Results for #developer
Legal
#society#redevelopment#developer#society#bring
Our society will soon be undergoing redevelopment, for which we have appointed a developer. Society needs to conduct an EGM in order to bring forward the essential updates in front of the society members. I have been sending written letter to the Chairman of our society requesting him to conduct the EGM meeting at the earliest. Even after sending him 3 letter dated 8.12.2012, 15.12.2012 and 22.12.2012 he has not conducted the meeting yet. We have decided to write to the registrar regarding the same. Kindly advice the course of action for the same.
Our society will soon be undergoing redevelopment, for which we have appointed a developer. Society needs to conduct an EGM in order to bring forward the essential updates in front of the society members. I have been sending written letter to the Chairman of our society requesting him to conduct the EGM meeting at the earliest. Even after sending him 3 letter dated 8.12.2012, 15.12.2012 and 22.12.2012 he has not conducted the meeting yet. We have decided to write to the registrar regarding the same. Kindly advice the course of action for the same.
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can complaint to the Registrar of Co-operative Societies for the failure of your society's managing committee to conduct EGM of 1/4th of the total number of members of your society and can make a requisition in writing to the societies managing commitee to call for such EGM, failing which the members themselves shall be entitled to call for such meeting.
Taxes & Duties
#flat#allotted#purchase#consideration#paid
I applied for a flat which was allotted three months later, entire purchase consideration was paid by me in instalments. Possession is not yet offered by the developer. I have entered in an agreement to sell, I have received the advance and will receive the balance amount soon. How can I calculate the tax liability on this?
I applied for a flat which was allotted three months later, entire purchase consideration was paid by me in instalments. Possession is not yet offered by the developer. I have entered in an agreement to sell, I have received the advance and will receive the balance amount soon. How can I calculate the tax liability on this?
Answered on November 08, 2017
Tax liability will arise on capital gains arising out of difference between sale consideration and purchase consideration. The said gains will be considered as long term capital gains or short term capital gains based on the period of holding of the property. If the residential flat is held by you for a period more than 24 months than the same will be long term else short term. Indexation needs...
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Legal
#land#developers
I own an apartment in a township, but the land is still in the developer's name. The local municipality is asking me to pay the tax but issues receipt in joint name of me and developers. Is this legal?
I own an apartment in a township, but the land is still in the developer's name. The local municipality is asking me to pay the tax but issues receipt in joint name of me and developers. Is this legal?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Unless the land is transferred to your name and/or the name of organisation of partner owners, the receipts issued by the local municpality in the name of the Developer and yourself is perfectly legal.
RERA
#society#developer#redevelopment#registered#maha
Should a society while selecting developer for redevelopment see if the developer is registered with Maha RERA?
Should a society while selecting developer for redevelopment see if the developer is registered with Maha RERA?
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
Society can only check whether the Developer's past or current projects were/are registered with RERA. RERA registrations are project specific not Developer specific.
Legal
#bungalow#entered#agreement#developer#builder
I bought a twin duplex bungalow in Goa that is spread over 148 sq mts. the plot although is 340 sq mts. The bungalows share a common wall. I entered into an agreement of sale along with the developer. According to this the area of the house and the first floor, belong to me as a part of the demarcation by the builder. Do I need to take any precaution before the sale deed?
I bought a twin duplex bungalow in Goa that is spread over 148 sq mts. the plot although is 340 sq mts. The bungalows share a common wall. I entered into an agreement of sale along with the developer. According to this the area of the house and the first floor, belong to me as a part of the demarcation by the builder. Do I need to take any precaution before the sale deed?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You should have the plan of the bungalow made to measure upto scale and have the same annexed to your Sale Deed to avoid any ambiguity as regards the area of land and bungalow sold to you.
Purchase & Sales
#purchase#flat#cc#developers
I am looking to purchase a flat on the 10th floor and C.C. is upto the 6th floor. Why do developers not obtain the full CC in one go?
I am looking to purchase a flat on the 10th floor and C.C. is upto the 6th floor. Why do developers not obtain the full CC in one go?
Answered on November 08, 2017
It is not always practically possible to obtain full CC at one go. There are huge premiums that need to be paid. If they are paid in one go, developer will incur heavy finance charges on the same, which ultimately will be passed to the consumer.
Legal
#flat#property#registered#developer#sell
I own a flat that I bought in 2005, this property is fully registered as freehold in my name and all the property related mutations have also been undertaken. I recently found out from the developer that I cannot sell this land as I don't have clear title. What would be the solution?
I own a flat that I bought in 2005, this property is fully registered as freehold in my name and all the property related mutations have also been undertaken. I recently found out from the developer that I cannot sell this land as I don't have clear title. What would be the solution?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague and incomplete.
