TIPS OF VASTU SHASTRA FOR MAIN DOOR ENTRANCE - 3feet.in

TIPS OF VASTU SHASTRA FOR MAIN DOOR ENTRANCE

VASTU SHASTRA is the ancient science of architecture based on directional alignments and abiding essence, thing, object, article, goods, wealth, property, etc. However, some people tag it to superstitious beliefs, while it is actually a scientific method that maps the ways for getting positive energies in your workplace or living place. If a structure or landscape is designed properly, Vastu can impart growth, success, and happiness in many aspects of life.

According to Vastu Shastra, home is considered as the dwelling place of Lord Ganesha, Goddess Lakshmi and Goddess Saraswati. It is said to be comprised of five basic elements i.e. earth, water, air, fire, and space. Based on these elements, Vastu Shastra helps to attract positive energy. For this, it’s important to focus the direction of particular objects and rooms, dimensional accuracy and positioning of the entrance gate in accordance with the predefined rules. This article discusses some tips for a prominent part of the house i.e. the Main Entrance and offers Vastu guidance for the same.

Vastu Tips For Main Door Entrance

► After performing the Vastu Puja, an auspicious day must be selected for fixing the main door
► Divide the width of the building in 9 equal parts to determine the exact location
► Door should be fixed from the fourth section in the right side to the sixth section in the left side while facing the house
► Cardinal orientation has its own effects as per the directions such as,

√ North and West bring wealth in your life√ East is for all benefits√ South stands for liberation

► Accurate location of door is need to focus on for the activation of positive energies in surroundings
► Do not locate doors in room’s corners
► In comparison to the other entrance doors of the house, the main door should be the largest one
► Fix external doors in a straight line in a building
► Entrance Door should be on the same side of the main door
► Avoid direct facing of the opposite house
► Front door must not face any demolished property
► Don’t keep any underground tank under the main entrance
► Gate should be made of wood from Teak, Honne and Matti instead of wood from Peepal and Coconut
► Vastu pundits recommend avoiding the self closing doors which are available in the market nowadays
► Decorate the doors with auspicious signs of Lord Ganesha and Goddess Lakshmi to bring good luck in your family

Vastu Shastra is trusted for bringing peace and happiness in the lives of many people, since ages. Therefore, for your own betterment apply the Vastu Shastra in designing an important part like the Main Entrance for your home.

HOW TO DO POKKUVARAVU OR MUTATION OF YOUR PROPERTY IN KERALA - 3feet.in

HOW TO DO POKKUVARAVU OR MUTATION OF YOUR PROPERTY IN KERALA

The monumental act in any property purchase is the signing of the sale deed. But contrary to what many people think, the property purchase process is far from over.

Just because the property is registered doesn’t mean it is legally theirs. The property legally becomes the buyer’s only after the process of mutation is done.

Definition of Mutation/Pokkuvaravu

When a property is sold or transferred from one person to another, there needs to be a change in the title ownership as well. This process of transferring the ownership is called mutation. The property is recorded in the land revenue department under the new owner’s name, and from then on this person will be responsible to pay the property tax charged by the government.

The documentation procedure for mutation, and the applicable fee may vary from state to state. The process of mutation is called “Pokkuvaravu” in Kerala.

How to Do Pokkuvaravu or Mutation of Your Property in Kerala

Here’s the step by step process on how to do Pokkuvaravu or mutation of property in Kerala.

1. Complete Property Purchase

The process of purchasing the property from the seller needs to be fully completed. This include identification, negotiation, payment and getting the property registered in the name of the buyer.

2. Collect Sale Deed

Once the property sale is registered with the respective sub-register office, they will process it. The sale deed can be collected from them within a few weeks.

3. Pokkuvaravu Application

After receiving the sale deed, an application need to be given to the respective village office, requesting the pokkuvaravu/mutation to be done in favour of the buyer.

4. Pay Fees

Village offices charge a nominal fee for getting the pokkuvaravu/mutation done. The current rates applicable are as follows:

·Rs. 25 for up to five acres of property

·Rs. 50 for over five and up to 20 acres

·Rs. 100 for over 20 and up to 40 acres

·Rs. 200 for over 40 acres and up to two hectares

·Rs. 500 for over two hectares

This fees need to be paid at the respective village office for the application to be processed. The above mentioned rates will be revised by the government from time to time.

