Legal Aspects in Real Estate
Objective of this chapter
• This chapter gives you an insight into the various laws
governing real estate transactions in ...
Importance of the legal aspects
•
•
•
•

Avoid property disputes
Avoid property demolition
Solve ownership issues
Avoid un...
Relevant laws in real estate: Central Acts
Transfer of Property Act, 1882

Indian Contract Act, 1872
Essential Elements of...
Relevant laws in real estate: Central Acts
Other laws
– Registration Act, 1908
– Specific Relief Act, 1963
– Urban Land (C...
Assignments
1. Read up and analyse the key points of Registration Act and
Land Acquisition Act.
2. What are the legal reme...
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F-RE-04

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F-RE-04

  1. 1. Legal Aspects in Real Estate
  2. 2. Objective of this chapter • This chapter gives you an insight into the various laws governing real estate transactions in India. A greater knowledge of these laws would help you in ensuring safer and better transactions in the future. Trainings by Vidya Bhagwat
  3. 3. Importance of the legal aspects • • • • Avoid property disputes Avoid property demolition Solve ownership issues Avoid unexpected impediments leading to loss of property appreciation Trainings by Vidya Bhagwat
  4. 4. Relevant laws in real estate: Central Acts Transfer of Property Act, 1882 Indian Contract Act, 1872 Essential Elements of a Valid Contract are – Proper offer and proper acceptance – Lawful consideration – Competent to contract or capacity – Free Consent – Lawful Object and Agreement – Agreement not declared void or illegal – Intention To Create Legal Relationships – Certainty, Possibility of Performance Trainings by Vidya Bhagwat – Legal Formalities – By surety
  5. 5. Relevant laws in real estate: Central Acts Other laws – Registration Act, 1908 – Specific Relief Act, 1963 – Urban Land (Ceiling & Regulation) Act, 1976 – Land Acquisition Act, 1894 – Indian Evidence Act, 1872 State Acts: – Rent Control Act – Ownership of Flats Act Trainings by Vidya Bhagwat – Land Revenue Code – Regional and Town Planning Act
  6. 6. Assignments 1. Read up and analyse the key points of Registration Act and Land Acquisition Act. 2. What are the legal remedies available to buyer of a property? 3. What are the responsibilities of a builder towards a buyer? Trainings by Vidya Bhagwat

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