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Property

FERA

Welcome to our lesson on the Foreign Exchange Regulation Act (FERA) of 1973. This act was put in place to regulate various financial transactions related to foreign exchange, securities, and the import/export of currency. It also addresses the acquisition of immovable property by foreigners. It is important to note that under Section 31 (1) of FERA, foreign corporations that are not incorporated in India must obtain permission from the Reserve Bank of India (RBI) before acquiring, holding, transferring, or disposing of any immovable property in India, except for a lease of up to five years.

Equity linked mortgage

A mortgage is a financial agreement in which the borrower pledges their property as collateral in exchange for a loan from the lender. In such a mortgage, the interest on th...

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Land assembly

As an experienced finance professional, it is crucial to understand the concept of consolidation of land. This involves the merging of multiple parcels of land for potential...

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Renewal

In contrast to the concept of repair, reconstruction refers to the process of rebuilding the complete meaning of a topic rather than just a particular aspect. It involves a ...

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Completion certificate/statement

In the world of finance, a conveyance statement is a document created by solicitors who represent both the buyer and seller in a property transaction. It outlines all paymen...

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