Shakeno Dontaye Collins provides customer-centric services to all those people who wish to buy the property but are unable to make the right choice. He focuses on value-addition to realty decisions by offering the most extensive, well-research, and transparent property deals that help people invest wisely and lucratively.
Matthew Telesca realize that entrepreneurship has been there for so many years and that there are many people who cannot define correctly who an entrepreneur is.
This is because there is a disagreement of whether entrepreneurs are born or made.
By the way, are entrepreneurs born or made?
I'm afraid if we start this discussion we might not come to a conclusion.Why is it that there is no universal agreement whether entrepreneurs are born or made?
First, entrepreneurs are born because there are some people who have come up with new business ideas that are currently recognized as successful businesses but these people were never educated on how to become entrepreneurs.
On the other hand entrepreneurs are made because there are some successful entrepreneurs who have studied entrepreneurship courses.
Looking to start an online business but unsure where to start?
Ahmed Bakran will guide you step by step to start an online business.
Stamp duty is generally calculated as a percentage of the higher among the circle rate and the agreement value of the concerned property.
The rate differs from state to state and depends on the following the factors:Status of the property: whether it is old or newLocation of the property: whether it is situated in a metro, a town, a rural area, etc.Age of the owner: Discounts may be provided to senior citizens (in some states)Gender of the owner: Female real estate owners could avail certain concessions (in some states)Usage of property: Whether it is a residential or a commercial propertyType of property: Whether it is an apartment or an independent houseStamp duty can be paid in the following three ways:Through non-judicial stamp paper: The agreement details are mentioned in this paper, and it is later signed by the executants.
It has to be submitted within four months at the sub-registrar’s office.By franking: The agreement is printed on plain paper and then submitted to an authorised bank, which processes the document using its franking machine.Online: In some states, the stamp duty can also be paid online, using the NEFT or RTGS.
Stamp duty charges range from 3% to 10%, based on the slabs determined by different states.Paid by:The liability to pay the stamp duty rests with the buyer of the property.
It is conducted mainly to verify the ownership of title over the property and any encumbrances over the property, so as to protect one against pre-existing claims.
It also includes a detailed search of all aspects relating to the history of that property such as the status of encumbrances over the property, the status of disputes relating to the property, the applicable regulations and the status of compliance of such applicable regulations relating to the property in question.Limited Search: Unlike full searches, in a limited search, the search relating to the history of the property may be limited to restricted aspects such as recent title history, encumbrances on the property, disputes related to the property etc.Typically, during the due diligence process, the following aspects will be examined:Legal capacity of the present owner of the property: It is important to check if the person is legally capable of entering into a binding contract for sale or lease of the property or for mortgaging the property.Nature of the current owner’s right over the property: It is necessary to identify the nature of the current owner’s right over the property and the transferability of such right.Source of right or title of the current owner: In India, a person can acquire right or title over the property by purchase, inheritance, partition, as a gift, through a will, or through perpetual lease (ongoing tenure over state land, issued for a specific purpose, and must be used only for the purpose for which it was originally issued).Legality of the construction: There are specific rules and regulations that govern the manner in which civil constructions need to be carried out in that particular State.
