the state government has formulated rules according to which the person engaged in property dealing business should apply to the District Collector in Form A for obtaining a licence,’’ he added.
Officials said the individuals will to pay a fee of Rs 25,000 while the organization, company or society will pay a fee of Rs 50,000 for obtaining property dealer’s licence. The licence would be valid for a period of 5 years after which it can be renewed. For individuals, the fee is Rs 5,000 while for the organization, company or society, it is Rs 10,000.
The licence holder will get only one percent commission on the agreed value paid by the seller and purchaser of the property that is half percent by each of them on finalization of the deal. ‘‘In case of deal of lease or rent of immovable property, rate of commission will be paid by the lessor and lessee at the rate of one month rent of the property to the licence holder,’’ said Kataria.

Source : TOI Dated 24th Dec,09.

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