Regarding registration cost + Vat + Service tax

Q: Hi I have purchased the flat for 28lakhs ( 24lakhs + 4 lakhs eminties/ club house/ parking ) I have question regarding registration cost + Vat + Service tax Can you please tell me how much expediture I will incurr Officals @ Vasathi are calculating @ actuals 28lkhs all the registration + VAT+ Service so total amount is coming down to 3.4 lkhs .Is there ay way to lower the cost. Please help me in this regard.Thanks in Advance

Sista, Apartment Resident, Hyderabad

3rd August 2012

Buying property in Vasathi Anandi, Appa Junction, Hyderabad

vat & service tax on new apartment

in hyderabad

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Replies (17)

Service Tax Chart for Financial Year 2016-17 will be:- Service Tax Basic Rate-14%
Swachh Bharat Cess-0.5% w.e.f.15.11.2015,
Krishi Kalyan Cess-0.5% w.e.f. 01.06.2016
So total Service Tax Rate will be-15%

Arpit, Delhi-NCR

21st June 2016

Comment

Hi all,
Yesterday, the Delhi High Court, with regards to a recent case, ruled that service tax cannot be levied on under-construction flats in a housing project. Service tax on under construction property is charged on 25% or 30% of its value. is not charged on the entire value of the under-construction property, and is instead levied on a certain percentage of the total value, i.e., the cost of construction.

Arpit, Delhi-NCR

21st June 2016

Comment

Yes, i read the Delhi High Court judgement against a Noida Builder and and fined him with 6% interest. And from now the effective rate on the entire value of a property costing below Rs.1 crore is 3.75% (i.e., 15% * 25% of the property value), and for a property above Rs.1 crore, the effective rate is 4.5% (15% * 30% of the property value). Accordingly, if you are buying a property costing Rs.75 lakh, you will have to pay Rs.2.81 lakh (3.75% of Rs.75 lakh) as service tax. Similarly, if the value of the property is Rs.1.5 crore, service tax would be Rs. 6.75 lakh (4.5% of Rs.1.5 crore).

Nandakishore, Ahmedabad

21st June 2016

Dear All, This is ATUL DESHMUKH FROM F611 VASATHI ANANDI,
Just wanted to caution everyone who is intending to purchase....We are facing below issues here, 1) Delay in completion of the project as a whole which will further delay the occupancy certificate (Not nearer than next 1-2 yrs..my own calculation as per the current worse scenario) Which might affect your plan to buy and sell plan in future 2) Non adherence in completion of basic amenities like club house....Swimming pool...Don't go by the rosy picture shown in the prospect...like Club house ....swimming pool (which is nowhere near even starting phase) 3) Problem with providing basic facility of providing water for domestic use which is available for 4 hrs a day only....earlier it used to come 24 hrs...which is a big worrisome factor...4) The clubhouse charges and 1 yr. advance maintenance taken at the time of registry however...nobody has the idea when this fund will be utilized for the current maintenance..be alert think twice

Atul Deshmukh, Apartment Resident

30th January 2016

Comment

I am staying in this project since last year. I could say it's a worst project has many flauses with construction. No water in bores. Bores are totally dried off. No amenities are provided yet since last 5years from the time the project has started. It's waste of money buying here. Even I happen to hear there are few legal issues with respect to some blocks.

Rahul,

27th September 2015

Comment

Hi all,
Recently I been to the site G-Block is ready to occupy , curious to know did any one booked the flat in it if yes kindly share your feedback .. Thank you.

Bharath Konda, Hyderabad

7th July 2014

Comment

Hi Bharath,
I have one flat in D-block. As per the telephone conversation, they said that the possession was alredy given in Mar End/Apr first week & i also heard that they have given two blocks intially this Jan 14 month END/Feb FIRST week.

Tinku Patel, Hyderabad

7th July 2014

I was interested in purchasing now...it is almost Aug 2016. Any feedback?

Sanjiv Paul, Apartment Resident

31st July 2016

As soon as you buy they force you to complete the AOS asap, they also offer you money if you complete your AOS in 3 days . This is the most funniest thing I have ever noticed with any real estate company. This itself shows that they are running short of money. They have postponed the project handover date for 3 times till now. Stay away from this project, its your hard earned money you are investing.

Balwinder Singh,

22nd August 2013

Comment

It is very risky purchasing a flat here, Vasathi Housing has many financial issues. Internal news is that many senior employees from engineering department have left the company because they are not paying salaries from 6 months. The company doesn't have enough man power or enough funds to complete this project. Banks have blocked the funding to this company they have many pending EMI's.

Balwinder Singh,

22nd August 2013

Comment

Thank you Balwinder for your feedback..

Supratim,

22nd August 2013

I have seen a lot of advertisement of Vasathi Anandi Project at Appa Junction, Outer Ring Road. Anyone who has booked an apartment in Vasathi Anandi or planning to book?..can anyone share their feedback....!!!

Supratim,

22nd August 2013

Comment

I booked a studio in the vasathi. The main reason of booking vasathi is studio. They are doing first such big construction so it has both positive and negative side.. hoping for the best.

Vivek Kulkarni,

22nd August 2013

Hello, I have purchased new flat in Hyderabad for Rs. 21,00.000/-. As per the builder registration charges will be Rs. 1,82,000/- approximately. which i need to pay. Can anyone tell is there any way to reduce the tax. I heard that service tax need to be bear by the builder as per the law but my builder is asking me to pay. Any suggestions in this regard is much appreciated.

VENKATESH K,

3rd January 2013

Comment

Hello,

I own a plot in Hyderabad about 10 km from Hitec city area. I want to give this to a builder on 50:50 share of flats. Will I have to pay any VAT, Service Tax or other taxes on my portion of the flats?

Thank you

Sri, Hyderabad

4th December 2012

Comment

It is difficult to give exact figure. Stamp duty varies from place to place.. In Hyderabad Registration cost is 0.5%. I guess stamp duty is 7%, though I am not sure. May be between 2 to 3 lacs.

Prashanth, Coorg

8th August 2012

Comment

Hi can any one tell me how much i have to pay.. as even i am planning to buy. Please reply..

Vivek Kulkarni,

23rd August 2013

Is it possible for you to give exact number ...it costs for me . ( registration+ Stamp duty + Service Tax+ Vat)
for 24 lkhs worth appartment

Sista, Apartment Resident, Hyderabad

7th August 2012

Comment

Where did you read that Service Tax is applied only on 33% of the total cost? I have no idea about this.. You better contact your municipal corporation to find out exact charges.

Prashanth, Coorg

7th August 2012

Comment

s.tax applied only on 25% of the total cost. s.tax will be 12.36%, if you want on the total cost means it will 3.09%.

stephan, Bangalore

31st January 2014

It is based on cost of the house only.

Sree, Bangalore

7th August 2012

Comment

and One more thing I got info from common floor website that Service Tax is applied only on 33% of the total cost ( i.e only labour cost but not on the materials ) then what will be the amount which I have to pay

Sista, Apartment Resident, Hyderabad

3rd August 2012

Comment