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 Sunny Sureen: Dear Vatsala, Few years back my father had applied for a loan from LIC Housing Finance for construction( extension ) of his existing property. The papers of existing house were kept as a security. We are living in the same house till now. The loan was granted and it is being repaid in the form of EMIs. During the 1st year a part of the EMI was adjust for a premium payment of Insurance policy started at the time of approval of the loan. But it was discontinued due to financial constraints and the policy got lapsed. A month back my father passed away and a major part of the loan is still outstanding. I am getting calls from the institution to pay the EMIs due since past few months. I told them the situation on phone. Now the institution is suggesting me to continue paying the EMIs till the entire loan is repaid. Please suggest me what would be the standard procedure to be followed in this situation, so that later on I dont face any restrictions/hassles ...

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 Abhishek Samant from Mumbai: Hi, I just want to know the detail and documents to buy agriculture land. My grand father used to hold an agriculture land. Waiting for your response. Thanks Mr. Abhishek Samant, Mumbai Vatsala Answers: The documents to purchase agricultural lands are 1) parent deeds 2) RTC from 1969 onwards 3) Mutation certificates 4) Akarband 5) Tippany 6) Village Map 7) Family tree wherever applicable 8) Encumberance certificate and 9) Index of land and Record of rights, if available. This is a general list and may vary from case to case. Vatsala http://www.atoneplace.com For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Mr Mishaal from Africa: HI, I am a person of Indian origin but me and my family have been in Africa since 2 generations. My mother was born in India but we are unable to trace her birth certificate. I have my 1st cousins in India in Bombay. Is there any way in which I can be elegible for a PIO card. If not, what is the alternate option for Investing in India Regards Mr Mishaal, Africa Vatsala Answers: Getting a PIO card is secondary. A person of Indian origin is defined as a person who has held an Indian passport at any time, or whose father or grandfather was a citizen of India. A person of Indian origin, can purchase property (except agricultural land) anywhere in India. No formalities are required except when sale proceeds are to be repatriated. Funds for purchase should be routed through normal banking channels. Spouses of Indian citizens are not considered as PIO’s. Vatsala http://www.atoneplace.com For more information, kindly visit at Real Estate India or Onli...

Question asked by Vivek S from Bangalore, India: I am planning to buy a BDA site in bangalore. i want to know how to get a loan for that and what will be terms and conditions from the bank. Pls reply back. Vatsala Answers: To get a loan sanctioned for a BDA site, if it is a first time allottment, the allottment letter from the BDA should be given to the bank along with other formalities like your salary certificate, etc. If it is re-sale, then you should furnish the allottment letter, possession certificate, lease cum sale agreement (if applicable), sale deed, khata, tax paid receipts and encumbrance certificates. After inspecting the originals, the bank will sanction the loan. Vatsala www.atoneplace.com For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Mr Kishore Marimganti from Bangalore: Dear Madam, I have bought a corner site in a BDA auction. It has road on two sides and a single property (church) on the other two sides. Please let me know if I can build a commercial building in this property. What options do I have if I want to build a 'dwelling house'? Thanks for your response. regards Mr. Kishore Marimganti, Bangalore Vatsala Answers: You should first check the zonal use prescribed in the CDP and the road width abutting the property. If the road is more than 60 feet, you can build a commercial premises after getting the proper plans approved by the relevant authority. To build a dwelling house the same procedure should be followed – check zonal use and approach proper authority for plan sanction. Vatsala http://www.atoneplace.com For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Mr L Chandrashekar from Bangalore: Dear Sir / Madam, Do we have to pay any VAT for an apartment? In my case, there are 175 apartments in the project. Please let me know the details. Regards, Mr. L Chandrashekar, Bangalore Vatsala Answers: In majority of cases, service tax and VAT will be applicable. It does not depend only on the number of flats but on whether the builder has outsourced the construction activity or not. Vatsala http://www.atoneplace.com For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Divya from Banglore: Respected Mam, My name is Divya k c, I'm basically from Kerala and I'm currently living in Bangalore. I am currently in need of a Legal consultation and support from a Real Estate expert lawyer in India who could help us with our current situation. Myself Divya k c, my Husband Sinoj Nair who too lives here in Bangalore have bought an Appartment in Bangalore, from the Multi Group Builders. The size of the land is 1350 sqft approximately .After registering the appartment to our individual names in late 2007 ,we singed a construction agreement with the promoter to build and deliver the house to us. We have financed the appartment through housing loans. The builder is now close to handing over the possession of the properties and there is one issue at this point. 1) There has been around 3-4 Lakhs that's been collected by the promoter for each of these properties towards Sales & Service Taxes. This community development at the curre...

