Wednesday, 12 March 2014

SOME TIPS ON REAL ESTATE INVESTMENTS


The real estate investment has provided many investors with positive cash flow, tax benefits and satisfaction of making an: investment in a tangible asset. However, like in any other investment, there are many intricacies and trends in the market that need to be understood for peaceful possession and enjoyment of the property.There are a large number of investors who invest their hard earned money without a thorough examination of the documents and the credibility of the vendor and thereby land themselves into problems after their investment.Therefore, it is necessary to take some precautions before investment.

Investment in property carries with it a great potential for creating wealth and it requires taking some potentially difficult decisions. Reinvestment in the property and time management all needs careful consideration.

Property investments can be the shining lights in your personal or business financial portfolio.Most of successful investors have free and clear properties. You should aim to reduce your debt as soon as you can by reinvesting your cash back into your property mortgage payments which in turn raises your net worth. Do your homework. Don't do anything alone. Work with professionals or proven successful investors to avoid finding yourself in damage control.

By aligning yourself with the right professional you can avoid the likely common mistakes so that you can ensure an excellent return on your investment.Cash flow,capital appreciation, tax benefits, and pride of ownership are just some of the things that need to be addressed before you make an investment.

An experienced real estate professional will render very useful service in evaluating your needs and in suggesting you suitably. Make sure that you have the right agent.Predicting constant appreciation in the value of the property is extremely difficult if not impossible for the unseasoned investor.Property which eats away cash every month can drain your working capital.This can create stress, frustration and become quite painful.A strain on your cash flow may cause you to sell the investment before the benefits of ownership are ever realized.

Check everything concerning the property under consideration devolution history, rents, payment of taxes, expenses,deposits etc. Ask the tenants about pest problems, structural damage or recurring problems.Don't overlook anything. When investing your hard earned money be sure and use sound business judgment. Protect yourself against the risks that come with investment property.Take insurance cover for your property.The list of documents to be examined and the statutory requirements to be fulfilled can be very many.They may include obtaining Building permits,adherence of zoning laws, building bye-laws, examination of rental and lease deeds, if any, examination of loan documents, scrutiny of title deeds, etc. If you are not trained to look into these documents yourself then it is essential to engage a qualified professional to approve all of these for you and only then you may conclude the deal. But whatever it may be don't attempt to do it alone.

Do comprehensive background checks on any prospective tenants. Previous landlords,employers,financial references,credit and judgments are all extremely important. If there are any questions do thorough research.Drive by their previous residence.A little work upfront can save tremendous problems later.

Charge fair rents,treat your tenants with respect and respond as quickly as possible to their needs. It's a lot less costly in the long run to take care of the little problems before they become big problems.Get letters from tenants confirming the status of tenancy.Make sure their version of the rental or lease agreement corresponds with the sellers interpretation.

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Tuesday, 11 March 2014

INSURING BUILDINGS AGAINST RISK


Insurance is an agreement between two parties, namely the owner of a property (insured) and the insurer (insurance company),whereby the insurance company undertakes to indemnify the owner of the property the financial loss that the owner may suffer in case the property is damaged or destroyed by a cause for which the insurance policy is taken.Insurance is one of the ways to protect buildings against natural losses and vandalism.The types of coverage available include fire, consequential loss, personal property, public liability, casualty,and surety bonds, workers' compensation.The risks are covered only after the premium is paid and the policy liability is limited to the insured sum and for a specified time limit till the policy is kept alive.

In India, an insurance company has come out with a scheme for householders to cover various risks with a single policy protecting the members who permanently reside in the house, including domestic and electrical appliances. Another company covers the possessions against different disasters, including fire, natural accidents, explosion of gas cylinder, bursting of water tanks and pipes,impact damage caused by vehicles, riots, strikes,maliciousacts, burglary and mechanical breakdown of domestic appliances and so on.

Title Insurance Policy:
Under this policy, the policyholder is protected from losses arising from defects in the title. Based on the enquiry the insurance company determines whether the title is insurable.This is the best defence of the title. The company will defend any suit based on an insurable defect and pay claims if the title proves to be defective.

Fire Insurance Policy:
This policy covers against direct loss or damage to the property due to fire. The actual amount, which the insured will receive depends on the actual loss suffered.Full reinstatement can be received only if the property had been adequately insured by payment of appropriate premium.If the building had been underinsured,only proportional sum will be paid.The value of the property is arrived at the reinstatement cost irrespective of any other value. Normally, the value of foundation is excluded.

