Regarding "Resale Property"

Q: Hello,

I am interested to purchase "resale property", which is 12 years old, well maintained and well furnished.

Property owner is asking 23 Lakhs as buying price. I agree with it, but would like to know what additional charges I need to pay to government/corporation.

I am new in this field and don't have an experienced person with me, who can guide me properly.

I came to know that I need to pay "stamp duty, dastaveg, society transfer fees" etc... but, don't know what is the amount I need to pay for all of them.

Please guide if possible on an urgent basis.

Nishith Niranjan Vyas,

13th July 2015

Buying property in Ghatlodia, Ahmedabad

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Replies (7)

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Chandan Thanki, Ahmedabad

28th July 2015

Comment

U might have to pay hardley 4 lakhs appart from this .
For any further queries call me ( 90080 76645 )

Kamaal S Sulthan, Chennai

15th July 2015

Comment

Thanks a lot for all positive inputs....

Nishith Niranjan Vyas,

14th July 2015

Comment

As I am taking home loan from SBI, the representatives from the bank (Advocate and Valuer) will do all necessary proceedings for which they charge approx 3500 Rupees. These are the words from Bank.

Is that true?

Nishith Niranjan Vyas,

14th July 2015

Comment

Hello,

As I am buying the home in the name of my wife, any decrements possible in terms of Stamp Duty and Registration Fees?

I am taking loan on the name of my wife and I am responsible to pay all amount. SBI Home Loan rate is 9.70%, which is quiet good when compared to other banks.

Please Suggest,
Nishith

Nishith Niranjan Vyas,

14th July 2015

Comment

@Nishith, There is no issue if you buy such kind of property as many other people buy such kind of property. But As said by Jack you should hire any lawer/Expert who can properly guide you. So, you can do this flawlessly. All the very Best.

MadhavJha, Mumbai

14th July 2015

Comment

Thanks for providing valuable information. I am going for old home because of some important factors as mentioned below.

1) Total carpet area is 89 Yards, which is totally usable. No deduction in built up area, which is useless and major of the builders are deducting 30-40% from it.

2) Old construction stays long and the said construction has built by well known builder. Even, the walls are quiet think and sturdy. Less pillar I have monitored in entire building structure.

3) The said old apartment is well maintained and no dues found in terms of property tax, water tax and electricity bill.

Please clarify if I am wrong on above mentioned points.

Nishith Niranjan Vyas,

14th July 2015

Hi Nishith, Yes you have to pay stamp duty and registration charges by yourself and also you have to pay transfer of property charges which is norminal. Around 1 and 1.5 lakh is somewhere your additional charges related to the transfer of property in your name+stamp duty and registration. I personally think that you should take help of legal advisor with all paper he will guide you better.

Jack , Ahmedabad

14th July 2015

Comment

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