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Picking the right company structure for your business is as important as any other business-related activity. The right business structure will allow your enterprise to operate efficiently and meet your required business targets. In India, every business must register themselves as part of the mandatory legal compliance.
Let’s try and understand the types of business structures available in India. Here is a list of some of them:
One Person Company (OPC)
Limited Liability Partnership (LLP)
Private Limited Company (PLC)
- Public Limited Company
Property registry is that legal process under which documents related to property are registered with the local authorities under Section 17 of the Registration Act, 1908. As part of the process, home buyers or property owners have to pay a certain portion of the deal value as stamp duty to their respective state governments, along with a 1% registration charge.
In a majority of states, buyers have to visit the sub-registrar’s office to register their properties, some states have launched services to help landlords register their properties online with an aim to offer hassle-free and time-bound services.
It begs mention here that avoiding property registration to save money, may prove to be a costly, as well as risky proposition. In the absence of its registration under the owner’s name in the government’s records, the owner may find it impossible to prove his ownership over the asset in case of any future dispute.