5. Submit Copy of the Deeds

A copy of the current and previous registration deeds need to be submitted at the village office.

6. Verification of Original Deed

The respective authorities in the village office may need to verify the original deed. In that case, the original deed needs to be produced to them for verification at the village office.

7. Issue Date of Property Verification

A village officer (surveyor) will then visit the property in order to physically measure and verify it. The surveyor will fix a date for the site visit in agreement with the applicant.

8. Physical Survey

The surveyor from the village office will visit the property on the agreed date, measure the property and also verify its boundaries.

9. Disputes with the Neighbours

The surveyor will also check if there any unresolved disputes with any of the neighbours in terms of borders, area or any other disputes with respect to the said property.

10. Transfer of Title

If there are no outstanding issues or pending disputes, the village office will transfer the title of the land from the seller’s name to the buyer’s buyers name in the Village / Taluk records as applicable. The buyer will get a new Thandaper or the land gets added to their existing Thandaper in the village.

11. Pay Tax

The new owner will now be allowed to pay all property related taxes under the new Thandaper in their name at the respective village office.

HOW TO OBTAIN ENCUMBRANCE CERTIFICATE IN KERALA - 3feet.in

HOW TO OBTAIN ENCUMBRANCE CERTIFICATE IN KERALA

The term “encumbrance” refers to the legal liability on a piece of property that lowers its value. It is usually used with respect to property that is kept as security by the owner, but the dues have not been fulfilled. The document that lists out all the encumbrances on a particular property over a specific time duration is called the encumbrance certificate.

The encumbrance certificate is a very important legal document that has to be obtained before any property purchase. It lists out all the financial and legal transactions that have been made with respect to the property for a specified time period.

The encumbrance certificate is evidence that the property on sale is free from mortgages, and there are no legal disputes revolving around it. The encumbrance certificate permits the property to be sold as a free title and the buyer gets the ownership without any pending dues attached to it.

The encumbrance certificate is vital for the purchase of any property, and for taking out a loan against the property. Most banks and government offices require at least 13 years of encumbrance, but you can get up to 30 years listed on the encumbrance certificate.

The encumbrance certificate for a property can be obtained from the relevant sub registrar’s office where the deed was originally recorded. Here’s the process to be followed to obtain an encumbrance certificate.

How to Obtain Encumbrance Certificate in Kerala

Step 1: Get the Property Details

Find out the survey number of the property, and the owners’s name. This is the basic information that is required in order to apply for the encumbrance certificate.

Step 2: Apply for the encumbrance certificate (EC)

The EC application needs to be filled out with mandatory details such as:

·         Name of the property owner

·         Survey number of the property

·         Property description (including measurements and boundaries)

·         Period for which EC is requested

The application is made through Form 22 to the Tehsildar with a Rs. 2/- non-judicial stamp. The applicant will also have to furnish additional details such as their complete residential address (with address proof), and also mention the purpose for which the EC is required.

The application can then be submitted at the jurisdictional sub-registrar’s office.

Step 3: Pay the required fees

The applicant needs to pay the required fees at the sub-registrar’s office for the application to be processed. The fees will be charged year-wise, with even a fraction of the year being considered as a full year. For the purpose of encumbrance certificate, the year starts on April 1st and ends on March 31st .

Step 4: Issuance of the encumbrance certificate

The Tehsildar look into the reports from the Talatti (Patwari) to check if there is any entry for the property/owner under question. If there is no such entry, a detailed enquiry is made the the EC is issued between 15 to 30 days.

The EC is issued on Form No. 15 or Form No. 16 based on whether any encumbrance is produced on property or not. If there is no encumbrance on the property during the specified time period, then Form No. 16 will be issued with nil encumbrances.

On the other hand, if there is any charge against the property for the specified time period, then Form No. 15 will be issued. Form No. 15 will also include relevant details such as, the nature of the charges produced, documents of the property registered, amount secured, registration details, references, etc. that have been registered and recorded in Book-I by the registration authorities for the time period for which the EC was requested.

