Q:I have purchased a flat in an under construction apartment located at Gattigere RR Nagar. The builder says it will be ready by July 2016.. However I think it will go upto year end. Earlier I was told that I need to register the flat upon the completion and at the time when builder gives the keys. But now the builder is asking to register the flat so that I can be protected from the rise in Guidance Value. Could someone please clarify what is the best way forward?
Latest Answer: Registration of the property is a full and final agreement signed between two parties. Once a property is registered, it means that the property buyer in whose favor the property is registered is the lawful owner of the premises and is fully responsible for it in all respects. The law does not recognize unregistered owners and does not give them any rights over the property. Therefore, Registration of Property is Compulsory to prevent fraud or future litigation. I think it will be good for you if you register the property now itself.
Q:have some doubts regarding the property I am buying :Background : Guidance Value of the area is 2130/- per sqft , but my actual sale cost is Rs 3500/- per sqft . I am planning for a 6th floor apartment (Area :1340 sqft). Its a ready to move in property and only amenities is being installed in the property as of now .Car Parking : Rs 200000Amenities: 1,50,000Questions :a) Will the Stamp Duty,Registration be calculated on the Actual Sale Cost or the Guidance Valueb) What % of the total cost of amenities will be used to calculate the Stamp Duty and Registration .c) Will aspects like (Electrical Works/Advance Maintenance/Cost Of Power Backup) be a part of amenities .d) As this is Ready to Move in Property (all blocks are completed except for landscaping and some amenities) , is the builder correct to charge Service Tax and VAT for the same .Requesting your views on the same .
Latest Answer: One of the Indian metro city Bangalore just of late saw a surge in direction esteem on property by as much as 100% in certain territories. Prior to the usage of the same, property buyers hurried to get their property enlisted as after that they would need to shell out essentially higher sums as stamp obligation and enlistment expenses.
Latest Answer: Hello Srirama,
All you need to know about guidance value in Bangalore is mentioned here -. Please click this link for more information Guidance Value in Bangalore