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Real Estate Forum on Legal in Bangalore

Real Estate Property Discussion Forum and Guide to Real Estate Queries in Bangalore

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Latest Answer: Righ Sir, It is advised to go register as per market value and have peaceful nights sleep. Why? Because, when you sell your property in future , you have to pay the tax on the profits made. And the profit is decided by your cost of the house and the sell price. So lower the cost of your house, the higher the profits on paper for you in future. You might be aware of the fact that indexation is applied in case of real estate transactions and 20% tax is paid on the profit.

Q: Hi, I read that, Akrama-Sakra has cut-off date of October 19th 2013 for the eligibility. My house Registration is done on October 25th 2013. But actual construction is completed 3 months earlier. How do I prove that, my house is constructed before October 19th 2013. I don't have OC, Electricity bill before October 19th 2013. Only proof I have is Agreement which is not registered. Could you guide me on how do I get A-Khata in this scheme for my house. Appreciate your help.

Latest Answer: I do not think you can regularize your house because all buildings constructed before October 19, 2013, are eligible for regularization.

Latest Answer: You can do it but you will have to check your agreement with builder if there is a clause for assignment. Via a assignment agreement you can sell your property- builder will charge a transfer fee. but with this you need not register and sell. which project is your property in call for more - Nine Eight Eight Six Seven Four Seven Four Zero Three

Latest Answer: Paritosh - Please make sure that you register the lease agreement. It is around 1.5 % your average annual rent and you could do it yourself. If your doing for the first time, please hire an advocate and get it done. Advocate fee shouldn't be more than 7-10k. This will make you sleep better :-)

Q: Wanted to know whether they are providing proper documents OC and A Khata for the apartment.
Latest Answer: How much is the current rate per sqft they are quoting and when is the project expected to get completed?

Q: Will this budget introduce single tax associated with home purchase as opposed to multiple taxes?

Latest Answer: There are high expectations that the budget will introduce a single tax system in the form of the Goods and Service tax (GST) doing away with the multiple tax-level system where there were different levels of taxation like service tax, VAT as well as stamp duty and registration charges.

Q: I want to buy a property? Do you think budget 2015 will introduce interest cut on home loans?

Latest Answer: Hi, The Union Budget 2015-16 highlighted that India's economy was presently in an exceedingly bright spot within the world context. This was principally attributed to reduced vulnerabilities regarding the economic retardation, persistent inflation, weakening domestic demand and currency fluctuations. The Budget calculable a GDP rate of 7.4% in 2014-15; and banking upon macro-economic stability, larger financial prudence, high employment generation and economic process is anticipated to the touch concerning 8.1-8.5% in 2015-16. With a reformist government and a benign external atmosphere, India's economy is anticipated to eventually reach a integer growth mechanical phenomenon over consequent few years.

Q: Is it really necessary to check if the builder is going to provide occupancy certificate for that particular project?

Latest Answer: Such buildings are mushrooming across Bengaluru in recent times with authorities unable to curb the practice from spiraling. So, what can this be attributed to? According to experts, the realty boom across the city has resulted in many ‘fly-by-night’ builders resorting to such illegal practices so as to make a fast buck. This resulted in a break-down in the system with lack of transparency adding to the woes of the authorities. Moreover, the lack of concrete regulations and buildings norms has resulted in many unscrupulous builders constructing residential projects without proper approvals and environment clearances.

Q: What is bmrda approval ? what is bmrda approved land?

Latest Answer: BMRDA is an Act to provide for the establishment of an authority for the purpose of planning, co-coordinating and supervising the proper and orderly development of the areas within the Bangalore Metropolitan Region

Q: I have a plot in Bangalore and want to know if the plot has been approved by BDA.

Latest Answer: Thanks Bijoy for your quick and prompt reply.. Is it a good idea to but a BDA approved project?

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