Sometimes, an old building which is destroyed completely by fire cannot be reinstated in its previous condition due to restriction by changes made in the local municipal laws.In such a case, the insurance company may not compensate the insured of the loss suffered by him on the building cost that is not cleared.If loan is availed while purchasing a property, the mortgagee insists on the insurance cover of the property.

Earlier, the value of personal properties in a house used to be only 25 per cent to 50 per cent of the value of the house. At present, the value of personal properties in a house has increased substantially.

Public Liability Insurance:
This policy covers the damages that may be inflicted on a third party by the act of omission or commission The cost of insurance can be reduced in several ways like accepting higher deductible amount, installing security devices, installing fire alarms, and by comparing various terms and conditions issued by insurance companies.

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Monday, 10 March 2014

REAL ESTATE IS STILL PREFERRED AS A GOOD INVESTMENT OPTION


The real estate sector plays a significant role in India's economy. Almost 5% of the country's gross domestic product(GDP)is contributed by the housing sector. Real estate in India has been characterized by an increasing presence of a large number of public companies, along with the opening up of this sector to foreign direct investment (FDI) and private equity firms. This has increased the discipline and accountability of businesses houses undertaking large-scale real estate developments.Indians have an innate propensity to own homes.This, with rising income levels following India's rapid growth, has resulted in a phenomenal increase in the demand for homes.

The country has started viewing property as a preferred investment option, given that returns are pegged between 11 % and 15%,compared with bank deposits,which seldom offer returns over 10% a year.Prices of homes, therefore, have increased at a steady pace in the past decade.

According to Dun and Bradstreet Corp.,a provider of credit information on businesses and corporations, the total value of real estate development in India was estimated to be around Rs.67,480/- crores, growing at an annual pace of30%.This growth is fuelled by the growth in realty development in organized retail, followed by housing and information technology and information technology-enabled services.

In recent times, real estate has been seeing a plunge in demand with retail shying away from exorbitantly priced spaces or paying high rentals. Reduced consumer spending has also translated into a retail slowdown. Many firms have also decided to relocate from high to lower cost locations, leading to vacancies going up in retail and office space.

Interestingly, a careful look at the performance of the sector reveals that the pace of activity has been shifting to smaller cities. Several reasons could cause this shift. First, speculative investments in real estate, which have been largely confined to the metros, resulted in greater price volatility in these cities.

Secondly, the high price of real estate in large cities has caused a number of offshore companies setting up operations in India to expand into smaller cities, resulting in a substantial increase in demand.

Thirdly,builders and developers have mainly focused on high-end housing projects in large cities. The recent economic slowdown has meant large stock of unsold inventory. They have, therefore, shifted focus on developing projects aimed at medium-income, middle-class households. Lastly, the special economic zone policy has also resulted in a shift of activity from large to smaller cities.

So, where are we heading? The advent of the private sector in real estate and the government's proposal to offer fiscal concessions and creating an enabling environment for housing development have led to rapid growth in private investment in housing, with the emergence of developers mainly in metropolitan centers and other fast-growing towns.The growth has been fuelled by rising business opportunities in new and emerging enterprises, increasing income levels, low interest rates, employment generation and demographic changes.

The real estate market has also been boosted by a proposal to permit 100% FDI in the sector. Also, a significant factor that drove the growth of the housing market was easy availability of bank finance at affordable interest rates.Finally, it is important for policymakers to be vigilant and track the pace and economics driving the evolution of the sector.There should be adequate supervision to prevent reckless credit growth to fund its expansion.

India's favorable demography, low mortgage penetration, falling interest rates and ongoing infrastructure demand will keep the retail real estate downturn from being protracted. The fundamentals of the sector are good and its growth should continue in the foreseeable future.

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Saturday, 8 March 2014

GRAND ARCHITECTURE


Freshness, a wonderful feeling that anybody would prefer to give his or her place of dwelling or work place.The art of planning and construction regenerates the freshness and adds all inspirational qualities that the owner of the construction wants to foster his property with.The types of buildings are broadly classified into residential, commercial,institutional and industrial buildings.

The type of design varies accordingly to suit these purposes.Architecture arises from the crumbled, the rubble. The effect of urbanization has given rise to a constant and ever increasing demand to provide people with residences, shopping areas and recreational spaces. Architecture chronicles and responds to these needs.

