Housing Society [Maharashtra]

Tuesday, 21 January 2014

Circular for Guideline Instruction (Valuation Factor) & New Construction Cost for Annual Valuation Table of 2014.

As per departments circular dated 17/01/2014 there is no change in ready reckoner market value rates declared on 01/01/2014 however, valuation factors guidelines and construction cost declared in 2014 is set aside till further orders and till than valuation factors guidelines and construction cost for the year 2013 is to be used.

CIRCULAR

The text of this Circular is a liberal translation of the original Marathi Government Circular. In case of discrepancy original Marathi Circular shall prevail.

Ja.Kra.Ka.15/Vamud/Sarvasadharansuchana/44

New Administrative Building,

Ground Floor, Opposite Vidhan Bhavan,

Pune – 411 001.

Date : 17/01/2014

Circular

Sub: - Guideline Instruction (Valuation Factor) & New Construction Cost for Annual Valuation Table of 2014. As per order received from Government it is informed that

1. Guideline Instruction (Valuation Factor) [Table-“A”] which is part of Annual Valuation Table (Ready Reckoner) for the Year 2014 will be discussed with all stakeholders and a final decision will be taken accordingly, till such time Guideline Instruction (Valuation Factor) given with Annual Valuation Table (Ready Reckoner) for Year 2013 should to be used.

2. New Construction Cost [Table-“B”] given with Annual Valuation Table (Ready Reckoner) for the Year 2014 will be discussed with Public Works Department and a final decision will be taken, till such time Construction Cost of new building given with Annual Valuation Table (Ready Reckoner) for the Year 2013 should to be used.

Approved by Respected Inspector General of Registration
& Controller of Stamps.

S/d

For Chief Controller Revenue Authority and Inspector

General of Registration & Controller of Stamp

Maharashtra State, Pune

Copy : 1) Respected Secretary, Revenue & Rehabilitation, Revenue & Forest Department, Mantralaya, Mumbai, for information.

2) Senior Technical Officer, National Information and Science Centre, Pune for information and necessary action.

3) Additional Inspector General of Registration & Controller of Stamps, Pune for information and necessary action.

Copy : For information and necessary action.

1) Additional Director, Town Planning, Valuation, Maharashtra State, Pune.

2) Deputy Inspector General of Registration & Deputy Controller of Stamps, Mumbai / Thane / Pune / Nashik / Aurangabad / Latur / Amravati / Nagpur.

/- This circular copy to be distributed to all the offices under you

Thursday, 9 January 2014

Calculation of Stamp Duty for Land Owners flat / Society Members Flat against Development /Redevelopment of Land compensations and benefits.

Order copies for calculating Stamp Duty for Land owners who gets the flat from Builder as compensations and benefits against the Development of Land. This is also applicable to the Society members who goes for Redevelopment. Also Year 2014 Construction Rate per square meter as per Government of Maharashtra.

Saturday, 4 January 2014

NO MAJOR DECISION BY MANAGING COMMITTEE TILL ELECTION UNDER 97TH AMENDMENT CO-OPERATIVE COMMISSIONER ORDER DATED 26.02.2013

OFFICIAL MARATHI TO ENGLISH TRANSLATION OF ORDER.

Sunday, 29 December 2013

State Co-operative Election Authority puts off till Dec- 2014

The government puts off coop society polls by a Year

Link:- http://epaper.dnaindia.com/story.aspx?id=57473&boxid=23625&ed_date=2013-12-29&ed_code=820009&ed_page=7

Thursday, 26 December 2013

LOOK BEFORE YOU SIGN A RENT AGREEMENT

LOOK BEFORE YOU SIGN A RENT AGREEMENT

When Mr. A finalized the house he wanted to rent in Pune a year ago, he thought he would stay there for 2-3 years till he bought his own house. He had agreed to pay a monthly rent of Rs.5,000 and furnished Rs.50,000 as deposit money.

However, six months later, the Owner/landlord wanted to increase the rent by Rs.500 as the rentals in the area had gone up. “My landlord told me that such an increase was the norm, and since nothing was mentioned in the lease agreement, I had little option but to pay the additional money”, he adds.

Mr. A could have avoided this hassle if he had scrutinized the rent agreement carefully and made changes that could have served his interests better. However, most tenants are not even aware of the points that should be included in the rental agreement. Here are the things you should check while sifting through the contract.

IS THE LESSOR THE ACTUAL OWNER?

Before you sign the agreement, be sure that the person you are transacting with is the actual owner of the property. Often, NRIs or investors hand over their property to caretakers, who may lease it to a third party without the knowledge of the owner.

So, you should verify the title documents, such as the sale deed and share certificate, besides obtaining a no-objection certificate (NOC) from the housing society where you want to lease the property. If the apartment is mortgaged, the original sale deed will be in the custody of the bank. In such case, an NOC should be obtained from the bank. This will mention the rightful owner’s name. Tenants should be wary of arbitrary eviction if they deal with an unsolicited party. A case of trespassing can be filed against such a tenant if he refuses to vacate within the given time frame. The tenant cannot challenge eviction in this case.

WHAT DOES THE RENT AGREEMENT CONTAIN?

A rent agreement includes the terms and conditions under which the property is given on rent. It specifies the rent value and the tenure for which the agreement is made, as well as the security amount that needs to be deposited with the Owner/landlord by the tenant. The agreement should also clearly mention the day before which the rent
is expected to be paid, if paid. If the tenant fails to pay the rent before the predetermined period, the penal charges that he would be liable to pay should also be defined in the agreement. The rent agreement could also mention the facilities, such as parking space or the usage of society’s gym, included with the property. There could also be additional monthly charges, such as the society maintenance charge and club fee. It is best if the additional charges for using such facilities are clearly spelt out, along with the person who is supposed to bear them.

The tenure of a rent agreement is usually 11 months, unless otherwise specified in the contract. It is mandatory for the owner to get the document registered and do the Police Verification of Tenant family.

The agreement should also specify the notice period and penalty for cancelling the agreement without completing the specified period. Typically, a two month notice is served in case of high rental properties, while one month’s notice is sufficient for low rental ones.

WHAT SHOULD YOU CHECK?

A tenants should verify whether the owner has included a rent escalation clause in the lease agreement, which could be used to increase the rent after couple of months. The best way to safeguard yourself is to ensure that the agreement specifies the dates on which the rent escalation will be applicable and the percentage of
increase

You should also make sure that there is a clause on the sale of the house. If the owner decides to sell the house during the term of the rent agreement, you should know how many months you get to search for another accommodation.

It is also important to check that all the appliances and the connections in the house are working properly before you sign the agreement. Usually, minor repair work for installed electrical appliances is the responsibility of the tenant and he has to pay for them. However, if the property is damaged because of negligence on your part,
the landlord can rightfully use security money deposited with him for carrying out the necessary renovation.

You also have the right to see the documents that prove all previous bills related to the house have been paid, especially the electricity, water and gas bills. While you are at it, make sure to peruse the papers that state the property tax has been paid by the Owner/landlord.