Results for #selling
Legal
#government#payment#delayed#certificate#selling
305 people including me bought flats from the government scheme and did a full payment. Now this has been delayed for 12 years on flimsy demand of the third party certificate of no addition or alteration. But the RWA president is refusing to give us a selling deed saying that it is purely a matter between the seller and the buyer. For how long can CGEWHO delay this conveyance deed? Also, can the deed be delayed on such pretext?
305 people including me bought flats from the government scheme and did a full payment. Now this has been delayed for 12 years on flimsy demand of the third party certificate of no addition or alteration. But the RWA president is refusing to give us a selling deed saying that it is purely a matter between the seller and the buyer. For how long can CGEWHO delay this conveyance deed? Also, can the deed be delayed on such pretext?
| 
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If, the flats are sold on ownerhsip basis, then the conveyance cannot be delayed at all and in fact under the provisions of the real estate and regulation act, the conveyance has to be effected immediately once more than 50% of the total units in the building has been sold and such purchasers have made the full payment of the consdieration amount.
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#payment#agreement#avoid#selling
I jointly own a flat along with my brothers. I have done the complete payment for this flat and now I wish to take their name off the agreement to avoid the requirement of their signature when selling the flat. Please suggest a feasible process for the same.
I jointly own a flat along with my brothers. I have done the complete payment for this flat and now I wish to take their name off the agreement to avoid the requirement of their signature when selling the flat. Please suggest a feasible process for the same.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can get the flat transferred to your name by asking your brother to sign a release deed in your favour. In Maharashtra, a Release Deed executed without consideration, is required to be stamped for Rs.200/- only. The Release Deed will however have to be registered.
Legal
#nri#property#loan#selling
I am an NRI, I plan to jointly buy a property along with my father. The funding would be from a loan that I take and from the old property that we would be selling. Is it possible to buy a property in these circumstances? Also, could you guide us on the tax implication?
I am an NRI, I plan to jointly buy a property along with my father. The funding would be from a loan that I take and from the old property that we would be selling. Is it possible to buy a property in these circumstances? Also, could you guide us on the tax implication?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No harm in buying property in the manner suggested by you. There would not be captial tax implications if the property you intend to be is residential property and if all gains from selling of the earlier property are invested in buying of the new residential property .
Legal
#documents#co-operative#society#provide#buyer
What are the documents that a Co-operative Housing Society should provide a buyer with, at the time of selling a house?
What are the documents that a Co-operative Housing Society should provide a buyer with, at the time of selling a house?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No objection certificate inter alia certifying that the member selling the flat has no dues and that the society has no objection for the sale by such member.
Legal
#document#builder#selling#construction#flat
Do we need to seek a NOC document from builder while selling an under construction flat?
Do we need to seek a NOC document from builder while selling an under construction flat?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If the consideration amount under your agreement with the builder has not been fully paid, then you would require an NOC from the Developer before selling the flat.
Legal
#inherited#property#selling#gift#implications
My mother one of the coparceners of an inherited property. She is selling her share and so are the others. She is willing to split her share gains between me and my sister at 50% each. My sister has asked her share in cash. I have asked my mother to buy a house and then either gift it to me or let me inherit it under a will. Can this be done? What are the tax implications related to this? And how long does it ideally take to get a property without any tax issues?
My mother one of the coparceners of an inherited property. She is selling her share and so are the others. She is willing to split her share gains between me and my sister at 50% each. My sister has asked her share in cash. I have asked my mother to buy a house and then either gift it to me or let me inherit it under a will. Can this be done? What are the tax implications related to this? And how long does it ideally take to get a property without any tax issues?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague. However, your mother can surely buy a flat and gift the same to you. You will incur long term or short term captial gains tax in connection with the same when you sell it, depending on the number of years you have held the Flat.
Legal
#flat#buying#selling#remaining#buyer
I own a 1BHK flat in Virar. I am interested in buying just one of the rooms of my neighbour's house (1BHK) which is on sale. The room in question is adjacent to my flat. I am okay with my neighbours selling the remaining 1RK to any other buyer. I wanted to know what's the legal procedure where I can buy just that one adjacent room of the house?
I own a 1BHK flat in Virar. I am interested in buying just one of the rooms of my neighbour's house (1BHK) which is on sale. The room in question is adjacent to my flat. I am okay with my neighbours selling the remaining 1RK to any other buyer. I wanted to know what's the legal procedure where I can buy just that one adjacent room of the house?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Unless the Flat held by your neighbour can be legally segregated from his flat and also subject to the building plans for such flat being duly amended in the records of the competent authorities, the sale of only part of the Flat of your neighbour in your favour, would be defective .