The culture and heritage of building architecture in India has had a heady mix of influences both architectural and political.These influences have been astute with a cue to unleash all the pent-up creativity. Multiplicity of styles emerged identifying pioneers and trendsetters.The variations in styles, the mutated combinations and revivals are aimed at a perpetual quest in search of tradition coupled with futuristic look.

"Clunky models fail to be feasible except in specialty constructions. We live in an age of trendy ethnical creations coupled with functional excellence." Ethnically constructed models always carry old world charm, but it depends upon the specific end user."Sloped roof, Mangalore tiles, wooden columns, scallops have always been keeping people interested and we have heard from lot of clients to have red oxide flooring."

Design Inspirations:
Evidently this forms the basis of design. The design should be a source of inspiration for those who view it and an instinctive reflection to the owner; both in concordance with nature.The topographical survey decides the nature and choice of materials used peppered with an interesting and effective interplay of light and color.Of all, the regional climate remains one of the most important concerns to be addressed.Though we choose to closely follow the stylish and grand imprints left by the Westerners, Indian climatic conditions determine the suitability and comfort of the construction.

Building technology, building materials, ecology and the regional climate from the bubbling stew of the tools of built forms. Needs are never static. It varies according to individual perceptions and that is where the architect takes on a role of a graphical artist and psychologist.

Image of Future:
Architects belong to a breed of think tanks who plan, shape and put the concrete wasteland to customized construction.They comprehend space and give a sensory perception to the place through their expression of building forms.The architect's job though has an array of diverse activities including the apt choice of location for construction,geometrical layout,electrical and plumbing designs and so on.

The architect should equally be able to communicate his design, stress the value and significance.Architectural expertise depends in striking a common ground of appreciation between the owner and the creator; whereas specialty constructions become glorifying testimonies to marvel at. The architect is in a position to satisfy the needs of the client as well as that of the architectural community.

The owner who sources the project remains the prime architect. Any construction should ultimately serve the owner, have a good infrastructure, strictly fall within framed norms, has built-in safety measures and support services.This business though has never been the territory of a small operator.

Affluent Society:
On the other hand, there is a healthy demand for construction that keeps growing phenomenally.It is a confluence of so many things. People have multiple employment avenues, which brings in affluence: Affluence breeds to travels abroad and consequently in up gradation of living style.This demand has to be put into effective use, catering exactly to the needs of clients.Modern sophistication should not yield to leave the house in a state of becoming a dusty relic.

Modern with Comforts:
There is also ample space in the city to cope up with the demand the city is not totally exploited. There are spaces to be constructed but developments remain clustered around few places. Residences principally reflect the aesthetics whereas industrial buildings and other places of business inculcate a proper mix of aesthetics and feasibility.

Today's construction is very fast and readymade.It is an Agglomeration of speed and availability.Fixtures, frames and panels are all pre-assembled and brought to the site.Apartments have certain imperative application features such as water and waste management appended with in-house facilities like the gym and a pool.

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Friday, 7 March 2014

DECORATING HOME INTERIOR


Interior Decoration art is not an elusive and impossible one to learn or acquire. And also it is not expensive so that more money is consumed, with some basic and fundamental tips and ideas, one could proceed without any hesitation or fear the great art of decorating. The only requirement possesses a sense of selecting apt colors and placing things among proper structure, design and color combination.

If you are a keen observer, then use your keen sense of observation to cultivate your knowledge of interior decorating and increase your awareness of how color and light, line and form and space and material shape our world. The first step to start any decorating project is taking an objective inventory of what you already own, the way you seasonally review the clothes in your closet, access the furnishings in your rooms.

Whatever the time projection for decorating your home - three months, six months or longer, you need to make a work-in-progress plan and set of series of reasonable goals. This simple written plan will help you remain on track.

Always balance practically with panache. In decorating terms, panache is that personal touch you give the ordinary, by turning it into something uniquely your own. Adding fringed shades to an average chandelier; placing a casual wicker rocker next to a prized antique or daring to paint walls a dramatic fuchsia when everything else is being are a few examples of how to personalize your surroundings with your own dash of panache.And the best thing is that this 'panache' or does not have to be expensive. A vast variety of wall finishes, wall textures, motifs, wallpapers, borders and price ranges can also add beauty and drama to the rooms without breaking your bank account!

