Real Estate Sector Latest News, Updates & Insights – PropertyPistol Blog

The SARFAESI Act was passed on December 17, 2002, to lay out procedures to enable Indian creditors to recover their debts swiftly. The SARFAESI Act allows banks and other financial institutions to immediately sell residential or commercial properties that have been pledged with them to get better loans from borrowers. Before the passage of this Act, businesses had to resort to civil suits in the courts to recover their debts, which was a lengthy and time-consuming procedure.… Read more

When buying or selling immovable property, it’s critical to protect your investment with a legal agreement. However, the type of settlement that is reached may also differ depending on how the events are resolved. In general, there are two types of contracts: the settlement of sale, in which the transfer of property is guaranteed at a future date, and the sale deed, which contains an immediate transfer of property rights. As a result, the covenant is created based on the nature of the customer-vendor relationship.… Read more