Results for #under-construction
Legal
#buying#flat#under-construction
Which is the wiser thing to do with an eye for investment; buying a ready flat or an under-construction flat?
Which is the wiser thing to do with an eye for investment; buying a ready flat or an under-construction flat?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Ready flat would be expensive compared to a underconstruction flat.
Taxes & Duties
#flat#under-construction#property#landlord#builder
I recently purchased a flat which is in an under-construction property. The landlord and builder own half the flats each as per the JDA. The flat I am purchasing is from the landlord. He is not going to pay VAT and ST on this transaction, maybe he will pay capital gains tax. In such a situation, will the new law of cutting 1% TDS be applicable to me?
I recently purchased a flat which is in an under-construction property. The landlord and builder own half the flats each as per the JDA. The flat I am purchasing is from the landlord. He is not going to pay VAT and ST on this transaction, maybe he will pay capital gains tax. In such a situation, will the new law of cutting 1% TDS be applicable to me?
Answered on November 08, 2017
Yes, the provision of section 194IA of the Income Tax Act will be applicable in this case and accordingly if the consideration to be paid is 50 lakhs or above then TDS @ 1% is required to be deducted.
Purchase & Sales
#costs#buying#under-construction#flat
What is the difference between the the total costs in buying an under-construction flat versus buying a ready flat?
What is the difference between the the total costs in buying an under-construction flat versus buying a ready flat?
Answered on November 08, 2017
Buying a flat In under construction building will attract payment of GST whereas it is not applicale for a completed building having Occupation/Completion Certificate issued by approval authority
Purchase & Sales
#buying#flat#under-construction
Is there a check list of precautions and documentation to be considered for buying a flat, be it an under-construction one or a ready one?
Is there a check list of precautions and documentation to be considered for buying a flat, be it an under-construction one or a ready one?
Answered on November 08, 2017
After introduction of Maharashtra Real Estate regulation Act, 2016, it is mandatory for the developer to register new and ongoing project withReal Estate regulatory Authority (RERA) after obtaining approvals from the local authority. All details such as nature of the proposed building, title of the property, completion time of the project, draft of Agreement for sale etc. are uploaded on RERA w...
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