Giving change a chance requires patience and trust. Just remember that all change even for the better requires a period of adjustment. Put your mind at ease about a few decorating misconceptions the most common one being that because your home is on the smaller side of your decorating budget is small, you will not able to create a luxurious ambience.

Many people who have small apartments have open and spacious looking interiors because of the right colors of veneers and lamination, along with the right selection of wall paints and fabric colors. And their interiors have achieved a stylish and chic look at a budget which doesn't bum their pockets. They are not deprived of living in a stylish house everyone dreams of.

Try some of these gender friendly tips:

For Master Bedroom:
• Keep floral prints to a minimum.
• Use contemporary versions of a floral rather than a traditional bouquet motif.
• Choose a handsome geometric design.
• Use solid colors and rely on textures instead of pattern to make a statement.
• Select simple tailored treatments for beds and windows.
• Paint or paper the room in deep rich tones rather than in soft pastels.

For Kitchen:
Clean lines, open spaces, neutral colors and maximum accessibility to cabinets and drawers are integral to a kitchen's design. They not only make for a charming, contemporary style kitchen but provide easy access to utensils and worktops for residents who are wheel chair bound.

Living Room Grandeur:
• Cover the frame in a solid and the seat and backcushions in a print on top only. Then you can reverse the cushion for a solid look.
• Using three co-coordinating fabrics, cover arms with one, back and front with second and seat and cushions with the third.
• Try mixing textures, leather and tweed for a casual look.

For dining or occasional chairs:
• Cover the front in a solid or print the back in a check.
•Cover the seat in a solid and wrap the back in a different solid or coordinating stripe.
• Alternate fabrics on individual dining chairs.

Perfect Texture:
Texture in a home is conveyed through the look and feel of the fabric, furniture and finished surfaces of walls and floors. Texture refers to the smoothness or roughness of a material. Furniture texture refers to a variety of materials used in constructing furniture, wood, glass, wrought iron, wicker, upholstery. Surface textures are the materials used to coverfloors and walls: wood, tile, stone, brick, carpet, wall covering, paneling or paint in smooth, rough, glassy or matte finishes.

Using texture to enhance a room's design.
• Rough textures: suggest casualness and informality reduce the appearance of ceiling height or wall expanse. Make color appear darker. Help to disguise dirt and dust.

• Smooth textures: Suggest luxury and formality. Increase the appearance of ceiling height or wall expanse.Reflect more light and make color appear lighter.Reveal dirt and dust. Discover for yourself the satisfaction of decorating your home on your own terms - smartly and simply.

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Thursday, 6 March 2014

COLOR YOUR HOME TO YOUR PERSONALITY


Choice of color had not been a problem for one's own house before fifties of the last century for majority of the house builders.Lime,Yellow,Ochre,' Mulatanimitti had been the natural choice.White was predominant.The colors were used in decoration at the entrance, pooja enclosure and main living room.They were dictated by culture, tradition and availability of the natural coloring materials in the area. Only the very rich thought of varying the colors in their mansions.

The last two decades of the last century saw a rapid growth in the middle class population, which is now around 20% of the households. In many of these households both husband, wife are highly educated and exposed to ad-blitz through media. Many of the households have double income. There is greater amount of disposable income. The house is no longer considered as a roof over the head but a symbol of status and an environment for stylish living.

Commercial banks entry into retail financing in housing, easy installment plans in trade, Credit Card Culture have also helped in conspicuous spending. Interiors are now gaining more attention.

The Paint industry has come up with number of types of paints in variety of shades. A fallout of the hype and competition in Research on colors and their effect on individuals has attracted increased attention.This article is about colors and their influence on individuals to guide homeowners to make a proper choice to add appropriate ambience to their style of living.

Color has an influence on our visual perception, also on our moods. Nowadays a large number of shades are available in the market.It is becoming difficult for an ordinary house builder to choose from such a wide choice.When making color selection, it is necessary to consider all the surfaces of the room as a whole, that is one should consider,color of the floor or carpet, walls,curtains and furniture.They together act on the sensory perception of the individual. The illusion of size and shape of a room can be manipulated by choosing a proper combination of colors for the walls and ceiling.

