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Over the years, Mumbai has witnessed a sky-rocketing increase in its real estate prices, with the growing two crore+ population and limited land availability being some of its primary reasons. Owning a piece of land in India’s commercial capital is a privilege for only the niche segments. This has led to the satellite towns around the city following under the MMR bracket, capitalising on the situation, with top developers and buyers making a heyday. Not only do these cities offer affordable housing, but they are more spacious as well. Cities like Thane, Navi Mumbai, and Panvel have become potential hotspots for the corporate industries, with top MNCs setting up their operations. 

One of the most crucial activities performed by an architect and interior designer, space planning, is an extensive study of using space in real estate properties. It understands the purpose of capacity according to the end user's specific needs. One of its primary functions is effectively utilising floor space with minimum wastage, which can help the well-being and productivity of the residents in a particular area.

The real estate market of India is estimated to grow to USD 1 trillion by the year 2030. India is also on its way to becoming the world’s most populous country. It is natural that the housing and residential real estate market is booming and builders and developers are trying to keep pace with the demand. With such phenomenal growth, however, comes concerns about consumer protection and this can be ensured only by a robust legal framework.

In layman’s words, a property dispute is a legal discourse concerning properties in India, with the number of cases in the court currently being sizeable. Over an estimated 66% of the matters in court on the above subject are pending to be solved. Given our 1.4+ billion population, the availability of land and the strings attached to it pose a significant challenge to the judicial system. The parties in contention include the buyer, seller, co-owners, and legal heirs.

Known for its rich culture and traditions, India is a family-oriented country, with children continuing to live with their parents even after turning adults, which may be surprising for many people, especially those living in the west. Nevertheless, we take great pride in our heritage and will continue to do so. Another aspect of the traditional Indian household is the subject of inheritance, best described as a symbol of the lineage that transfers rights such as property, assets, and titles to another individual on the holder's death. For example, after their father’s demise, the son or daughter can legally claim ownership over their ancestral property. However, this may not be necessary in all cases, something we will walk through in the following blog. 

The real estate space is one of the fastest-growing globally, with a high demand for innovative technology solutions to meet the needs of consumers. Chatbots are rapidly becoming a popular trend in the real estate industry, and for a good reason. Chatbots are artificial intelligence software programs that can simulate a conversation with human beings. They can be deployed on messaging platforms, websites, and mobile apps, allowing businesses to communicate with customers automatically. 

One of the primary documents, the sale deed, serves as proof of transfer of ownership during a real estate transaction from the seller to the buyer. The paperwork requires the signature of both parties, with the presence of at least two witnesses. The next step involves registering the property at the sub registrar’s office under the 1906 Registration Act. Post the completion of the discussed formalities is only when the buyer is the rightful owner of the property in the eyes of the law, earning them the following rights.

Buying a house involves several steps, especially in a saving economy like ours. While the generic requirements of a bedroom, hall, and kitchen remain, there needs to be a designated area for a Pooja room, given the religious and spiritual nature of us Indians. It is no secret the role Vastu plays when deciding our property layouts. Therefore, it's easy to imagine its contribution while setting up the space for the place of worship. 

One of the most important aspects of managing the capital gains from selling an inherited property is availing exemptions under Section 54 by investing in a new property. You may, however, first need to understand the basics of inheritance laws in the country and learn more about your rights. Here is an overview of the difference between ancestral property and inherited property to get you started.