Real Estate Forum on Property Tax In Indore

Latest Answer: Indore, the land of food, culture, modesty, charm and outright hospitality is a place which feels like the home. Indore has very rich roots & with the time, has become one of the most livable city in India.Though Indore being a TIER-II city it has it all right from Education, Technology, Research, Art, Fashion, Media, Finance, Commerce & Entertainment, the city has got it all covered.Prospective growth of the IT sector has fuelled the growth of residential real estate in the city. The residential property Flats in Indore is in boom for its facility of 2BHK, 3BHK, 4BHK flats at supercorridor indore in DCNPL hills vista.

Latest Answer: Hi Aashish, You have to pay 8% as stamp duty and 1% as registration charges.

Latest Answer: Hi, Outside Bhopal Municipal Corporation Limits- For Houses - Same as mentioned above for houses, only excluding 1 percent Municipal Corporation Fee For open land - Same as mentioned above for houses, only excluding 1 percent Municipal Corporation Fee Note- If the buyer is a woman, she is exempted from 2 percent charge on stamp duty.

Latest Answer: Yes, you have to pay 8% as Stamp Duty which is Rs.176000 and 1% Registration Charges which is equal to Rs.22000. So, your total property value will be Rs. 2398000 now.

Latest Answer: Hi Rumit, For any sale to attract VAT, it should involve transfer of goods from one person to another. In case of under-construction properties, its the transfer of ownership rights from the developer to buyer in the form of a sale agreement, in select states. This tax is governed under the ‘works contract’ in the VAT law. For instance, VAT is charged at the rate of 1% of agreement value in Mumbai and Pune and 5% in Bangalore, but there is no VAT levied for apartments purchased in Noida-NCR, Chennai, and Kolkata.