Q:
I am planning to purchase a resale flat in Mumbai. Apart from registration and stamp duty, what are the other charges I need to pay government or any other party? Also is registration and stamp duty to be paid online mandatory or can be paid via agents?
Hi Vipul,
Apart from registration and stamp duty charges there are other charges which you have to pay are Transaction charges, Service tax, Value Added Tax (VAT) Capital gains tax to be borne out by the seller for a resale transaction.
Thank you Rajat, Anuj and Ravi.
As I mentioned, I am planning to purchase resale flat. My understanding is that for a resale flat VAT and service charge will not be applicable. Now the question that I have are:
1. For property tax payments, I will ask owner to provide certificate from society that the property tax is duly paid. Any other thing I need to check?
2. Transfer charges will by default include club house, parking, power back up charges. Is this understanding correct?
3. I was told by the agent that I will have to pay TDS for the seller and the amount will be reduced from the final amount that I will pay to the owner. Is this correct and first of all I did not understand why this TDS?
4. Who will bear the Utility transfer charges? Me or the seller?
Thanks - Vipul
2nd June 2015
One more question I have is on registration. I am planning to put self,, wife and child in registration. Is it a good idea to put child name also or there will be any complications now or later?
Thanks, Vipul
2nd June 2015
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