Property can be bought and owned jointly by more than one person and that is what joint ownership means in the simplest term. However, the whole subject can be pretty complicated; specially definitions of their different forms and their implications.

One of the most common reasons for owning property jointly is of course financial. People pool in funds to buy a property. A common example of this is purchase of property by husband and wife. By clubbing their incomes, they are also eligible for a higher loan amount. The couple having separate sources of income may pool in their resources to buy a home.

Let’s start by knowing the different types of co-ownership under the law:

Tenants in Common: When two or more people buy a property but do not specifically mention the share that each has in the property, a ‘tenancy-in-common’ is said to exist. All the co-owners can use the entire...

For most people a property is a building for the family and a store of value rather than an active investment. However, prices and rents especially in metro cities have increased at a very fast pace. As a result, more and more Indians have started considering it as an active part of their investment portfolios.

A lot of people have also started seeing it as a second income. A second income comes in handy to lead a decent and comfortable lifestyle. Retirement is another concern for all, and especially those who are not covered by retirement benefit schemes. In such cases a rental income becomes one such avenue.

Buying a house and renting it out sounds good, but there is more to it. Let’s look at the advantages first:

1. Along with rental income one can also expect appreciation in property’s value over a period of time.
2. Property is comparatively less volatile. But there is a...

With growing wealth, health and longer lifespans, senior citizens are increasingly living an active post-retirement life. They are taking time to indulge in hobbies and passions to live a quiet life among likeminded peer group doing their own thing.
This has naturally created a new niche in the property world – retirement housing projects.

New sociological aspects too are adding to their necessity. The collapse of India’s traditional family support system has given rise to an increased number of nuclear families in the country. In India, more than 60% households are nuclear today and nearly 9% of the population is 60-plus, indicating that the aged are in greater need of support than ever.

However housing for senior citizens is still a fairly new concept in India, and it is only in the last decade or so that developers have focused on building senior citizen-specific projects.

...

It is said that you can take an Indian out of the country, but you can’t take India out of him. So the question invariably arises, sooner or later amongst NRIs – investing in a property in India.

While it would make perfect sense to have a home in the country you grew up in and also profit from the fact that property prices usually appreciate over time, nevertheless there are still a few things to consider before you go ahead and invest.

To start with where in India are you going to buy your property? The best choice unfortunately is not always the city you or your spouse grew up in. Other issues will now govern this decision too. Like where are you most likely to find employment in case you return for good? What about your children? If they are still of school going age, you may need to consider where there will be least disruption in continuing their education.

Then again there...

WHAT TO KEEP IN MIND WHILE BUYING PROPERTY FOR INVESTMENT.

A lot of people now want to benefit from rising property prices or in other words ‘invest’ in real estate as opposed to buying something for primary use.
However, lack of transparency and tight regulations means buyers are taking investment decisions without understanding the pitfalls.

Though you cannot make your real estate investments absolutely risk-free, you must be aware of the possible dangers on the road to making money through property ownership.

At this point it is important to keep in mind that until there are entry barriers and tough rules for developers, it’s your responsibility to verify the builder’s credentials.

Right from projects that exist only on newspaper ads to small developers advertising low-cost properties in small towns and suburbs, this sector is full of landmines.

“The best way to protect...

THINGS TO KEEP IN MIND BEFORE BUYING A PROPERTY
For most Indians buying a property is the biggest investment decision of their lives and will take up most of their life’s savings. Even if you take a home loan, a significant chunk of your monthly salary will go into paying EMIs well into your middle age.

Therefore, it becomes absolutely important to make sure your investment is safe, because it is not usually what it seems. There are fly-by-night operators and financially weak builders who will promise you the moon to take your bookings and then leave you to run from pillar to post.
While big established builders will not risk their long-term reputations, even they sometimes fall for greed and take short cuts during a financial crunch.
According to Mr. Anil Mithas, CMD, Mithas Group, “consumers also need to be aware and responsible in making the right choice, before committing themselves...

MAKE SURE THAT YOUR BUILDER IS GIVING YOU A HOME THAT IS BUILTTOLAST

In a hurry to build more and more projects and multiply turnover, is your builder passing you off an apartment that won’t pass the test of time? In other words, has your hard earned money gone into a shoddily built home that will not even last the best years of your lifetime?

It is not difficult to find glitzy houses and apartments turn into eyesores with seepages and fungus in a matter of months. Recently there have been reports about a balcony falling off in an apartment tower built by a reputed builder. A few years ago, in a township in the outskirts of the capital at Indirapuram, an apartment block caved in due to poor foundation. It is shocking but true that in order to make a quick buck, many builders jeopardize safety by using substandard building material.

Unfortunately, one doesn’t see any effort as yet from...

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