Question asked by Mr Subedar from UK: As a British citizen but born in India /Gujarat can i buy a property in Mumbai if yes then please show me some new properties in Mumbai in a good locality. Thank you for your information Mr. H. Subedar. Uk Vatsala Answers: If you are 1) a person of Indian origin (father, grandfather or great grandfather should have been an Indian) or 2) if you have held an Indian passport, then you can purchase an immovable property in India. You cannot purchase immovable property in India simply because you were born here, as it does not confer citizenship. For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by oci (canadian citizen of indian origin): I am oci (canadian citizen of indian origin) holding oci status. can we buy a large plot of land and make a farmhouse? can we buy waste land that is not being used for agriculture and turn it fertile? I basically want to return to india & live I can invest up to 400,000$ thanks for your inputs. Vatsala Answers: A person who is not a resident of India cannot purchase farm lands anywhere in India according to the Foreign Exchange Management Act. A resident is a person who resides in India for at least 182 days a year. An overseas citizen of India is no exception to this rule.However as a person of Indian origin, you can purchase other lands in India that are not agricultural lands. For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Rajesh Padmanabhan from Los Angles, California: Hello Vatsala Madam, My name is Rajesh Padmanabhan, I'm basically from chennai and I'm currently living in Los Angeles as an NRI. I currently in need of a Legal consultation and support from a Real Estate expert lawyer in India who could help us with our current situation. Myself Rajesh Padmanabhan, my brother Mohan Padmanabhan who too lives here in CA are and our Mother Meera Padmanabhan who is living in chennai have bought individual homes in a Gated community in chennai outskirts, the gated community is called PARSN's "RENASCENCE" and it has been promoted by Parsn Urban Development Ltd. 129 Parsn Villa, Luz Church Rd., Chennai, , India ()4424991734, 4424995988 fax, http://www.parsn.com The size of the land of each of this three individual house is varying in size from 2200 sqft - 3000 sqft approx. After registering the land from the promoter Parsn to our individual names in early 2006 through ou...

Question asked by Divya k c from BangaloreUS: Respected Mam, My name is Divya k c, I'm basically from Kerala and I'm currently living in Bangalore. I am currently in need of a Legal consultation and support from a Real Estate expert lawyer in India who could help us with our current situation. Myself Divya k c, my Husband Sinoj Nair who too lives here in Bangalore have bought an Appartment in Bangalore, from the Multi Group Builders. The size of the land is 1350 sqft approximately .After registering the appartment to our individual names in late 2007 ,we singed a construction agreement with the promoter to build and deliver the house to us. We have financed the appartment through housing loans. The builder is now close to handing over the possession of the properties and there is one issue at this point. 1) There has been around 3-4 Lakhs that's been collected by the promoter for each of these properties towards Sales & Service Taxes. This community development at the c...

Question asked by Mr Rajesh Padmanabhan: My name is Rajesh Padmanabhan, I'm basically from chennai and I'm currently living in Los Angeles as an NRI. I currently in need of a Legal consultation and support from a Real Estate expert lawyer in India who could help us with our current situation. Myself Rajesh Padmanabhan, my brother Mohan Padmanabhan who too lives here in CA are and our Mother Meera Padmanabhan who is living in chennai have bought individual homes in a Gated community in chennai outskirts, the gated community is called PARSN's "RENASCENCE" and it has been promoted by Parsn Urban Development Ltd. 129 Parsn Villa, Luz Church Rd., Chennai, , India ()4424991734, 4424995988 fax, http://www.parsn.com The size of the land of each of this three individual house is varying in size from 2200 sqft - 3000 sqft approx. After registering the land from the promoter Parsn to our individual names in early 2006 through our PoA and then we singed a construction agreem...

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 Chetan from Dallas, Texas: Whether Service tax is liable under construction of complex service [section 65(zzzh)] on builder, promoter, developer or any such person— (a) Who gets the complex built by engaging the service of a separate contractor, and (b) Who builds the residential complex on his own by employing direct labour? Vatsala Answers: Clarification a) In a case where the builder, promoter, developer or any such person builds a residential complex, having more than 12 residential units, by engaging a contractor for construction of the said residential complex, the contractor in his capacity as a taxable service provider (to the builder/Promoter/developer/any such person) shall be liable to pay Service tax on the gross amount charged for the construction services under construction of complex service [Section 65(105)(zzzh) b) If no other person is engaged for construction work and the builder/promoter/developer/any such person undertakes construction works on h...

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 Rahul Saraswat from US: I booked a flat 18 months back. The flat is now ready for possession; I need to do registration of the flat. Can you please suggest whether the Service tax and VAT are applicable to me? Do i need to pay service tax to the builder? There are 56 flats in this complex. Mr. Rahul Saraswat, USA Vatsala Answers: In majority of cases, service tax and VAT will be applicable. It does not depend only on the number of flats but on whether the builder has outsourced the construction activity or not. Vatsala For more information, kindly visit at Real Estate India or Online Real Estate Video .

Question asked by Mr Amalraj from Bangalore: Dear Madam, This is Amalraj. I live in Bangalore and i need your advice on Transfer of property. I do own a small piece of land measuring 29' x 18' with House constructed on the land. The Original owner of the land had made Irrevocable GPA on my Mother's name for the land and based on that construction was carried out and after death of my Father, my mother decided to register the House in my Name for which the Khata was as Holder (in my Mothers' name) and with consultation of an advocate GIFT Deed was done in My name at Domlur Registrar Office in Bangalore and after that property tax was paid every year as usual. Since the Property Tax receipt was still in Holder's name, I requested the Corporation Office where i used to pay Property Tax to change the receipt to my name giving them a copy of the Gift Deed done. It is now after this I was told that the person Holding GPA and being a Holder in terms of Khata cannot make a ...

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 .