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DUTIES OF THE INSURER AND THE INSURED Insurance is a mechanism that provides financial protection to individuals or businesses against certain unforeseen events that may result in significant financial losses. This is achieved through a contractual agreement between the insurer (the entity providing the insurance) and the insured (the entity receiving the insurance coverage). In […]
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PRINCIPLES AND LEGAL CONCEPTS IN RELATION TO INSURANCE OF BUILDINGS Insurance of buildings is an important consideration for property owners, landlords, and tenants. It provides financial protection in the event that the building is damaged or destroyed by a covered event. However, it is important to understand the principles and legal concepts that govern insurance
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OBLIGATIONS AND RIGHTS OF INSURER AND INSURED Insurance is a contract between an insurer and an insured in which the insurer agrees to compensate the insured for losses that may arise from specific perils or events. The insured pays a premium for this protection, and in exchange, the insurer agrees to provide coverage for the
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TYPES OF COMMERCIAL LEASING IN INDIA Commercial leasing refers to the process of renting or leasing out property for commercial purposes, such as for offices, retail stores, warehouses, and factories. In India, commercial leasing has become increasingly popular over the years, as more and more businesses look to set up shop in the country. However,
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DIFFERENCE BETWEEN LEASE AND FINANCE Lease and finance are two different ways to acquire an asset, such as a car, a piece of equipment, or a property. The key difference between lease and finance is in who owns the asset and who is responsible for it. Lease: A lease is a contract between the owner
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CONCEPT OF LEASE AND RIGHTS AND LIABILITIES OF LESSOR AND LESSEE Leasing is a common arrangement in the real estate industry, where a property owner (lessor) rents out their property to a tenant (lessee) for a specified period of time in exchange for rent payments. A lease agreement outlines the terms and conditions of the
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TYPES OF LEASE CLASSIFIED BASED ON RISK A lease is a contract that allows one party to use an asset belonging to another party in exchange for periodic payments. Leasing is a common practice in business and personal transactions, and it can take many forms. One way to classify leases is based on the level
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DETERMINATION OF MARKET RENT AND STANDARD RENT Determining the market rent and standard rent for a property is an essential process in the real estate industry. These terms refer to the rental rate that a landlord can charge for their property and the maximum amount of rent that a landlord can legally charge in a
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REMUNERATIVE RATE OF INTEREST AND ACCUMULATIVE RATE OF INTEREST The remunerative rate of interest is the rate at which interest is calculated on a principal amount over a period of time. It is also known as the nominal rate or the stated rate. For example, if a bank offers a fixed deposit with a remunerative
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CONCEPTS OF GREEN BUILDING Green building is an approach to designing and constructing buildings that minimize their environmental impact while maximizing their efficiency, comfort, and health benefits. It is a way of reducing the use of resources and promoting sustainable practices in construction and maintenance. The following are some of the concepts of green building
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FACTORS INFLUENCING DEMAND AND SUPPLY SCHEDULE IN REAL ESTATE There are several factors that can influence the demand and supply schedule in the real estate market, including: Economic conditions: The state of the economy, such as the overall growth rate, employment rate, and inflation, can have a significant impact on the real estate market. For
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THE REHABILITATION AND RESETTLEMENT ACT, 2013 The Rehabilitation and Resettlement Act, 2013 (R&R Act) is a landmark legislation in India that seeks to protect the rights of people affected by land acquisition or involuntary displacement due to development projects. The Act was enacted in September 2013 and came into effect on January 1, 2014. The
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