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Can someone advise me on prospects of investing money in Bihar.

This was announced by Urban Development Minister Ashwini Kumar Choubey before a galaxy of scientists and environmentalists on Saturday.

Bihar happens to be the first state in the country to enact the Model Municipal Act for ensuring all-round development of municipal areas.

The state has received a sum of Rs 38 crore from the Central government for effecting solid waste management. A suitable plot of land is being acquired for disposal of solid waste, he said.

Nobel-prize winning author VS Naipaul once described it as the place where "civilisation ends".

But all is not lost, perhaps. We discover five areas where Bihar might consider itself to be ahead of other Indian states.

WOMEN POWER

Bihar is the only state in India to have 50% of places in local municipal bodies reserved for women.

Babita Devi, a thirty-something mother of two children, is one of the beneficiaries of this positive discrimination in a male-dominated society where women have traditionally lived and worked on the margins.

The wife of a small farmer, Mrs Devi defeated 19 contestants to win the civic election in her area and become a municipal commissioner.

Now she works to keep her neighbourhood clean and improve its sanitation.

"For the first time in my life I have got respect and attention from my family and society. It feels good," she says.

The present government in Bihar, run by the Janata Dal (United) and Bharatiya Janata Party (BJP), began the policy of reserving half of local municipal body seats for women.

Today half of the 262,000 elected councillors to local municipalities in the state are women.

Case Fact: Whether the income from a property being purchased by the assessee, the possession whereof being not obtained by him, can be taxed in his hands?

Decision: Held by the Hon`ble Court that as the assessee has not obtained the possession of the property he was not in a position to exercise his rights as an owner, hence the income from the said property is not taxable in his hands.

Will Prabhunath, Lalu or Ram Vilas agree to this or not? Will Sharad Yadav or Nitish organize an all-party meeting for a code of conduct for the behaviours of their members at least in parliament? But why should the people of Bihar adore them? And why should the parliament become safe haven for criminals if they are on warrant? As per the media news Sadhu Yadav, the brother-in-law (Sala) of Lalu Yadav, is escaping an arrest from the police. He was the one who was the main culprit or the hero of yesterday's 'Bihar Show' in parliament.

Q    What is the difference between built up area, super built up area, and carpet area?

A Carpet Area: This is the area of the apartment/building which does not include the area of the walls. Built up Area: This includes the area of the walls also Super Built up Area: This includes the built up area alongwith the area under common spaces such as the lobby, lifts, stairs, etc. This term is therefore only applicable in the case of multi-dwelling units.

Q Who is liable to pay Stamp Duty-the buyer or the seller?

A The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30, of Bombay Stamp Act, 1958 states the liability for payment of stamp duty.

Q Who is liable to pay Stamp Duty-the buyer or the seller?

A The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30, of Bombay Stamp Act, 1958 states the liability for payment of stamp duty.

Q In whose name are the stamps required to be purchased ?

A     The stamps are required to be purchased in the name of any one of the executors to the Instrument.

Q What is meant by the market value of the property and is Stamp Duty payable on the market value of the property or on consideration as stated in the agreement ?

A Market value means the price at which a property could be bought in the open market on the date of execution of such instrument. The Stamp Duty is payable on the agreement value of the property or the market value which ever is higher.

Q Which are the instruments that attract the payment of Stamp Duty ?

A The instruments like Agreement to Sell, Conveyance Deed, Exchange of property, Gift Deed, Partition Deed, Power of Attorney, settlement and Deed and Transfer of lease attract Stamp Duty on market value of the property.

Q Who is the appropriate authority for knowing the market value of the property ?

A The Sub-Registrar of the area, in whose jurisdiction the property is located, is the appropriate authority for knowing the market value of the property.

Q What are the risks associated in buying a flat on Power Of Attorney (POA) basis ?

A Purchasing a flat on a POA basis is not permitted under the law of the land.

Q Is a POA revocable ?

A Yes, a POA can be either revocable or irrevocable, depending on what sort of a POA one has made.

Q What exactly do we mean by a Free Hold flat? What are the advantages and disadvantages,if any?

A. A freehold property (plot or a flat) is one where there is a whole and sole owner(s), ownership is full and unconditional (within the provisions of the laws of the land) and there is no lessor / lessee involved.

Q How to convert a POA flat into a Free Hold one ?

A POA cannot be converted into anything. Leasehold properties of DDA in Delhi can be converted to freehold, as per provisions.

Q How to verify the authenticity of the various documents submitted by the seller of the house, particularly with regard to the possibility that the house has not been sold earlier to a third party ?

A Regarding authenticity of documents, again, you have to take the help of an advocate to verify.

Q Do we have any agency  which can provide a comprehensive service under one roof for hassle free purchase of society flats for its customers ?

A Comprehensive services in the real estate sector are provided us. In our portal http://www.qubrex.com you can find a list of properties with their details.

Q A flat in a Co-op Hsg. Society is to be gifted. What are the legal formalities? What about stamp duty ?

A Gift of an immovable property is considered as a 'transfer' under the provisions of the TOP Act and you have to have the transaction registered through a Gift Deed and pay stamp duty as per provisions of the relevant stamp act depending in which state the property is situated.