Sadru Mehta
Questions Asked
Taxes & Duties
#ancestral#property#mumbai#co-owner#loan
I want to renovate my ancestral property. This property is in my father's name and is in Mumbai. I want to know the most cost-effective way to become the co-owner of this property and claim income tax deduction for the loan borrowed for renovation?
I want to renovate my ancestral property. This property is in my father's name and is in Mumbai. I want to know the most cost-effective way to become the co-owner of this property and claim income tax deduction for the loan borrowed for renovation?
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Answered on November 08, 2017
If the said property is your ancestral property then the same is a property of HUF and you are co-owner to the same.
However, if it is property of your father in his individual capacity then the most cost effective way is to make a gift deed and thereby transfer partial ownership as the gift so received will not taxable under the provisions of the Income Tax Act. The Stamp duty and registr...
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Purchase & Sales
#flat#carpet#builtup
I am looking to buy a flat, are there any tips on how to compare the different flat rates in the same area? Should I differentiate on lumpsum, carpet or builtup?
I am looking to buy a flat, are there any tips on how to compare the different flat rates in the same area? Should I differentiate on lumpsum, carpet or builtup?
Answered on November 08, 2017
Comparison should be on following facts: 1. Type of building (e.g. Complex / stand alone / High or low rise); 2. Amenities and specifiactions; 3. Completion time and 4. On carpet area basis 5. Developer reputation and projects completed by him in the recent past
Society Matters
#flat#registered#co-owner
I have flat which is already registered under my name. How do I add my spouse's name as a co-owner of the flat?
I have flat which is already registered under my name. How do I add my spouse's name as a co-owner of the flat?
Answered on November 08, 2017
It is assumed that you want to add your wife's name as an equal owner in the property. If yes, then you can gift undivided share of a flat to your spouse by executing a gift deed to the extent of 50% and make relevant applications to the society for adding her name in the society records
RERA
#ads#advertisement
Does advertisement include solicitation by emails and sms? Is issuance of prospectus considered to be a case of ‘advertisement’?
Does advertisement include solicitation by emails and sms? Is issuance of prospectus considered to be a case of ‘advertisement’?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) As per section 2(b), which defines ‘advertisement’, any medium adopted in soliciting for sale would be covered under the said definition, including sms and emails. Prospectus, which is intended for sale of apartment in real estate project, will also be covered.
Legal
#property#registered#attorney#poa
I have decided to buy a property that is registered with a couple and their daughter who is married and settled in USA. They have taken the power of attorney from her and are planning to do the sale. I want to ask if there will be any problem regarding this sale with the POA and if it is legal?
I have decided to buy a property that is registered with a couple and their daughter who is married and settled in USA. They have taken the power of attorney from her and are planning to do the sale. I want to ask if there will be any problem regarding this sale with the POA and if it is legal?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
A Power of Attorney if lawfully executed and registered as required under law and registered can be lawfully used for transfer of the property and any such transfer on the basis of such Power of Attorney would give good title to the purchaser.
Legal
#impact#delhi#process#property
I am planning to get an Australian citizenship, for which I would have to surrender my Indian passport for the same. Will this have any impact in my properties in Delhi? Is there any documentation for this process? and more importantly, my family would also have an Australian citizenship, so will they be able to use the property?
I am planning to get an Australian citizenship, for which I would have to surrender my Indian passport for the same. Will this have any impact in my properties in Delhi? Is there any documentation for this process? and more importantly, my family would also have an Australian citizenship, so will they be able to use the property?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
It would have no difference on your title to the properties as you would be entitled to retain the same being a Person of Indian Origin and also since you acquired the same when you were Indian citizen.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
A document purporting to transfer etc., an immoveable property of value above Rs.100/- is required to be compulsorily registered, failing which such document is not admissible in evidence in any proceedings.
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