Colors can be used to express person's individuality.Also can be used to influence to certain extent the mood of a person.Earlier,we used to retire early because of the manual exertion during the course of the work. The advent of electricity and the advancement in lighting science now extends the day light hours beyond nightfall.The period of visual stimulation has expanded from 8 to 10 hours to 16 hours in cities.Therefore, a lot of research is being conducted on the effects of color on human being.According to new research findings, colors have profound effect on our physiological and psychological selves. A study has established that even a blind person can sense colors and react accordingly. Dermo-optic vision or bio-introscopy as this vision is known, helps people recognize colors and shapes.

Some colors are considered warm and some others cool. Those colors, which have red or yellow as base, are considered warm. Others, which have blue or green, are, considered cool.Cool colors appear to recede, adding depth to a room.Warm colors seem to advance and make space feel more closed in. Dark colors placed low in the room will make the room defined.

Dark colors on the ceiling give a feeling of reduced height to the room while light colored ceiling will create an illusion of added height. Light colors reflect and give a feeling of room being more spacious while the dark colors give the opposite feeling. If the intention is to unify the room use colors of same hue for walls, furniture and furnishings. If the intention is to focus interest, use different colors with contrast. So you can choose the colors so as to create, a) Happy, Bright and Cheerful, b) Natural, Open and Airy, c) Sleek, Sophisticated and Stark, or d) Simple, Clean and Restful.

It is wise not to go in for expensive color scheme. In the Indian context, it is desirable to get painting done once in 3 to 4 years. You will recall in olden days it was a custom to do white and Color wash of a house either before Yugadi or before Deepavali every year. Besides giving a fresh look, it used to remove dust settled on walls, remove spiders web, lizards and small household vermin. Cement based paint for the exterior and distempers for the interior should be a wise selection.

Vastu also has many things to say about colors and their effects on human being. White is the color of Sun God and says goes anywhere. Blue is color of Saturn, mentally soothing and physically cooling.Green is the color of mercury. It is for general wellbeing.It lowers hypertension and palpitation. Golden yellow is the color of Jupiter and is associated with warmth. Red is the color of mars.It raises passion, speeds up heartbeat, recommended for the warrior class.Black or gray should be avoided, as it is associated with Yama. It will induce worry and pessimism.

According to scientific research, how the colors work on the human system is described as under Blue has the effect of soothing nerves, lowering blood pressure and palpitation. Blue helps in treating ulcers, disorders related to back pain. Blue also helps treating tumors and cancer.The color has been used by many psychologists in treating psychological problems, such as addictions, digestive disorders, impotency and depression.

Green, it has been found, has a soothing effect on the mind. It induces relaxation and is used to treat cases of depression, anxiety, nervousness.
Yellow, it appears, has great energizing quality and can be used to treat depression. It improves appetite, memory. The color when dark, is supposed to be timulating. One interesting study has found" strong links between street vandalism and sodium vapour lights which are yellow when conditions are favourable as in the case of protest demonstrations. Yellow is also not recommended for rooms where negotiations take place.

Violet has been found to induce peace and balance. It has been used to treat people suffering from migraine.

Black, in lighter shades it has been found to boost self-confidence. But dark colors may induce boredom, depression and sadness. Dark shade is associated with negativity.

Red. This color has been found to induce hyphenated/short bursts of excitement. It stimulates heart activity, brain, respiration and blood pressure. The color supplies short bursts of energetic thinking and has been used in sports activities.The color is recommended by some for those suffering from paralysis. constipation, bladder infections and some skin disorders. Red is also not recommended where meetings try to achieve consensus as it is found to induce aggressive attitude.

Purple is associated with low key affairs and gray is mild and indecisive. One might observe many areas of agreement between Vastu and scientific findings.All paints being sold in the Indian Market are not safe. Many of them contain toxic materials. If you are health conscious and an environmental buff you should choose the paints carefully. For coloring rooms reserved for children, pregnant women and convalescing persons it pays to be extra careful. Some paint materials are known to cause allergies and some other, serious illness. However choosing a safe paint is not easy in India because there are no statutory regulations and many paint manufacturers do not fully declare all the ingredients contained in them. In some advanced countries paints carry environmental safety label when they conform to it.

Paint is made from three basic ingredients: a coloring agent or pigment to provide color, resin or binder to bond the paint into a protective skin, and solvent which keeps it liquid until you brush it on after which it evaporates away as the paint dries. Additionally other ingredients can be added such as preservatives and fungicides.