The officer completes the verification of the EC and generates a print out which specifies all the transactions made during the specified period.

Step 5: Verify the encumbrance certificate

Make sure that the EC has been signed and stamped with the official seal. The survey number and other details pertaining to the property also have to be cross-verified with what was mentioned in the application.

Limitations of the Encumbrance Certificate

The encumbrance certificate does have some limitations, though. It cannot be considered as the only evidence to verify the encumbrances of a property.

Certain transactions regarding immovable properties, other minor transactions are not captured in the encumbrance certificate because they are not required to be registered under the Registration Act, 1908.

Details of equitable mortgage, where a mortgage is taken by depositing the original title deeds of the property with a bank, are not registered at the registrar’s office, and will therefore not reflect in the encumbrance certificate. The same is the case for testamentary documents or leases for a period lesser than a year.

Other transactions like tax liabilities, oral tenancy, family arrangements, prior unregistered agreements, unregistered wills, and other miscellaneous agreements do not need to be registered, and will not be present in the encumbrance certificate.

The encumbrance certificate certainly cannot be neglected during a real estate deal, but it’s best to not rely on that alone. We hope this article has clearly outlined the steps you need to follow to obtain an encumbrance certificate in Kerala.

GUIDELINE VALUE OR FAIR VALUE OF LAND IN KERALA - 3feet.in

GUIDELINE VALUE OR FAIR VALUE OF LAND IN KERALA

Registration department is one of the best sources of generating revenue to the state government of Kerala. That being the case, income generated from transfer of landed properties plays a significant role and hence the importance of stamp duty and registration charges levied on transfer of landed properties.

Relevance of Fair value or Guideline value in Respect of Registration of Real Estate Properties

The document of title prepared in connection with transfer of properties should bear the required stamp duty in order to get it registered in terms of Kerala Stamp act,1959. Apart from the stamp duty, the Registration department will realise a registration fee for every transaction. Both these stamp duty and registration fee are levied at prescribed rates based on the value of land. This leads to the fact that the income derived by government from the registration of real estate properties is dependent on the value of the said property.

As the stamp duty for registration of landed properties is decided in relation to the sale value of the properties, there was a tendency to fabricate the sale value. In other words, people used to show reduced sale value in the deed with an ulterior motive of reducing the stamp duty and registration fee. Going forward, this led to large chunk of loss of revenue to government. It was in this situation that the government introduced Fair Value/Guideline Value system whereby the fair value of each and every property in the state is notified.

WHAT IS GUIDELINE VALUE OR FAIR VALUE OF LAND IN KERALA?

Fair Value of landed properties is calculated per are and notified by the Government of Kerala. It is evaluated based on various factors viz; type of road, importance of plot, road access, nature of land etc. The registration of transfer of properties will not be allowed in case the sale value has been shown in the deed as lower than the Fair Value fixed by government. This Fair Value which is also known as Guideline Value will be revised from time to time as and when there is marked increase in market value.

Categories of land for the purpose of Fair Value

The entire landed properties in Kerala have been classified into 15 categories for the purpose of Fair Value calculation, which are furnished below:

1. Commercially important plot

2. Residential plot with NH/PWD road access

3. Residential plot with Corporation/Municipal/Panchayat road access

4. Residential plot with private road access

5. Residential plot without vehicular access

6. Garden land with road access

7. Garden land without road access

8. Coastal(belt)

9. Water logged land

10. Rocky(land)

11. Waste( land)

12. Wet(land)

13. Hill Tract with road access

14. Hill  Tract without road access

15. Govt.property

How to find out the Fair Value/Guideline Value?

The Fair Value of land in Kerala can be ascertained from the website of Kerala Government Department of Registration. The web address is as shown below:

www.igr.kerala.gov.in.

When  the image with the link ‘fair value of land’ is clicked, another window  will appear wherein you have to feed the relevant district, RDO, taluk, village and survey number or resurvey number. The Fair value/Guideline value of the property can be ascertained like this.

How to calculate the stamp duty and registration fee?

