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129 Answered
Your bank guarantee should be sufficient to cover the construction cost of the area of the existing owners/members in the proposed building. If it meets this value, then you may consider it as sufficient/adequate.
I own a piece of land in Thane jointly with my three brothers. Now we have approached a builder to build a residential property on that land. We have received two offers from the builder. One, he will pay us 40-60 lakhs and 4 2BHK flats. Two he will give us a lumpsum amount of 2.5 crores. Will the proceeds from this development be taxable, and if so what will be the tax rate in each scenario?
We are a family of 3 siblings and a mom, our dad passed away. Me and my one sister are married. We own a property that is a one storeyed building, now we wish to take a loan on the same and build another one for my unmarried sister. But the bank says that we cannot take the loan as my mom is above 65+ years of age. What is the procedure to transfer the house in my unmarried sister's name?
Is there any way to estimate the rent that will be provided to the existing tenants of a society under redevelopment for the period of redevelopment? Does there need to be a minimum corpus?
Is there a mandatory amount of square footage that a builder must give to the society? Also, what is the quantum of extra area that the builder gets ?
How long does it conventionally take to complete the construction of a 12-storey building?
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