Nitish kumar
Posted Discussions
Posted Replies

i am purchasing a flat in an ongoing project at the rate below than the circle rate.
Q: i want to purchase a flat in an ongoing project where prevailing circle rate is 4000/sqft. but builder is ready to book it @ 3700/sqft. do i or the builder have to pay capital gain tax or any other kind of tax. is it right to purchase a flat @ below the circle rate. pls. clarify.

Latest Answer: Hi, Remember, you may buy and sell a property at any mutually agreed price but the fact is that when you go to register the said property in the office of the sub-registrar, you would find that the official, supposed to register your property deal, would compare the sale consideration as mentioned in the sale deed with the fair market value of the property. The rate so fixed is known as the “circle rate”. Now if the sale consideration as mentioned in the sale deed is lower than the circle rate, the stamp duty would be calculated as per the value prescribed for circle rate.

Ask a Question
120 Characters Left





    Trending Categories

    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!