Q:Hello Sir.I purchased a flat in Greater Noida (UP) form IITL Nimbus builder in March 2014 and they give me possession in November 2014. Earlier when i purchased the flat builder not told me anything about VAT. but during the time of possession they ask to give VAT (2%) of Basic property cost. now i want to know, VAT is applicable in my case and if yes what will be the percentage value of VAT amount. and i also want to know, as the VAT amount is already taken by builder from me in November 2014 (4 Months back). but till now Builder not call me and other flats owners for registry.kindly give me your valuable reply.
Latest Answer: U.P. VAT IS PAYABLE ON TAXABLE GOODS ONLY. AS THE FLAT YOU HAVE PURCHASED IS NOT GOODS HENCE VAT IS NOT PAYABLE. FOR FURTHER CLARIFICATION IF ANY PLEASE BE FREE TO COMMUNICATE....
Q:I have bought 2 BHK flat (1000 SQ FT) Express Park View by Nimbus group in CHI V, Greater Noida. Should I hold the flat as possession is given by the builder. Is there any propsed metro route here and what are the appreciation chances here
Latest Answer: Hi Mr Ankush,
In my point of view, this location is becoming gold mine ,attracting many investors & developers & end users. Best suitable for both investors & end users. So it will be a good deal to continue with this project. Here you can expect handsome return in terms of investment. So wait till possession.
