Properties in Ayodhya By Pass Bhopal

Private estimates show there are about 3,000 housing societies built on collector’s land in Mumbai. How are these properties different from others? What should a buyer know before investing in such properties? Let us find out.

Sons would be the first one to claim the property in case their fathers pass away, legally speaking. However, the reverse is not true. Fathers are classified as Class-II heirs under the Hindu Succession Act, 1956 — mothers on the other hand happen to be Class-I heirs. This property distribution system is followed only when the son has died intestate, without leaving a will.

The Hindu Succession Act, which lays down rules of succession and inheritance among Hindus in India, says that if a man passes away without leaving a will, his property will be equally distributed among his widow, his children and his mother. Property of a man who is survived by his wife, two children and his own mother, would be equally distributed among the four, as all of these relations constitute Class-I heirs.

The North-South Corridor will be a 29-km stretch between Wazirabad and the Urban Extension Road-II in Dwarka. The project, which will be completed at a cost of Rs 6,000 crore, will be completely funded by the Delhi government. Starting at the Signature Bridge in north Delhi, the corridor will pass through Zakhira, Kirti Nagar, Pankha Road and would end near Dwarka Sector-23, at UER-II.

In Mumbai, one of the most expensive property markets in the country, homebuyers interested in investing in old properties often kept at bay because of the hefty stamp duty they would have to pay. However, the Bombay High Court recently ruled that authorities cannot levy tax based on “historically concluded transactions”. This decision has come as a relief for many buyers and sellers across the city.