Of course, the actual sale value of the property is the criterion for calculation of stamp duty and registration fee. But, on the other hand, it is mandatory that the sale value should not be less than the Guideline value/Fair value as has been notified by government.

Rate of Stamp Duty and Registration Fee

The rate of stamp duty has undergone changes from time to time. Before 2011 the rates of stamp duty for Panchayat, Municipal and Corporation areas were 7%, 8% and 9% respectively. But in the year 2011 a reduction of 2% was allowed in rates of stamp duty across the board with the result that it became 5%,6% and 7% respectively. Subsequently,a uniform rate of 6% stamp duty was introduced regardless of the jurisdiction in which the land in question is situated. This is the rate in force at present. Apart from this, a Registration Fee of 2% also will be realized.

In the case of partition of family property and gifting of land for immediate family members viz; spouse, children, brothers, sisters and grand children, the stamp duty has been fixed at Rs.1000.00 regardless of the value of land.(Though the state assembly of Kerala has approved this maximum limit of Rs.1000.00 as stamp duty necessary government order  is yet to come. However it is expected that the said order will come out shortly)

In such cases, for transactions among immediate family members, the registration fee is only 1% of the Fair value/guideline value without limit. Till recently, this was 1% of Fair value subject to maximum of Rs.25000.00

What is the present scenario of Fair Value?

Recently, the Fair value which had been prevalent w.e.f.01.04.2010 was increased by 50% across the board, which was notified by a gazette notification No.SRO 698/2014 dt.14.11.2014. This increase has come into force on 18.11.2014. Naturally, there have been a lot of complaints against this increase in Fair value. Hence Kerala government decided to implement a new system whereby district collectors will be delegated powers to fix fair price(The district Collector concerned has to take a decision within 60 days). Accordingly, government has decided to amend the Kerala Stamp (Fixation of Fair Value of Land) Rules,1995.

According to the new system, the person buying a property will be given an option of ‘Conditional Price Assessment’. In this connection, a new section, 28B shall be inserted in the Stamp Act to empower SROs to assess fair value of land conditionally. As per this, two third of the increased 50% stamp duty and registration fee will be realized and the registration allowed subject to the condition that the remaining one third of the increased portion is remitted by the person in the treasury. This one third portion will be refunded to the party concerned with interest provided the Dist.Collector, on perusal of the complaint, is convinced that the notified Fair Price is high.

COMMERCIAL SPACE, OFFICE AND LAND LEASING IN KERALA - 3feet.in

COMMERCIAL SPACE, OFFICE AND LAND LEASING IN KERALA

According to Investopedia, a lease is defined as:

A legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years. Both the lessee and the lessor must uphold the terms of the contract for the lease to remain valid.

Commercial leasing in Kerala follows the same norms as those outlined in the definition above. A lease agreement is made between two parties, binding them both in a legal contract for the duration of the lease.

The terms of the contract are outlined in the legal agreement and will include such details such as the address of the property, duration of the lease, monthly rental to be paid, facilities available on the property, and conditions for the closure of the lease.

The following types of properties can be leased for commercial purposes:

1. Showroom spaces – These are large, empty spaces that are ideal for businesses to display their wares.

2. Standalone shops – These are individual shops that are not part of a commercial complex.

3. Shops in a mall – These refer to shops within a mall or a commercial building complex.

4. Office spaces – These are spaces with required amenities to operate an office from.

5. Building complex – This refers to an entire building complex that can house a number of shops.

6. Warehouses/Godowns – These are large buildings that can serve as storage space for businesses.

7. Vacant land – This is usually a large plot of level ground that can be used for special events.

LEASING MECHANISM

Leasing usually refers to long term renting of a property for commercial activities. It is usually done for a duration of 3 to 10 years, or even more.

LEGAL ASPECTS

The leasing contract requires legal registration for it to be perfectly valid. It can be registered in the local sub-registrar’s office just like any other property.

