Sadavir Ramesh
Questions Asked
Regulations
#fsi#policy#applicable#mumbai#city
What is Mhada FSI policy applicable in Mumbai city? Is it true we can get more than 2 FSI there?
What is Mhada FSI policy applicable in Mumbai city? Is it true we can get more than 2 FSI there?
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Answered on November 08, 2017
The MHADA Buildings as per DCR 33(5) eligible for aditional FSI. Recently the Govt of Maharastra brought in Revised Noms on 3rd july 2017 wherein the Fsi is Proposeed to be up to 4.00 for Plots more than 4000 smts and on roads more than 18mtrs. And up to 3.00 for plots less than 4000 smts.
Society Matters
#mumbai
Our co.op.hsg.soc. in Mumbai needs to get a lift replaced. Where should we be using the funds for this purpose? Would it be from the reserve fund or only by making the members contribute towards this? Please advise.
Our co.op.hsg.soc. in Mumbai needs to get a lift replaced. Where should we be using the funds for this purpose? Would it be from the reserve fund or only by making the members contribute towards this? Please advise.
Answered on November 08, 2017
Since it is a major repair fund, sinking fund can be utilized for the same. Deficit, if any can be fulfilled by utilizing reserve funds and/ or asking members to contribute for the same
Answered on November 08, 2017
First and foremost, get a resolution passed in the general body meeting to that effect and then follow the steps as mentioned(1) The name of a society may be changed under Section 15 so however that it does not refer to any caste or religious denomination and is not inconsistent with the objects of society.
(2) Every change in the name of a society shall be made by an amendment of its by- l...
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RERA
#agreement
In ongoing projects, the agreement with purchaser should be prepared as per MOFA or RERA?
In ongoing projects, the agreement with purchaser should be prepared as per MOFA or RERA?
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
as per RERA with effect from 1st May, 2017
Legal
#property#flat#aware#vat#maharashtra
I bought a property in Badlapur west. The built up area of this flat is 1495 gqft. I am not aware of the recent developments in the service tax and VAT imposed by the Maharashtra state government. Can you advise me about what the amount of the stamp duty and registration would de?
I bought a property in Badlapur west. The built up area of this flat is 1495 gqft. I am not aware of the recent developments in the service tax and VAT imposed by the Maharashtra state government. Can you advise me about what the amount of the stamp duty and registration would de?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The Service Tax amount and VAT would depend on the market value of the flat/ agreement value and similarly the stamp duty would also depend on the ready reckoner value of the flat at the time of such purchase or the agreement value whichever is higher. Registration Fees is 1% of market value of flat or Rs.30,000/- whichever is lower.
Legal
#flat#constructed#rented#sell
I have a flat which is co-owned by my wife and currently we are living in the same house. Along with that house, we also have a constructed house which is solely owned by me and I have rented out that house. I am intending to sell that house, so is there a way by which I can claim Gain Tax if I reinvest to buy a second flat in my name?
I have a flat which is co-owned by my wife and currently we are living in the same house. Along with that house, we also have a constructed house which is solely owned by me and I have rented out that house. I am intending to sell that house, so is there a way by which I can claim Gain Tax if I reinvest to buy a second flat in my name?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If you reinvest the sale proceeds within one year from the date of sale of your property in another residential property, then no capital gains will be attracted on the amount received by you on the sale of your house.
Legal
#land#water
Are there laws that support converting farming land to industries and buildings? What is the reason for this law as it only created lower ground water level and increases expenses?
Are there laws that support converting farming land to industries and buildings? What is the reason for this law as it only created lower ground water level and increases expenses?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Each state has different development control rules and as such the conversion of agrictural land to commercial/ industrial user would depend on such State laws. At time such laws are relevant as in sum cases agricultural lands are not being used for agricultural purposes for several reasons.
Legal
#bank#deposit#nominee#death#money
My father and I have a bank account jointly where we maintain fixed deposit and he has updated me as nominee. Later, incase of my father's death will I be the only person to receive money or my siblings will also get?
My father and I have a bank account jointly where we maintain fixed deposit and he has updated me as nominee. Later, incase of my father's death will I be the only person to receive money or my siblings will also get?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You will be entiteld to withdraw the monies lying in the fixed dpeosit of your father on the basis of the nomination made by him, however, if your father has died intestate then all his legal heirs will be entiteld to claim thier respective shares in the estate of the father which would include the fixed depsoits made by him.
Legal
#reside#mumbai#ancestral#property
My sister and I reside in Mumbai, she is already married.We want to know the claims in our ancestral property. My sister is asking for equal rights, but I don’t wish to give her an equal share. Is she legally correct to ask for an equal share. Also, am I legally allowed to give her a lesser share?
My sister and I reside in Mumbai, she is already married.We want to know the claims in our ancestral property. My sister is asking for equal rights, but I don’t wish to give her an equal share. Is she legally correct to ask for an equal share. Also, am I legally allowed to give her a lesser share?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If you are Hindus, then your sister would have equal share in the ancestral property and you are not entitled to dispute the same. The fact that your sister is married is of no consequence in law anymore.
Legal
#villa#hyderabad#buying#attorney#buyer
I live in Houston, Texas. I own a villa in Hyderabad, someone is interested in buying it. Can I give the power of attorney to my mother and go ahead with this sale? The buyer is concerned about the validity of the agreement. I won’t be able to be there physically for a long time. What do I do about it?
I live in Houston, Texas. I own a villa in Hyderabad, someone is interested in buying it. Can I give the power of attorney to my mother and go ahead with this sale? The buyer is concerned about the validity of the agreement. I won’t be able to be there physically for a long time. What do I do about it?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Yes, you can give a POA to your mother to conclude the sale on your behalf. The POA can be executed by you before the Indian Embassy in USA and the same can then be forwarded to Hyderabad for adjudication and payment of stamp duty and thereupon your mother can utilise the same for concluding the sale. The buyer would get good title if the transaction is concluded by your mother on your behalf a...
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Legal
#gift#mumbai#applicable
Is there any tax on the gift deed in Mumbai? What is the rate if it is applicable?
Is there any tax on the gift deed in Mumbai? What is the rate if it is applicable?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Stamp duty @ 2% of market value of the property is applicable in most cases pertaining to a Gift Deed, however in case of some close blood relatives, the same has been amended to Rs.500/- only.
Legal
#commercial#property#divided
We are a family of 7 brothers and own a commercial property. The ground floor has been sold to someone, and we own the rest of the floors. When any of these other floors are sold, how will the proceeds be divided among the 7 brothers?
We are a family of 7 brothers and own a commercial property. The ground floor has been sold to someone, and we own the rest of the floors. When any of these other floors are sold, how will the proceeds be divided among the 7 brothers?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Depends on who owns the property and from whose income was the same acquired. If it was acquired from the joint family income or by the brothers jointly, then the sale proceeds can be shared by all brothers equally.
Legal
#registration#documents
What are the particular steps to follow for the registration of documents?
What are the particular steps to follow for the registration of documents?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Stamp duty has to be paid on the document before registration, appointment is required to be sought with the office of the Sub-registrar and then the document is required to be lodged for registration. All parties executing the document have to attend the office of the Sub-Registrar to admit execution of the document, failing which the registration remains incomplete.
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