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Chandigarh, India Attorneys in related practice areas.
Real estate law in Chandigarh, a prime city in North India, is governed by various laws and regulations at the local, state, and national level. The primary law overseeing real estate transactions is the Real Estate (Regulation and Development) Act (RERA), 2016, which aims to protect home buyers as well as help boost investments in the real estate industry. Besides, the Transfer of Property Act, 1882, the Indian Contract Act, 1872, and the Registration Act, 1908 also play a crucial role in determining the course of property transactions.
Given the complexities involved in property transactions, as well as the heavy involvement of legal paperwork, a real estate lawyer can prove invaluable. Lawyers can assist in navigating difficult situations such as property disputes, real estate fraud, agreement checking, property registrations, legal advice on home loans, title verification, and more.
Chandigarh, being a Union Territory, also comes with its unique set of local laws. The Chandigarh Disturbed Areas Act, 1983, and the rules framed under it, restrict the transfer of immovable property without the previous permission of the District Magistrate. Capital gains arising from the sale of a property are also subject to tax under Income Tax laws. The laws also stress on the mandatory registration of property deals to prevent fraud.
Yes, conducting due diligence is extremely important. This process helps to verify the legality of the property, including the verification of the title and the existence of any liens or encumbrances on the property.
Yes, non-resident Indians (NRIs) and persons of Indian origin (PIOs) can purchase property in India, with certain restrictions. They cannot purchase agricultural land, plantation property, and farmhouses.
Yes, it is mandatory to register property transactions under the Indian Registration Act, 1908. Failing to do so can make the transaction incomplete and legally unenforceable.
RERA helps to regulate and promote real estate transactions. It protects interests of home-buyers and imposes certain obligations on property builders and brokers.
A property dispute could be resolved through negotiation, mediation, or, as a last resort, by filing a lawsuit with the relevant court.
The Chandigarh Housing Board (CHB), Real Estate Regulatory Authority, Punjab and Haryana High Court are the key government bodies for real estate matters. Websites such as the India Code website and official Gazette of India can provide information on real estate laws and amendments. Major law firms also often put up free resources on real estate laws and changes, providing advice on their blogs or websites.
If you need legal assistance in real estate in Chandigarh, it's advised to consult with a legal practitioner experienced in real estate law. They can provide advice tailored to your specific circumstances and guide you through the complex legal process.
