Sumit Jain, Apartment Resident
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Expected flat registration cost
Q: I have bought a flat in Ozone Everrgreens in Harlur Road, Bangalore. It is a 953 sq, ft apartment. What will be expected flat registration cost?

Latest Answer: Stamp duty is paid at 5% of the registration value while registration fee amount to 1 percent of registration value. Since you have not provided the price of the apartment it is not possible to tell you the registration charges of your flat. For example: If you have brought the flat for say Rs 50 lakhs then the registration cost will be Rs 50,000 which is 1% of the registration value and stamp duty will be around Rs 2.5 lakhs that is 5 % of the registration value. In total it will be around Rs 3 lakhs ( registration+stamp duty).

Purchase of resale unregistered property
Q: I am looking to buy a resale property. The property is a new project and still not registered. The builder has started giving possession and this property is ready for possession. What is the process of buying such a property in Bangalore?

Latest Answer: It is a win win situation for both the buyer and seller as the seller has not paid any stamp duty and registration charges so he can make more gain/profit form the deal. similarly the buyer can negotiate the deal better as the cost of the property is lesser for the seller and thus the buyer can save on some percentage of stamp duty and registration charges.

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