I have purchased a Property at Nana Nani Homes in Thondamattur, Coimbatore.

Q: The complex was inaugurated in Dec 2011. The builder has not transferred the property in my name so that I can pay property tax. What it the time limit to transfer the property to my name?

kvraman25, Apartment Resident

10th March 2013

Property Tax in Coimbatore

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property transfer to your family member or a near and dear one is not as easy as you might think.It is very important that you get the precise valuation of your property before transferring it. Doing this will give you a clear idea about the fluctuations of the capital gains tax event (CGT event).The idea of exclusions is to clearly mention that while transferring the property among people, both the receiving and the giving parties re exempted from being taxed. This can be applied in case of a parent, child, in-laws, and step children and so on. What kind of propert is it? any personal relation with the builder?

Indu dixit, Noida

13th March 2013

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Dear Indu, Thanks for your response.The builder Ananya Shelters has not transferred the villa to our names. We hope he paid the house tax for the first year. When I bought a flat in coimbatore the builder paid for the first year and later transferred in my name. Now I am paying the Corporation House tax. This Senior Citizen property is in Thondamattur Panchayat and I hope the rules are the same. I have no relations with the builder

kvraman25, Apartment Resident

13th March 2013