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What is a Patta? Where is it Obtained?
Patta is a document given the Thasildhar Office which gives the Dimension and extent of Land and the Ownership. This is the most important document to prove the Ownership of a land.
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What is an Encumbrance Certificate? Where is it Obtained?
Encumbrance Certificate (EC) is obtained from the Sub Registration office in the respective areas. The Certificate shows if a property is free from any mortgage, liens etc.
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How soon can you get a Patta?
No Time Limit is given by the Tahsildhar Office.
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How soon can you get an EC?
There is urgent EC and ordinary EC. Urgent EC is given within 24 hours. EC can also be obtained through online through government website http://www.tnreginet.net/
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Where should the Property Tax be paid?
Property Tax should be paid in the Respective area where Corporation of Chennai Office is located, once in six months
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Where should the Water Tax and Sewerage Tax be paid?
Water and Sewerage Tax should be paid at the Metro Water Office in the Respective Areas, once in six months.
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What is expansion of FSI? What does it mean?
FSI means Floor Space Index. It is the total allowable area that can be built on a piece of property.
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What is Plinth Area?
Plinth area is the constructed area inclusive of the space occupied by the walls.
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What is Carpet Area?
Carpet area is the actual usable area which the user gets to use.
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What is Built-up Area?
Built-up area consists of area outside your house, staircase, elevator, etc which can constitute upto 25% of the area. Example if you buy a 1000 sq.ft built-up area, you will actually get to use only 750 sq.ft.
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What is a Sale Agreement?
A written Agreement or contract between Seller and Purchaser in which they agree on the terms and conditions of the Sale.
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What is a Sale Deed?
A written Instrument, which when properly executed and delivered conveys title to a property.
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Who is a LESSOR?
An Owner of property who enters in to a lease with a tenant.
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Who is a LESSEE?
One who contracts to rent property under a Lease contract.
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Why do we need a professional Real Estate Agent?
An Agent is someone who has an in depth knowledge in various segments of Real Estate for eg. He could be an expert in Residential flats / houses either as agent for Selling / Leasing. An Agent can help a client to give the best possible options among the properties that are available in the market. So the client can take an informed decision that meets most of his requirement. A professional agent also gives an unbiased view of the market and also makes the transaction transparent which is very essential in a Real Estate market.
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What is MSB?
Multi-Storied Building.