Legal Terms in Real Estate -Terminologies & Words(A4)

 





A4. Property Laws in Real Estate

 

26. The Lease and Rent Control Laws

27. Building Codes

28. Zoning Laws

29. The Real Estate (Regulation and Development) Act, 2016 (RERA)

30. The Benami Transactions (Prohibition) Act, 1988

31. The Indian Registration Act, 1908

32. Transfer of Property Act, 1882

33. Land Acquisition Act, 2013

34. The Indian Stamp Act, 1899


26. The Lease and Rent Control Laws

Lease and Rent Control Laws aim to protect the rights of tenants and landlords by regulating the rules of letting out a property for rent, evictions, and rent increments as specified in the rental agreements. Each state has its own rent control laws which are based on the Rent Control Act, 1948 which was passed by the Govt of India.

27. Building Codes

Regulations that set standards for construction, design, and safety of buildings. They ensure that buildings are safe for occupancy and meet certain quality benchmarks.

28. Zoning Laws

Local municipal authorities and councils regulate the development and use of real estate in a particular area with the help of Zoning Laws. Zoning laws limit industrial or commercial zones ensuring manufacturing and other types of businesses are at a safe distance from residential localities.

29. The Real Estate (Regulation and Development) Act, 2016 (RERA)

The RERA Act was introduced in 2016 to promote transparency, accountability, and efficiency in the real estate sector. It protects the interests of homebuyers and also promotes real estate investment.

30. The Benami Transactions (Prohibition) Act, 1988

The term “Benami” translates to “no name” which means a Benami property is purchased in a different name other than the actual buyer. This Benami Transactions (Prohibitions) Act prohibits buying property in the name of someone other than the buyer, with the intent to hide the real owner’s identity, often for fraudulent purposes. 

31. The Indian Registration Act, 1908

The Indian Registration Act mandates the registration of certain documents, including those related to property transactions, to ensure the conservation of evidence, public documents, and prevent fraud.

32. Transfer of Property Act, 1882

This act details the rules and regulations regarding the transfer of property in India. Transfer of Property Act defines how a rightful owner can transfer his movable and immovable property to another.

33. Land Acquisition Act, 2013

The “Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013” is a law that regulates the process of land acquisition by the Government for infrastructural development while ensuring that the landowners receive adequate compensation.

34. The Indian Stamp Act, 1899

This act deals with the payment of stamp duty in the country, which is essential for the legal validation of any property-related document. The primary objective of this Indian Stamp Act was to general money for the Government 




Courtesy: ASSURE SHIFT





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