The Chandigarh government is pushing for the transfer of assets, as was the case in Himachal Pradesh, to avoid financial loss, artificial prosperity caused by customers and investors, and other irregularities. regarding the use of power of attorney.
With this in mind, the maximum amount of money a business can borrow in Chandigarh means that it cannot be sold and registered with a commercial company under state law, but it can be transferred through the POA. Some parts, such as sections 41-52 as well as 38 west, also pay rent and can only be shipped on a POA basis. The government did this to prevent the property boom Flats for sale in Chandigarh. But to some extent the government has succeeded because the property is not sold publicly and its value is controlled. POA is very effective in price control. for example. Room 2 at MDC costs 35 lakhs while rent can be had from 21-22 lakhs.
Power of attorney (POA) is the authority of a government document authorized by a person, called assistant or principal, to authorize another person, the name of the issuer, or his agent, to act on his behalf.
Except. Section 1-A of the 1882 Attorney General’s Power of Attorney defines power as “power of attorney includes any document which entitles a person to act in the name and on behalf of the person exercising his power”.
The real estate (plan or apartment) is privately owned, fully owned and contracted (according to law) and the owner/landlord is not involved.
If the loan is government-sponsored property or a right to hold the property for a specified period, it is usually 99 years, which may change from time to time. It can only be transferred by POA and cannot be used for registration. However, POAs can be created on a lease and free lease basis. This means that free rent can be transferred from the POA to the registry, but rental property can only be transferred through the POA.
Also, the government is trying to figure out how to get rid of proxy customers because buying a house by proxy comes with risks and penalties because the law does not allow buying real estate based on power of attorney. You get people can sell to more than one buyer based on POA, which is not possible with registration. For example, if Mr. B home in POA and they approached Mr. C, so, Mr. C sells M. Room D has two bedrooms, leaving Mr. B absolutely. Here Mr. B becomes the owner and Mr. B is finally rejected. While politicians can sue, the legal process is also long and costly. The POA may or may not be canceled depending on the POA produced.
Also for the tools such as sale contract, delivery certificate, real estate exchange, gift contract Flats for sale in Kochi, distribution certificate, lawyer license, delivery document, and service stamp transfer practice to pay market benefits real estate. immovable.
The order of the POA may vary depending on the wishes and capabilities of the buyer. However, the rent is usually paid for 99 years, which means it cannot be sold for 99 years on the listing, the house cannot be rented out, or the building or renovations cannot be repaired. Some loans must be repaid to the owner, which may represent a percentage of the down payment. for example. Let’s say a 1 canal house in Mohall has a capacity value of 1.3 free crowns, the rent would be around 70, which would pay the same loan.
The advantage of a good Flats for sale in Ahmedabad is that you cannot use a rented rental house, but it can be used as free rent. There were also problems with the registration of real estate during the POA.