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Impact of hike in registration cost and guideline values have always been felt in the Chennai property market.

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hike in registration cost
Latest Answer: Hi Mr Javed, According to me, if someone buys a new flat for Rs 1 crore and assuming the cost of UDS is Rs 40 lakh, the construction cost would be approximately Rs 60 lakh (which would exclude taxes such as service tax, VAT). Earlier, a buyer was paying Rs 3.20 lakh (8% of UDS i.e Rs 40 lakh). The buyer needs to shell out an additional Rs 1.20 lakh (2% of construction cost ie Rs 60 lakh), resulting in a total of Rs 4.40 lakh.
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Need expert advice
Q: My son bought a site measuring 1720 sq.ft from one person who sold his land measuring 5800 sq ft to 4 different persons. my son is one of them. He has a valid sale deed. when he approached the concerned help centre to pay the tax, the person in charge refused to accept the tax saying various reasons. Finally he said he said he will issue a receipt in the old owner and not in my son’s name. Please advise me the correct rule in this regard.

plot purchase
property tax
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Latest Answer: Please check whether katha is transferred in your son's name.Tax can be paid in the name of the Kathedar only. If the katha is not transferred in to your son's name take steps for the katha transfer
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Buying a resale property
Q: I have a question. I intend to buy a resale property at Bangalore. However the present seller does not have Khata in his name. He has executed sale deed and sale agreement only with his previous seller. The khata is in the name of previous seller. Does this create any problem if we buy now? How is the procedure?

resale property
khata
sale agreement
sale deed
Latest Answer: One of my cousins bought a resale property in Adarsh Serenity. She needed a lawyers help to get things rolling. She availed services from Zippserv. They helped her verify the property documents, drafting sale agreement, get the sale agreement franked, drafting sale deed and registration (https://www.zippserv.com/property-lawyer/property-resale-package-bangalore.html). They also got the pre-approval from a PSU bank and got the loan process started. The whole process was very seamless. Thought this information will be useful to many.
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