The Petitioner is an owner and landlord of a building situated at Mumbai ("said building"). The contesting Respondents were various tenants of the said building.
Real estate market is currently experiencing an unprecedented rate of growth, largely driven by the rapid development of surging economies like India and China.
It has been common practice in India for family members to acquire properties in joint names, particularly residential properties, despite only one of the transferees making the payment towards consideration or cost for acquisition of such flat.
The query regarding the feasibility of a lease and leave and license is often answered through commercial feasibility in terms of the applicable stamp duty, particularly in Maharashtra.
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