I am an NRI and wish to invest in properties in India. Is there any ceiling limit to residential and/or commercial property that I can purchase in India? Is prior permission from RBI necessary before any such transaction?
—Asha Sharma As an NRI you are free to purchase residential and/ or commercial property in India without any prior permission from RBI. Further, there is no upper or ceiling limit on the number of properties that you may acquire.
I stay in a leased apartment. The plaster on the wall in one of my rooms has come off. I have repeatedly asked my landlord to repair it, however, he has failed to do so. Do I have a legal right to make my landlord get the walls plastered again?
—Rohit Gupta Usually the responsibility vis a vis the maintenance of the flat is covered in the lease deed. If your lease deed provides that repair of this nature is to be carried out by the lessor and he fails to do so you can get the same rectified and pay for it and deduct the cost along with interest from the rent payable to the landlord.
I had written a will last year but want to make some changes to the scheme of inheritance. Should I proceed to write a codicil or a new will?
—Himmat Sharma If you wish to make major changes to your earlier will, you may write an entirely new will to avoid the possibility of any contradictory clauses. The new will should clearly specify that it is intended to supersede the earlier document in its entirety. In case the changes are minor, you may write a codicil to amend the earlier will, clearly referencing the date of execution of the earlier will as well as the clauses that are being amended.
My uncle wants to gift his property to me. However, being bedridden he is unable to visit the sub-registrar’s office for registration of the gift deed. Is there any alternative for getting the gift deed registered?
—Sambit Shah As this is an exceptional circumstance, your uncle may move an application showing special cause with the office of the concerned sub-registrar/registrar. On such application considering your special case, the authorised revenue officer will visit your uncle’s residence and accept the gift deed for registration. option
Create a legal and regulatory framework to enable private sector participation in rental housing; and to
I m p r o ve t h e financial attractiveness of rental housing.
Based on the recommendat i ons of t he t ask f orce, a National Rental Housing Policy is currently under formulation. By way of legislative initiatives, this national policy also includes:
The Draft National Urban Rental Housing Policy 2015 The Draft Model Tenancy Act 2015, and
Rent Control Act 1992 The vision of t he Draft National Urban Rental Housing Policy 2015 is to enable the growth of rental housing in a holistic manner. Its key objective is the promotion of: Basic shelter facilities Social rental housing for the urban poor Affordable rental housing for specific target groups Rental housing as a stop gap arrangement for aspirant homebuyers Institutional rental housing for the working class Formalisation/regularisation of rental housing on pan India basis Facilitate fund flows to rental housing