There are many different types of natural paints available and a suitable product can be found for most applications. Two examples used for centuries are lime washes and silicate paints. One is familiar with lime washes. Repainting is required more frequently than for conventional paints. Silicate paints are based on potassium silicate and they react with the mineral substrate that is painted.This causes the paint to become part of the surface, rather than forming a film over the top of it. This type of paint is very durable and has given effecti ve protection for over a hundred years.

Natural timber can be finished with oil, as an alternative to polyurethane. This will protect the timber while allowing it to breathe.The oil is absorbed into the wood,sealing the pores and stopping water from penetrating. Oils can also harden the wood and give some protection from UV damage.

One should be careful with paints, which contain metallic oxides. Better they are avoided. Substances that are prohibited include mercury, arsenic or selenium or their compounds, and pigments of lead, cadmium, chromium or antimony. The paint must not contain any confirmed human carcinogens or formaldehyde, and must not contain ethylene glycol as an integral part of the paint formulation.Hydrocarbon solvents and aromatics are to be limited at certain levels.


The paint containers must also contain information about inflammability, disposal and cleaning methods. An individual who cares how he spends the money and how he can use it for the family's well being will do well to take note of the influence the colors exert on one's daily life as revealed by the recent advances in research in this particular field and accordingly decide the color scheme of the different spaces of his house.The aim should be to harmonize the home environment with family's personality and healthy living.

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Saturday, 1 March 2014

Article Regarding "Deed of Covenant for Production of Title Deeds"



The transfer of immovable property by way of sales, gift, will, releases etc., presupposes that documents to the title of transferred immovable property are delivered to the transferee on completion of process. This is statutory obligation. Section No. 55(3) of Transfer of Property Act, puts this responsibility on the seller. But the section has a provision, that in case where only a part of the property is sold and the seller retains a part of the property the seller is entitled to retain the original documents, and copies of such documents are delivered to the purchaser.

In case, where the property is transferred to different persons, in different lots, the transferee of greatest portion is entitled to hold the original documents of title and others are provided with copies of such documents.

In the circumstances dealt above, the persons holding the documents, either the seller or one who holds the greatest portion has some responsibilities. He has to keep the documents in safe custody and in good condition. He has to make available the documents forinspection to other buyers, and also furnish the true copies of such documents; extract from such documents, whenever required.


But the cost has to be met by the buyer who needs such inspection or copies, extracts. These responsibilitiesof person who holds the original property are required to be recorded properly.

The document, which records such obligations of safe keeping the documents; producing them for inspection, providing copies, extracts is called “Deed of Covenant for Production of Documents”.

The deed of transfers like sale, gift, will and release may contain such a convenant by the vendor in favour of purchaser or a separate deed may also be executed by the vendor infavour of purchaser (or) after making the same covenants can be incorporated in the sale deed.

In case of the person holding greatest portion, a separate convenant deed about his obligations becomes necessary. A separate deed in favour of each transferee of other portions or a common deed in favour of all other transferees jointly may be executed.

In the deed of transfer of the greatest portion or of higher value an explicit convenant, that, the transferee shall safe keep the documents in good condition, produce for inspection of other transferee and furnish true copies or extract should be included. Similar relevant convenant should also be incorporated in deed of transfer of other transferees.
  

Generally all the portions of the property are not transferred at the same time, and the above suggestedprocedure may not be possible. In such cases, the transferor should give a convenant of production of documents in each of the deeds of transfer and it should further provide that if and when the transferor hands over the documents to any other transferee at a later date he would procure a similar condition from the such transferee. Under a convenant of production of document, the original owner liable indefinitely unless a condition provides that he is no more responsible after he parts with the remaining portion of the property.

Flats are constructed on land and are sold to different purchasers. But the original title deeds for the entire land, will be only one and cannot be given to each and every purchaser. Each purchaser will get original sale deed, which is executed in his name and registered. He will get copies of other original documents and not originals. The original title deeds of the land will be in the custody of the Flat Owners Association. The association has the responsibility of maintaining them safely and make available the documents for inspection by the owners and to provide copies, extracts the promoters or builder shall incorporate such clause in individual sale deeds. The articles of the flat owners association shall contain the clauses relating to safe custody, inspection and making available the copies, extracts of the original documents.

  
Stamp Duty: in case the conditions is including in the transfer deeds itself, no separate stamp duty is payable. If a separate deed is executed, it attracts the stamp duty as that of an agreement depending upon the stamp duty prescribed by the state.

Registration: this deed of convenant does not required the registration, but it is advisable to get it registered.