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Answered on November 09, 2017
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  • You can enter into a tripartite agreement with the developer inter alia in respect of the flat and which tripartite agreement could also be the sale deed which can be executed prior to the completion of the construction of the property or in the alternative an agreement can be made between the husband and wife whereunder the husband transfers a proportionate undivided interest in the flat in fa...
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    Answered on November 09, 2017
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  • Since the Pune Flat is owned by your mother, capital gains will arise to your mother. By investing in another residential flat exemption u/s. 54 of the Income Tax Act can be claimed upto a value of subsequent purchase.
    Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe...
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    Answered on November 09, 2017
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  • You can file a suit alongwith the other purchasers of the premises in the buildng for conveyance of the property or apply to the Competent Authority under the amended provisions of the Mahashtra Ownership of Flats Act for deemed conveyance of the property. In so far the demand of VAT made by the developer, the same appears to be time barred and in any event would depend on the terms of your Agr...
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