Frequently Asked Questions

After the registration is done and partition is effected, each individual buyer will be issued a certificate of sub-title by REGKO. The name of sale deed and instrument of partition which will be registered and stamped documents itself will be the primary proof of fractional ownership.
In order to effectively and smoothly carry out the transactions and management of fractional ownership, it is necessary to have a 'Principal custodian' who will hold the title of the property on behalf of all the buyers. The Nidhi company is such a 'principal custodian' which will hold the title so that every buyers fractional share is secured and is under the custodian.
The custodian may or may not remain fixed. In accordance with changes in legal and compliance structure or non-performance, the custodian may be changed.
You can get in touch with your CA to know about Tax benifits related to provisions of IT act for immovable property
Property Managers can be changed in case of non-performance and the users will have the right to set a vote in motion and vote on the same to remove or change the PM.
To remove entities such a custodian or property manager due to non-performance, a vote can be set in motion by the user population on REALX. Further with a majority vote of users to remove or change an entity, the entity can be removed or replaced.
The property managers will be approved by REALX based on a rigorous assesment. The custodian will further appoint the property manager for individual properties based on 'best bid' policy.
The Principal Custodian may perform or appoint some external entity to perform all or some of the following key functions:
  • Hold the title of the property
  • Appoint property managers
  • Maintenance and safekeeping of the property
  • Maintenance of the accounts of the property
  • Arrange to collect or get collected the benefits accruing on the property through facilities provided by REALX platform
By default, every user is signed up as a buyer. The primary use of the platform is to buy rights in a property and hence every user has to sign up a buyer. You can switch the role to seller once you are onboarded as a buyer.
No. The instrument of partition will define each buyers individual share and all rights of buyer will be limited only to the extent of their investment. So no co-owner will ne able to claim any share except their own.