LEASE REGISTRATION COSTS

Current lease registration costs are as listed below:

	Upto 5 years	Upto 10 years	More than 10 years
Stamp Duty	5% of Annual Rent	6% of Annual Rent	(Avg Annual Rent x 2 ) x 6%
Registration Cost	2% of Annual Rent	2% of Annual Rent	2% of Annual Rent

PROPERTY EVALUATION FACTORS

There are a few factors to help with the evaluation of the commercial property that is to be leased. Not all these factors will be applicable for all types of commercial property. You can consider only those that matter.

1. Road access – Does the property have direct road access? Will it be easy for people to reach the property?

2. Property frontage – What is the width of the property frontage? How much space is allotted in front of the property?

3. Building height – What is the height of the entire building?

4. Parking space – Does the property have allotted parking space? Is the space sufficient?

5. Shape of the space – Is the shape of the allotted space feasible for the designated use?

6. Specific floor – Which floor/level of the mall or building complex is the space located? Is it ideal?

7. Proximity of other commercially feasible activities in the vicinity – Are there any other commercial places in the locality? Will there be a lot of people frequenting the area?

8. Amount of display space – If it’s a showroom, how much space is available to display the products?

9. Carpet area – What is the actual carpet area of the property when compared to the total area?

10. Maintenance cost – How much will the regular maintenance cost? This includes amenities such as water, electricity, elevator, fuel for the generator, security services, etc.

11. Nature of the property – In what stage is the property currently in? If the building only has a shell structure, who will be responsible for developing it?

12. Number of beams within the property – If it’s a large showroom space, how many beams are there within the building?

13. Internal height of the property – How high are the individual rooms or spaces?

EVALUATING FACTORS FOR THE LEASING DEAL

The lease agreement has to be formulated with great care and preferably with legal assistance. Here are some factors that have to be considered when finalizing the leasing deal.

1. Lease term period – How long will the contract last for?

2. Service tax – Has the service tax been included in the lease amount or has it been left out? Who will be responsible for paying it?

3. Termination conditions – On what basis can the deal be terminated? What are the steps to be followed for termination of the deal?

4. Rent-free period – Some high-cost leases allow the lessee to stay rent-free for a certain period. Does the deal include a rent-free period? If yes, when do they have to start paying the rent?

5. Lease deposit amount – What is the advance payment on the lease to be paid by the lessee?

6. Maintenance – Who will bear the cost of regular maintenance of the property? Who will be responsible for maintaining the property?

7. Property alterations – If the property has to be altered to suit the lessee’s commercial activity, who will bear the responsibility of altering the structure and/or setting up the interiors?

8. Frequency of rent increase – How often will the rent be increased? Will it be annually or bi-annually?

9. Rent increase percentage – By what percentage will the rent be increased every time?

COMMERCIAL PROPERTY CLASSIFICATION FOR LEASING

A more broader classification of commercial property for leasing purpose can be done as follows:

1. With building already constructed – This type of commercial property is one where the construction is fully complete. It is usually used as office space, showroom space, stand alone shops, shops in a mall or a building complex.

2. With building constructed as per the client’s need – In this case, only the basic structure (permanent or temporary) is put up and it can be built upon based on what the lessee needs. This type of property is suitable for warehouses, godowns, restaurants, etc.

3. Vacant land – This refers to a large portion of land that is leased out as a whole. The lessee might construct a permanent or temporary structure on the land according to their business need. Once the lease period comes to an end, the lessee will either have to restore the place and move out, or renew the lease for a prolonged period.

There are a lot more factors to be evaluated in choosing a commercial property suitable for leasing, when compared to a residential property. It’s best to get the expert opinion of a real estate consultant before you finalize a commercial leasing deal. They might even be able to help you negotiate and get you a better deal!

TYPES OF PROPERTY INVESTMENTS IN KERALA - 3feet.in

TYPES OF PROPERTY INVESTMENTS IN KERALA

Property investments in Kerala are on the rise due to favorable conditions in the real estate market scenario. If you are interested in purchasing property as an investment, you will first have to define your objectives.

There are two main objectives for real estate investments:

1. Capital appreciation – The increase of your property’s value over time.

2. Income generation – The income you earn by renting or leasing out your property.

If you want to attain your property investment objectives, one important factor you have to consider is the time frame of your investment.

