Points to Remember While selling or buying a property

When we buy or sell any property in Delhi NCR, we need to be very cautious. A little carelessness can lend you in a very large money loss. So while finalizing any such deal you need to keep in mind the following steps.

1. Terms of payment: Seller and buyer need to agree upon a mutual agreement regarding the payment schedule and payment amount etc. It also discusses the amount paid in advance and all conditions related to the advance payment etc. Everything should be kept in writing and should be properly signed by both the parties along with two or more witnesses. 
2. Transfer of property's title: This is one of the last and very important steps during the property deal. The seller has to transfer the property to the name of buyer with the local registrar under whose jurisdiction the property was earlier registered. The buyer also need this title transfer in case he is taking a loan for this property. Once the seller gets his full and final payment, he should transfer the property title to the buyer's name.
3. Stamp Duty: The govt. authorities charges a fix percentage of the total sales value of the concerned property. in Delhi the current stamp duty charges are 4% for a male buyer and 6 % for female. In case of a joint ownership of the property the stamp duty to be charged at 5% of the total sale amount.
4. Sale Deed: This is the final and most important document in the deal of a property. It is the final sale agreement between the seller and buyer. Both the parties need to go through this deed thoroughly. If there is any kind of problem, confusion or difficulty, any of the parties can ask for the expert's help for the same. In case the property has more than one owner then each of them has to sign this document. This document also provides the details of the property like the layout plan, necessary permissions from the concerned authorities, maps and details to identify the owners of the property.

Capital and rental Values in Various Localities in Delhi

Capital value of properties in Various Areas of Delhi

Name of the Area	Rates per Sq yard (in thousand Rupees)
	In 2003	In 2010
Sunder Nagar	250	800
Prithvi Raj Road	225	700
Vasant Vihara	225	650
Golf Links	200	450
Panchsheel park	150	450
Shivalik	100	300
Greater Kailash	90	250
Lajpat Nagar	60	125
Malviya Nagar	60	125
Mehrauli	10	80
Aayanagar	5	25
Chhattarpur	3	20
Seelampur	5	40
Rajouri Garden	20	150
Pashcim Vihar	20	150
Punjabi Bagh	40	150

Rental value of properties in Various Areas of Delhi

Name of the Area	Rates per Sq yard per Month
	In 2003	In 2010
Sunder Nagar	500	2000
Prithvi Raj Road	400	1800
Vasant Vihara	400	1750
Golf Links	400	1600
Panchsheel park	400	1500
Shivalik	300	1000
Greater Kailash	300	800
Lajpat Magar	200	700
Malviya Nagar	150	600
Mehrauli	50	150
Aayanagar	20	100
Chhattarpur	20	100
Seelampur	20	100
Rajouri Garden	50	150
Pashcim Vihar	50	150
Punjabi Bagh	50	150

Please note that these figures are based on estimates. We have estimated the prices for a very well constructed flat or villa on the prime most location of the above mentioned area. You are requested to consult us by phone or in person if you want to know the exact prices for any particular property.

House tax in Delhi by MCD

Municipal Corporation of Delhi collects property tax or house tax annually. According to MCD's property tax collection Delhi is divided among 8 categories A to H category. A category indicates the costliest areas of Delhi such as Vasant Vihar, Prithviraj road and Sundar nagar etc.
MCD has increased the rates of property tax from the new financial year. The effective rates of house tax in the financial year 2010-2011 would be	A and B              12 % , C, D and E         11% F, G and H           7%

You may simply go to http://www.mcdpropertytax.in/ to submit your house tax. This website is made in a very simple and user friendly way. There are various modes of payment. You can find your property details, even if you don’t know your property ID. For that you have to go to the link List of property IDs and then enter your name and locality name to get you property ID. After that you just need to enter your ID into the form where you can assess the value of your property tax by simply entering the covered area and nature of property etc.

                                  

Metric unit as they are used for various Property kinds.

The property in Delhi is measured in Sq feets or Sq yards.
The plots are measured in yards or meters.
 9 sq feet makes a yard, e.g. a flat with 900 sq feets area means a flat in 100 sq yards.

Similarly 1 meter is equal to 1.20 sq yards. e.g a plot in 100 meters will equal to a plot with 120 yard area.

Agricultural lands are measured in hectares, acres, bighas and kanals.
1 hectare equals 2.5 acres.1 Hectare typically means 12000 sq yards or 10000 sq meters

1 acre equals 5 bighas. An acre means 4840 Sq yards or 4000 sq meters

1 bigha equals 968 sq yards of 800 sq meters

There are 6 Kanals in 1 acre or 15 kanals in 1 hectare. It means 1 kanal equals 605 yards or 500 sq meters.

