What all tax and changes need to pay for Resale flat.

Q: "I am buying resale flat price is 45L from seller , except this 45L what other things and charges i have to pay .
Like transfer charge , stamp duty , registration and how we calculate this cost.

K Kumar,

2nd January 2016

Buying property in Sukhwani Capital, Pimpri Chinchwad, Pune

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Replies (2)

Is it compulsory to make the payment of stamp duty and get the property registered before sending it to bank for loan approval process?

Balwinder Singh,

4th January 2016

Comment

For taking mortgage from bank for purchase of flat you first have to get the agreement to sell executed and registered by paying stamp duty and registration fees. Thereafter apply for mortgage. Financial institution can pay the remaining amount to the seller and the flat will probably be registered in your name via sale deed for which you shall have to pay balance stamp responsibility and registration bills. Then you are going to mortgage the flat with the bank with the aid of depositing the entire files on the subject of the flat together with sale deed and all previous associated records.

Kaushik Bardia,

4th January 2016

What are the important documents required to buy a resale apartment or independent house?

Balwinder Singh,

4th January 2016

The various document that you need to carefully verify before buying resale property:
1. Sale deed
2. Mother Deed
3. Encumbrance Certificate (EC)
4. Latest tax paid receipt
5. Khata Certificate and Khata Extract
6. Building approval plan

Kaushik Bardia,

4th January 2016

The biggest advantage of buying resale property is, You will get what u will seeNo future shocks.You can verify Legal Titles and can be assured of Legal Status.Clarity on residents composition of complex and Maintenance Charges.

Rithwik D, Pune

4th January 2016

Comment

Hi Rithwik, You are right!!
In resale project there is no waiting period, Immediately you can move into ur new flat until & unless u r planning for some re-furnishing, Cost including Home Loan interest is low compared to under construction
Clarity on final amount to be paid.You can check out construction quality with the help of structural engineer.

Apurva Nagpal, Pune

4th January 2016