Aabher Mehta
Questions Asked
Purchase & Sales
#flat#possession#property
If you buy a flat on EMIs in Year X and get possession of the flat after 5 to 6 years, which is the year in which the property is considered to be bought?
If you buy a flat on EMIs in Year X and get possession of the flat after 5 to 6 years, which is the year in which the property is considered to be bought?
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Answered on November 08, 2017
Date of purchase is the date of agreement for sale but for the capital gain tax purpose it is the date of possession of the flat.
NRI
#pio#immovable#property
Can an NRI or a PIO repatriate the proceeds from the sale of an immovable property? If so, what are the terms for the same?
Can an NRI or a PIO repatriate the proceeds from the sale of an immovable property? If so, what are the terms for the same?
Answered on November 08, 2017
1.From the balances of NRO account – subject to declaration
2. Sale proceeds of assets
3. Assets acquired from legacy/ inheritance/ deed of settlement
they can remit up to USD 1 Million in a financial year
RERA
#promoter#agent#complaints#complaint#buyer
Can a promoter or a real estate agent also file complaint against a buyer?
Can a promoter or a real estate agent also file complaint against a buyer?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) Yes. An aggrieved person having any interest in the registered real estate project can file complaint.
Legal
#flat#ownership#address#registration#agreement
I own two flats and I am currently living in one of them. That flat is in joint ownership with my married daughter. The address on the sale and registration agreement is the one of my old flat as I was living there during the purchase and I continued to live there for some more time. Now, I have moved to my own flat. Will I face any problems with regards to sale because of the address? If yes, then how do I go about with changing the address?
I own two flats and I am currently living in one of them. That flat is in joint ownership with my married daughter. The address on the sale and registration agreement is the one of my old flat as I was living there during the purchase and I continued to live there for some more time. Now, I have moved to my own flat. Will I face any problems with regards to sale because of the address? If yes, then how do I go about with changing the address?
This question has not been answered
Legal
#flat#mumbai#transferred#ownership#transfer
We are a family of father, mother, myself (son), a brother (who passed away in 2008) and four married sisters. My father owns a flat in Mumbai. When he passed away in 2012, his will (unregistered) transferred 94% of the ownership to me, and 1.5% to each of the 4 sisters. How do I transfer this flat on to my name? The nomination is in my and my deceased brother's name.
We are a family of father, mother, myself (son), a brother (who passed away in 2008) and four married sisters. My father owns a flat in Mumbai. When he passed away in 2012, his will (unregistered) transferred 94% of the ownership to me, and 1.5% to each of the 4 sisters. How do I transfer this flat on to my name? The nomination is in my and my deceased brother's name.
This question has not been answered
Legal
#builder#sell#flat#parking#booked
As per supreme court norms a builder cannot sell a flat with an open parking space. Without knowing this I booked a flat with an open parking space. Please let me know if I should cancel the booking or not.
As per supreme court norms a builder cannot sell a flat with an open parking space. Without knowing this I booked a flat with an open parking space. Please let me know if I should cancel the booking or not.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The open car parking would belong to the society/ organisation of apartment owners in common and they alone will be entitled to decide as to who gets to use such open car parking space.
Legal
#land#transferred
Will I have to pay wealth tax on a land that has been transferred to by my mother?
Will I have to pay wealth tax on a land that has been transferred to by my mother?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Wealth tax would depend on your total asset value and merely because land has been trasnferred to you by your mother, the same would not invite wealth tax.
Legal
#constructed#property#agreement
There was a circular issued by the state to pay 5% vat on the flats that are constructed between June 20, 2006 and March 31, 2010. How much would I have to pay for a property that has an agreement value of 23 lakhs?
There was a circular issued by the state to pay 5% vat on the flats that are constructed between June 20, 2006 and March 31, 2010. How much would I have to pay for a property that has an agreement value of 23 lakhs?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
VAT payable would depend on State laws and also it requires payment of penalty etc.
Legal
#residential#property#sell#occupy
I was forced to rename my residential property in my father's name. After doing, this my brother convinced my father to sell all of it. Although, my father has let me live on part of the property, I am worried that he will also sell the part that I currently occupy. If this does happen, what can I do to prevent it?
I was forced to rename my residential property in my father's name. After doing, this my brother convinced my father to sell all of it. Although, my father has let me live on part of the property, I am worried that he will also sell the part that I currently occupy. If this does happen, what can I do to prevent it?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If the property is acquired from your self earned income, then you can obtain an injunction from a civil court restraining your father etc., from dealing with your property or your share therein. If the property is acquired by the father from his income, then you cannot prevent him from dealing with the same.
Legal
#huf#will#rules#nominee#property
According to HUF rules there can be nominee to my property and investments. Under my HUF, I own a property and multiple investments in the form of FDRs and others etc. I want to bequeath these investments to my nephew, how can I go about with this?
According to HUF rules there can be nominee to my property and investments. Under my HUF, I own a property and multiple investments in the form of FDRs and others etc. I want to bequeath these investments to my nephew, how can I go about with this?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If your nephew forms part of the HUF, then you could devolve your share in the investments of the HUF unto and in favour of your nephew by way of a testamentary disposition i.e. Will.
Legal
#transfer#property#transferred#relatives
Can a property be transferred only between blood relatives?
Can a property be transferred only between blood relatives?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No, a property can be transferred by way of a sale to any third party and also by gift deed if the property is owned by the transferor himself and from his/her own funds, to any third party.
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