The time between the purchase of your property and its sale can be categorized as:

·         1 to 2 years

·         3 to 5 years

·         More than 5 years

If your investment is going to be for just 1 or 2 years, it will not be sufficient to satisfy your objective. This time frame is applicable only in a market where lot of speculation (gambling, trading, etc) is happening. Such a market scenario might happen just once in 5 or 10 years and no one can predict it. So, the success of your investment will be hugely dependent on the overall economic scenario of the country.

When you invest for 3 to 5 years, you will get moderate appreciation for your investment. But the best option is to invest for more than 5 years. That way, you are more likely to get better appreciation for your investment and achieve your investment objectives.

Once you’ve decided on your investment objectives, and the approximate time frame of your investment, you will have to decide on the type of property you will be investing in.

10 Types of Property Investments in Kerala

There are a variety of properties available for investment in Kerala. Take a look at the different types outlined below and narrow down the ones you are interested in.

1. Residential Plot

Residential plots are usually smaller portions of land that are ideal for people to build a house where they can live. The advantage of buying a residential plot is that it’s easy to liquidate when the time comes. The disadvantage is that it comes at a higher price per unit of land when compared to other properties.

2. House on a Plot

In this option, an independent house is already built on an existing portion of land. You will be purchasing both the land and the house as a single unit. The advantage of buying a house on a plot is that there’s a high potential to live there, or rent it out. The disadvantage is that the use of the property is already decided, so there is less liquidity when compared to a residential plot.

3. Villa in a Villa Project

The recent trend in the real estate market is villas in a gated community with common amenities. The advantage of buying a villa is that there is an already existing community, which translates to better livability. The disadvantage is that a villa comes at a higher unit price when compared compared to an independent house.

4. Apartments

Apartments are a dime a dozen, and range from small apartment buildings to mega complexes with multiple blocks. The advantage of purchasing an apartment is that they are easy to buy. The disadvantage is that the resale options are limited – it can only be sold to another individual who wants to live in it.

5. Larger Portions of Land

This option refers to bigger plots of land that are suitable for constructing two or more houses. The investment cost will vary based on the location of the property – it’s usually higher within city limits, and lower in the suburban areas. The advantage of buying larger portions of land is that it comes at a lower price for each unit of land. The disadvantage is that it will be difficult to liquidate, unless it’s divided into smaller units.

6. Plantations or Farmlands

Plantations and farm lands occupy a large percentage of land in Kerala. The advantage of buying a plantation or farm land is that there is a high potential for regular income. The disadvantage is that there is very low liquidity.

7. Commercial Property

Commercial property can refer to a standalone shop, a shop inside a building complex, or an entire shopping complex. The advantage of buying commercial property is that it has the potential to generate a regular income. The disadvantage is that if the property does not get any takers who are ready to pay rent, the property itself becomes almost unsellable.

8. Waterfront Plots

Waterfront plots are areas of land that lie on the banks of a water body. The advantage of buying a waterfront plot is that there is a limited availability of such plots, so they are always a precious asset. The disadvantage is that they are higher priced, so the initial investment will be quite huge.

9. Holiday Homes

A holiday home is basically a second home with full amenities in a holiday destination. The advantage of buying a holiday home is that the availability is limited, and hence they will always be considered a valuable asset. The disadvantage is that if you want to sell it, there will be less takers when compared to other standard properties.

10. Timeshare Projects

A timeshare project is one where the buyer will retain the ownership rights, but the property will be leased out to another person who runs it. The leasee will have to pay the owner the agreed rent, and also a percentage of the profit generated from the property. An agreement can also be made where the buyer can visit the place during the year, and stay free of cost for a fixed number of days.

Timeshare projects are usually more common in popular tourist destinations like Munnar and Wayanad. The advantage of buying into a timeshare project is that it has a high income generation potential. The disadvantage is that the income generation potential is dependent on the overall attractiveness of the resort with respect to hygiene, service, food, facilities, etc.

We hope this article has given you a clearer picture of the different types of property investments in Kerala. Each of them have their own advantages and disadvantages, so you will have to take a final call based on your requirements and your budget.