One marla plot means 30 yards, but a 4 marla plot will mean 100 yards plot.

Agricultural land or Farm house

Delhi and NCR has thousands of farm houses in western areas of Najafgarh and Meahruli in south Delhi. Farm house means an approved piece of land where the owner is allowed to construct a house in the farm (covering maximum 10% or 20% areas and leaving the rest as green area). The normal farm house needs to have a minimum standard size of 1 hectare (or 2.5 acres or 12000 sq yards). But we have many farm houses covering hundreds of acres. In Delhi and nearby area one can also find farm houses with much smaller size i.e. 1 acre (or 4840 sq yards). These are a few special cases approved under the Punjab Act.

The farm houses are generally not used for residential purpose. The owners use a farm house to earn large amount during by giving it on per day rental basis for functions and parties. In the season of marriage the per day costs for a farm house reaches as high as 10 lac per day. But after the massive traffic jam problems due to the functions taking place in these farm houses, the Delhi Govt. has banned any kind of functions to be done inside the farm house not located on the roads with  width less than 60 meters (200 feet). 

Agricultural land is a the land which is recognised  by govt. for the agricultural purpose. Typically its different from the farm house as its not approved by the govt. for constructions inside. The price for agricultural land is also very high in Delhi and NCR. The current price per acre for a farm house land varies between 1 crore to 25 crores inn Delhi NCR.

                          

Difference between Built up area, super area & carpet area.

When we talk about the upcoming real estate project of any particular building construction company, we often hear the words like Super area, built up area or carpet area. We will try to understand the basic difference between these three things here.

                   Basically the super area includes the parking space, lifts, balconies and servant rooms etc. If we exclude the Parking space and lifts we will get the net built up area. And if we further reduce the area covered by walls, balconies, servant room and toilets we get the final carpet area which is used for living. This area is called carpet area because we can cover this particular area by a carpet. 

For example, if the super area of any particular flat is 1200 sq feet then it doesnt mean that we will have the complete 1200 sq feet for living. After we exclude the parking and lift space suppose 100 sq feet, we'll get the built up area i.e. 1100 sq feet. If we again reduce the walls, balconies, servant room and toilets we will get the actual carpet area which is (in the example here) 1100 - 300 = 800. So you can see that there is a huge difference between super area and carpet area (around 400 sq feet). 

Flats in Delhi or NCR

Flats | Floors | Apartments are the hot favourite property type for investor or end user. Flats are basically units constructed on a plot of land as one over the other and so on. Flats are a part of a building which can be a high rise (Multistorey with 4-5-6 or even 20 floors) or a part of a duplex or kothi, which has separate floors called independent apartments. In Delhi, Builder's are not allowed to construct any building above 15 meter (50 ft) height. Actually, Delhi is constructed above a high risk zone (earth quake probe zone). That's why we don't find many high rise building in Delhi except one or two Govt. buildings. 

                                                 In NCR there are lots of high rise building and thousands of real estate companies developing beautiful societies. In Gurgaon we have DLF, BPTP, Piyush Group and Raheja Builders etc. have developed and developing hundreds of projects (each project with 100 to 200 flats).

Ghaziabad, Noida, Greater Noida, Faridabad are also developing thousands of flats but the demand for Flats is so hight that their demand is always more than the supply, inflating the prices to the end users.

Govt. also keeps trying to contribute by making large projects through DDA and NBCC etc. These projects have large number of flats (2000 to 10000 flats). But even after so many efforts the demand for the flats always keep very high.

The most famous kind of flat in Delhi-NCR is a 2 BHK (2 Bedroom, Hall, Kitchen) flat. The starting price for  a basic 2BHK flat is 20 lac in Delhi. This price keeps increasing with more facilities and factors involved. For example a flat in Mehrauli's chhattarpur area costs around 20 lacs, but you cant avail loan facility in this area. On the other hand you can buy the same flat in Malviya nagar for around 50 lacs with loan and other better facilities. If you stretch our budget to 75 lacs then you can buy the same size flat in a posh area of Safdarjung Enclave or a DDA flat in Saket or Munirka Vihar. The posh most areas like Vasant Vihar or Panchsheel park or GK needs a large budget of more than 1 crore for a 2 BHK flat. Similarly the price of a 3 BHK flats ranges between 30 lac to 2 Crore. 

                                                                           You need to keep everything in mind before you decide to buy a flat, these factors are budget, locality, construction quality, covered area etc.

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