HT Estates - - HTESTATES - Harsh Roongta

I own a free­hold res­i­den­tial plot of land and build­ing (con­structed on the plot) in Delhi. Now I want to take a loan from a bank for pur­chas­ing a new house. I want to take this loan against my ex­ist­ing house by cre­at­ing an eq­ui­table mort­gage. What is the amount of stamp duty that I will be re­quired to pay for the prop­erty?

- Akhil Narayan For cre­at­ing an eq­ui­table mort­gage (ie mort­gage by de­posit of ti­tle deeds), it is suf­fi­cient to de­posit the orig­i­nal ti­tle deeds /doc­u­ments of the prop­erty be­ing mort­gaged with the bank/mort­gagee. No stamp duty is payable in Delhi if eq­ui­table mort­gage is cre­ated by de­posit­ing ti­tle deeds. I want to buy a flat in Delhi and the seller has in­formed me that the flat was al­lot­ted to him by DDA on lease­hold ba­sis. Later, he got the flat con­verted to free­hold. What are the doc­u­ments that I need to check be­fore pur­chas­ing the flat?

Sangeeta Sharma You need to check the copy of con­veyance deed and check that the prop­erty tax and other util­ity bills have been paid up to the date of pur­chase. In­spec­tion/ver­i­fi­ca­tion can also be car­ried out at the of­fice of the sub-reg­is­trar to ver­ify that no other trans­fers in re­spect of the flat is reg­is­tered with him. You may even en­gage a lawyer to as­sist you in con­duct­ing due dili­gence. Since the gov­ern­ment has now no­ti­fied the low den­sity res­i­den­tial area scheme, I want to in­vest in a plot in one of the vil­lages where the scheme has been made ap­pli­ca­ble. Can I build more than one dwelling unit on a plot un­der this scheme?

Bharat Shah As per the low den­sity res­i­den­tial area scheme, the min­i­mum plot size should be 0.4 hectares. The no­ti­fi­ca­tion is­sued orig­i­nally men­tioned that the num­ber of dwelling units to be per­mit­ted on plot size of 0.4 hectares will be restricted by the FAR per­mis­si­ble. How­ever, through a re­cent no­ti­fi­ca­tion, the min­istry has clearly men­tioned that two dwelling units may be per­mit­ted with FAR of 20. It is fur­ther pro­vided that for ad­di­tional FAR of 10, one ad­di­tional dwelling unit may be per­mit­ted sub­ject to pay­ment of req­ui­site charges and ob­ser­vance of other terms men­tioned in the no­ti­fi­ca­tion. Harsh Roongta is CEO, Apna Paisa. He can be reached at ceo@ap­na­

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