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A property Index II document is automatically generated on the registration of transfer documents pertaining to immovable properties. It is issued and maintained by the Sub registrar�s office and the Stamp Duty & Registration Department. It contains a short description of the registered documents and details of the immoveable property. It is a public document, certified by the government and available to any member of the public.
The 7/12 extract is a document that displays details about a said piece of land such as survey number, total area, boundaries, and ownership history. It is a combination of two forms; Form 7 which contains details of the land owners and his rights and Form 12 which lists specifics about the land type and usage.
The �Saat-Baara-Utara� is the regional term for 7/12 Extract Document in Maharashtra. The document is maintained by the Revenue Department of the state for the purpose of tax collection. It is issued by the Tehsildar or the concerned land authority. It is an important indicator of the legal status and includes information pertaining to the ancestral history of the land, i.e., past disputes, litigations, court orders, etc. For agricultural land, this extracts also records the types of crop grown on the land in the past.
A Conveyance Deed is a legal document that records the transfer of ownership from the builder-promoter to the co-operative housing society upon formation of the later. According to the Maharashtra Ownership Flats Act (MOFA) 1963, the builder must transfer the ownership of land and building to the co-operative housing society within four months of formation of the society. It is a critical document that establishes the rightful ownership of the co-operative housing society for redevelopment projects.
Deemed conveyance is a legal remedy provided to cooperative housing societies in Maharashtra that have failed to secure a conveyance deed from the developer. Under the deemed conveyance scheme, introduced in 2008, if a developer fails to transfer the ownership of land to a co-operative housing society within a specified period, the society can apply to the competent authority for deemed conveyance. A deemed conveyance order has the same effect as a conveyance deed.
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The aluminium formwork system is a building system used to form cast-in-place concrete structures of buildings. This formwork is made of aluminium alloy, which is very strong and has high tensile strength. Unlike steel, aluminium can be used several times. Lightweight aluminium is also easy to handle and quick to operate making it highly adaptable and cost-effective.
A sale is a complete out-and-out transfer of ownership of a property (with all its rights and liabilities) from one person (or more) to another (or more) in exchange for a consideration, i.e. money. As per Section (17) of the Registration Act 1908 registration of a sale is mandatory when the value of the immoveable property exceeds INR 100/-. If a property is transferred for something other than money, the transaction is referred to as an exchange and not a sale.
The registration fee is calculated at the rate of 1% of the agreement value of the property with a maximum cap of Rs. 30,000/-.
A restrictive covenant is an agreement that a seller writes into a buyer�s deed of property that restricts how the buyer may use that property. For example, the seller may want the buyer to leave a building�s original fa�ade intact. As long as they don�t break the law, restrictive covenants can be as specific and arbitrary as the parties are willing to agree to.
An easement refers to a party�s right to use or improve portions of another party�s property, or to prevent the owner from using or improving the property in certain ways. The first type is referred to as affirmative easement, e.g. A utility company may have the right to run a gas line through a person�s property or pedestrians may have the right to use a footpath that passes through that property. A negative easement restricts the title-holder from doing something, e.g. An owner may not be allowed to build a structure in his garden that would block his neighbour�s light.
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