Latest Answer: Yes, as per the Section 50C if a property is sold below the circle rate, the circle rate of the property would be considered to be the rate at which property has been sold and capital gain tax would be levied assuming that the property has been sold at the circle rate.
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Q:We have bought house in 1996 in 5 lacs but at that time we have not transfer it.Now the current value is 60 lacs Now we want to trf it in Oct 2016 to my mother's name and if we do 20 lacs dastavej then how much total charges/spends will be applied??And also any other property gain tax will be applied to seller???? Please guide us
Latest Answer: @Arth,
Yes, the property can be transferred to the mother and you can get a rebate on it. Stamp duty is charged at 4.9% and registration fees is 1% of the market price of the property or the transaction value, whichever is higher. But there is a exemption for the women property owners from the registration fees. From now onward, there is a hike in property tas as buyers have to pay Krishi Kalyan Cess-0.2% and Swacha Bharat tax-0.2% which is effective from June 1st.
Latest Answer: You can get flat registered online in Jaipur. You may see all preferred documents via online. I know a well trusted real estate sector in Rajasthan. That is Shree Ram Group. So search out some attractive apartments at http://www.shreeramgroup.com/.
Latest Answer: In Maharashtra Stamp Duty is 5% (Municipal Corporation areas), 4% (Municipal Council and MMRDA areas) and 3% (rural and other areas) – 1% Surcharge for all Properties except those located in Mumbai and Mumbai Suburban District.
And Registration fees is 1% of Guideline/Market Value subject to a maximum limit of Rs.30000.
Latest Answer: Hi Friends!!!!
Noida Authority is intentionally delaying to issue notification to register maximum deeds. On the other hand, developers are saying that hike will negatively impact real estate in Gautam Buddha Nagar.
Latest Answer: Hi everybody,
Currently, REITs are facing challenges on factors like distribution of 90% of net distributable income after tax to investors; stamp duty charges that can range from 5% to 12% of the property value and minimum alternative tax (MAT), which also discourage developers to firm up REITs plan.
Q:A new state government circular that ask to increase stamp duty revenue by changing the method of calculation of depreciation in respect to old buildings has caused a panic in the real estate industry.
Latest Answer: This method will create complication for valuation of property as well for computation of capital gain tax. In spite of the fact that the govt. may receive additional revenue at the beginning by way of an increase stamp duty. But it will dampen the number of transaction in the log run.
Q:detail of property Flat NO. 102, 1st. Floor, admeasuring about 67.28 sq.meters(Built up) in the building known as SAI SARAN, On Plot No.103&104,Sector 12E, Koper Khairne, New Mumbai-
Latest Answer: Earlier it was 2% on the property's market value (ready reckoner rate) was payable in cases where the property was being gifted to a family member, under the Maharashtra Stamp Act. In cases where the transfer of property doesn't qualify as ancestral property, the stamp duty payable was 5%.
Q:The Union government may consider removing stamp duty on transfer of properties by private individuals and firms to real estate investment trusts that are expected to get listed on stock market beginning April next year.
Latest Answer: DLF has also announced plans to start 2 Reits, with one exclusively for commercial office space by end of this financial year. The company has made public plans to monetise about 30 million sq-ft office and retail space.