Real Estate India, Residential Commercial Real Estate Properties India

Question asked by Mr Binu from Bangalore, India: Hello, My name is Binu and I am in a sticky spot. My family purchased a house in Bangalore, a gated community. It is currently under construction. Now out of the blue, the developers of that area have decided to erect a transformer next to our house, right adjacent to the house. This was not disclosed earlier but also there is nothing in the contract to prevent the developers from using the rest of the land in the way they like. It poses two problems, it is a nuisance, and hazardous plus it ruins the look of the house. also the price would depreciate after the transformer is built. There are kids in our family and we would never live in this house if the transformer were to be built. What in your opinion is our best bet. Is there anything we can do to prevent this from happening. Thanks Binu Vatsala Answers: Most transformers have safety standards to follow. If there is genuine danger, nuisance or undue hardship, you can send a legal not...

Question asked by Mr Gautam Dutta: Hi, Recently, I have brought a property where after completion of sale deed builder is charging extra money for registration saying it was an approximate. But where as during the time of booking there was no approximation mentioned in the form and proof of which is the carbon copy. After booking of form they have manipulated the original form by writing approx on the right hand side of registration cost which is clearly not there in carbon copy. Second thing they have issued a letter for remodeling of house which they are delaying or trying to skip. They are charging money for extra registration cost as well as I may have to incur some loss for remodeling otherwise they are threatening not to give the possession certificate and parking allotment. Where as in Sale deed a covered area parking allotment is mentioned and they have already taken money for that. What all legal action can be taken for this and how long it can bother me? With Regards Mr. Gaut...

Question asked by Mr Pankaj Shrivastava: I have purchased a flat at Kalyan, Maharashtra. At the time of booking it was told that all the trivial issue would be taken care of however now they are backing out. Some of the issue that I’m facing is listed below please let me know what kind of legal action can be taken. For their safety they have no prints / brouchers etc. Issues: 1. Irregularity in color shade of Bathroom tiles. 2. No night lamp point in Bedroom 3. No electric point for dining area 4. Electric point placed just beside the shower 5. Broken titles in Bathrooms and living room. Mr. Pankaj Shrivastava Vatsala Answers: If the builder has not specifically undertaken to give night lamp point, electric point in dining area, it cannot be enforced. However, the broken tiles and electric point just below the shower can be rectified by going to the Consumer court (within the limitation period) as it will constitute deficiency in service.Vatsala http://www.atoneplace.com For more infor...

Question asked by Mr Sanjiv Jain from US: I booked I have booked one 3 BHK flat in a new construction building and I’ll get possession in 6 months. This Flat has two numbers allocated to this (303+304). I checked with builder about the floor plan as approved by the corporation and found that this 3BHK is actually created by combing two 1 BHK flats. Builder told me that once building construction is over, he will get plan re-approved as per modified structure. According to him, I need to go for only single agreement of purchase and registration/stamp duty. I want you opinion on this. Should I go for this agreement? Will I get single loan on this property or that will be treated as double home loan even if I go single agreement? Mr. Sanjiv Jain, USA Vatsala Answers: As long as the modifications from sanctioned plan are internal, it will not amount to FAR violations. Hence you can proceed with the purchase. You should make sure that the builder gives you the Khata for your flat (in the na...

Question asked by Mr Wilbur D'Souza from Mumbai Hello, Im keen on constructing a building on my own property from which I will be forming a small partnership company. How will the tax be calculated? And what will be the percentage of deduction on the profits? Will appreciate if you could give throw some light on this. Thank you. Regards Mr. Wilbur D'Souza, Mumbai Vatsala Answers: Is the partnership in the business of construction and sale of properties? If so, then the land and building will be considered as stock in trade and no capital gains will be charged on transfer. The tax you have to pay is the normal tax on profits made by the partnership firm at the end of each financial year. Vatsala http://www.atoneplace.com\ For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Ms. Aradhana from Bangalore: Hello, I am looking for some advice on the following: My friend bought some land from a developer and only has khatha for it (no registration). Meanwhile, the developer sold the land to another party who has completed khatha as well as registration. While the developer initially offered another piece of land, he does not seem to be forthcoming with his offer anymore. What steps can be taken if any to ensure that another piece of land is given or at least the money is returned? Any advice is appreciated. Thanks! -Aradhana Vatsala Answers: If receipts are available, a simple money suit can be filed demanding the return of monies paid with interest. If a valid agreement of sale is available (and it has not become time barred due to limitation) and if it can be proved that the registered owner had purchased the land after being aware of the prior agreement, then you can sue in a court of law. Otherwise you cannot get another site, but can get ...