Vik 03 October 2015
Any direction and help is apperciated to the question below:
I bought a property from reputed builder which was a mortage apartment out of 1200 apartment. The apartment was kept on mortage by the builder.
My Question is:
Can a builder sell a mortgage apartment?
Is the Service Taxes applicable on mortgage aprtment? Do I have to pay it to builder?
T. Kalaiselvan, Advocate (Advocate) 10 October 2015
The mortgage apartment term is not understood. In the interest of opinion, please confirm if the mortgagor has permitted the builder to sell the apartments before discharging the entire loan amount or whether the apartment to be sold is free from mortgage.
As far as the service tax is concerned, it has to be paid for the building being consructed and handed over possession.
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