Q:Hi I have a residential row house to let in Surat, Gujarat under Surat Municipal Corporation jurisdiction.I also have a prospective tenant. My question is this tenant would like to use my residential property for his office (commercial) purpose. Society members/chairman DO NOT have any issue with this arrangement.But I would like things on documented and the right way.1 - So, what formalities I have to do in order to get any clearances(local corporation) required if any.2 - what does the tenant have to produce for the same?3 - what are the tax implications?4 - what kind of agreement is ideal for tenure of 1yr or 3yrs.
Latest Answer: Thank you all, I have the acceptance from the housing society.
Also the nature of business is a Management consultancy who just needs space for team to work, most of the work would be at their clients place.
Latest Answer: Hi Anish, the raid was conducted on few real estate developers and lawyers.. They found nearly 100 crore worth assets owned by some six developers. Previously also IT dept had raided few developers and found above 100 crore assets with them.. This is also one such issue. This shows how the builders are making profit by snatching from buyers..
Latest Answer: The Surat Municipal Corporation has identified 400 properties as authorized, and issued notice to the owners to pay the impact fees to convert the properties as authorized one.