Results for #Pune
Legal
#2bhk#flat#pune#possession#loan
We have recently purchased a 2BHK flat in Pune but we are yet to get possession of the flat. Me and my husband, we both are the co-bearers of the loan but we are not the co-owners of the flat. The builder has not yet prepared the sale deed of the flat but the registered agreement of the flat is with the bank. We wanted to know which is the most convenient way by which we can get me as a co-owner of the property before we get the possession of the flat so that we can claim tax benefits under Section 80 C.
We have recently purchased a 2BHK flat in Pune but we are yet to get possession of the flat. Me and my husband, we both are the co-bearers of the loan but we are not the co-owners of the flat. The builder has not yet prepared the sale deed of the flat but the registered agreement of the flat is with the bank. We wanted to know which is the most convenient way by which we can get me as a co-owner of the property before we get the possession of the flat so that we can claim tax benefits under Section 80 C.
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can enter into a tripartite agreement with the developer inter alia in respect of the flat and which tripartite agreement could also be the sale deed which can be executed prior to the completion of the construction of the property or in the alternative an agreement can be made between the husband and wife whereunder the husband transfers a proportionate undivided interest in the flat in fa...
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Legal
#pune#ownership#property
My husband and his brother bought a house in Pune. MY husband, his brother and I live there. My husband and I are planning to move out of India for a period of 5-10 years. My husband and his brother pay 50% each of the emi and will continue to do so even after we move out. will there be any legal issue regarding the ownership about this property in the future?
My husband and his brother bought a house in Pune. MY husband, his brother and I live there. My husband and I are planning to move out of India for a period of 5-10 years. My husband and his brother pay 50% each of the emi and will continue to do so even after we move out. will there be any legal issue regarding the ownership about this property in the future?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No, the status of the property does not change merely because you plan to go abroad for few years.
Taxes & Duties
#flat#mumbai#selling#pune#avoid
We wish to buy a flat in Mumbai after selling our flat in Pune. The flat in Pune is in my mother's name, we want to avoid capital gains, so is it advisable for my mother and father to have a joint ownership? Also, if this happens will it impact the exmeption claimed by my mother on the property?
We wish to buy a flat in Mumbai after selling our flat in Pune. The flat in Pune is in my mother's name, we want to avoid capital gains, so is it advisable for my mother and father to have a joint ownership? Also, if this happens will it impact the exmeption claimed by my mother on the property?
Answered on November 08, 2017
Since the Pune Flat is owned by your mother, capital gains will arise to your mother. By investing in another residential flat exemption u/s. 54 of the Income Tax Act can be claimed upto a value of subsequent purchase.
Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe... (View more)
Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe... (View more)
Legal
#flat#pune#builder#certificate#conveyance
I own a flat in Pimpri-Chinchwad, Pune since 2007. My builder has not taken a completion certificate from PCMC corporation neither has he made a conveyance deed to transfer the flat in my name. The building is almost 3 years old now and when I asked my builder to make the conveyance deed he demanded me to pay him VAT. Please help me with a solution of this issue since I feel harassed by it.
I own a flat in Pimpri-Chinchwad, Pune since 2007. My builder has not taken a completion certificate from PCMC corporation neither has he made a conveyance deed to transfer the flat in my name. The building is almost 3 years old now and when I asked my builder to make the conveyance deed he demanded me to pay him VAT. Please help me with a solution of this issue since I feel harassed by it.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can file a suit alongwith the other purchasers of the premises in the buildng for conveyance of the property or apply to the Competent Authority under the amended provisions of the Mahashtra Ownership of Flats Act for deemed conveyance of the property. In so far the demand of VAT made by the developer, the same appears to be time barred and in any event would depend on the terms of your Agr...
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Society Matters
#flat#underconstruction#pune#paid#maintenance
I purchased a flat in an underconstruction project in Pune and have paid the maintenance for a year already. I have been living in this flat for 7 months, I want to know when my maintenance will start as this project is still underconstruction and might take a couple of years to get completed.
I purchased a flat in an underconstruction project in Pune and have paid the maintenance for a year already. I have been living in this flat for 7 months, I want to know when my maintenance will start as this project is still underconstruction and might take a couple of years to get completed.
Answered on November 08, 2017
Maintenance charges are collected to meet expenses required to maintain property of a Society, it starts from the day building receives Occupation Certficate from the authority or possession whichever, is earlier
