Vinod Chaugule
30 January 2015 at 12:22
I have paid a token amount of 1 Lakh rupees for book a flat .But due to some reason I have cancelled the booking & asking for the refund of token amount.
The builder is ready to refund the amount after 20% deduction.
But no such rule was mentioned on the booking form which I filled at the time of booking.
Still do the builder have any rights for deductions ?
Please advice
Vinod Chaugule
jagannathansinger
30 January 2015 at 10:52
Sirs,
2013 August I sold a land property for Rs.90 lakhs which I bought in 1985 for Rs.5000.
Of the Rs.90 lakhs sale realization, the net realization was Rs.87,96,944.00 after deducting the following :
Cost of acquisition with indexation 47,326
Cost of improvement with indexation 65,730
Brokerage for selling the land property 90,000
--------------
Total deduction claimed 2,03,056
Net realization on sale of land property. 87,96,944
I invested in Capital Gain Account before 31.7.2014 the entire amount of Rs.90,00,000/- with Canara Bank, T. Nagar, Chennai.
2014 August I bought a land with house including registration charges for Rs.87,50,000 which I paid out of my CG Account.
In addition, brokerage paid Rs.1,00,000/- to the real estate broker who facilitated the purchase out of my personal account as bank would not pay this from CG account.
Thus total investment was Rs.88,50,000.
The house that I bought required the following improvements to make it habitable (not additional structure, but only improvement to the existing building :
- providing steel protective grills to the doors, balcony, etc.,
- raise the height of the compound wall from 4ft to 5.50’ high.
- build a 2-foot wall to the open well and grill-cover it.
- give a complete painting/white washing, etc.
These cost me around Rs.2,50,000/- but the bank refuses to make payment from my CG Account as according to them improvement expenses cannot form part of the cost of the house purchased.
I was given to understand that cost of improvement/renovating the house is allowed under both Sec 54 and 54F. My bankers say these sections apply only for the construction of a new house and not for the house bought.
I solicit your valuable guidance in this matter so that I can again approach Canara Bank to release payment of the above improvement expenses from my CG Account.
Sincere thanks and regards,
Jagannathan Singer
T. Nagar, Chennai 600017
944 427 9876
ruco@vsnl.com
debasis MANDAL
29 January 2015 at 21:36
I want to know what should be the guiding law for division of property of a deceased intestate married male having 4 sons and 3 daughters before the enactment of Hindu Succession Act,1956 ?
Kishore
29 January 2015 at 20:06
Sir,
I am kishore I have problem in selling my land can anyone guide me.Actually I purchased land in 2004 from a person and registration is done by that person so sale deed is having his name.when I wanted to sell now I came to know that in revenue records some other name is there and person who did registration his name is not there in revenue records.So how can I Proceed further to sell the land
unique horn
29 January 2015 at 17:44
Dear Experts please answer my query
A Hindu joint family consist Father and 2 sons ram and lakshman. Father died intestate in 1993. In few days Partition held between 2 sons in the ratio 50:50.
At the time of partition (1993) the younger son lakshman was not married, subsequently he got married in 1995 and he was blessed by a son 'Dharma' in 1997.
Now the issue is about the prpoerties in the hands of lakshman...
1)Whether the properties in the hands of lakshman is joint with his son or the separate properties of lakshman?
2) Wheather 'Dharma' can claim share in his father lakshman properties?
Thanking you
clevyrosario
29 January 2015 at 16:58
Dear Sirs
I need some legal advice. We had purchased a tenement in a chawl in 1981 which was built by one of the person who used to cultivate the land. This land belonged to some Church society. Later on, the farmer became the owner of the land. From 1981 to 2012, we used to pay rent to him and we have the receipts for that.
In the latter part of 2012, this farmer sold the land to a developer and informed us that we have to deal with the developer directly. This developer is saying that the land comes under the SRA scheme whereas we the original inhabitants are disputing that. This place was not even in a dilapidated state nor was hindering the development of new facilities. It was just a plot of land with many chawls.
We want to negotiate with the developer to give us atleast 350sq feet for single room tenements and 700 sq feet for double room tenements. But he is adamant and insists that all will get 350 sq feet only. What can be done by us to prevent this injustice? How can we find out whether this area really comes under Slum Rehabilitation Authority scheme or not?
Since I am a novice in the above mentioned scheme, I would really appreciate your advice in the same so that I can take the correct decisions. Thanks in advance for your co-operation.
khananbar
29 January 2015 at 15:46
Dear sir, need your suggestion with regards to a loan my father held with sbi bank in ichapur am, srikakulam district.My father was in need of funds for his business so he gave his property documents and borrowed inr 20000 of which he repaid only Rs.4000/- and due to financial crisis he could not pay the This was in the year 1997 Now when we contacted the bank they are not able to help and saying that they do not have the documents as the bank premises were changed three times. Also at that time the bank used to keep physical documents and it was not computerised so they are not able to pull anything with the loan account no. All we have now is the xerox copy of the patta and loan account book. We are also not sure if it was a mortgage or business loan. Need your advice on the following. 1 What happens in this case to the property? 2 If we want to claim how to go about it? I wanted to check with the Bank before I go further on this. I will really grateful to you if you can given me your valuable suggestion I would really appreciate
anil kshatriya
29 January 2015 at 15:40
Hello,
I have booked a flat in Karjat and my possession is delayed by almost 30 months even after repeated reminders to builder. Now builder is trying to form a Housing Society without giving possession. Can he do so? If so what would be consequences flat owners will face. Will builder wash his hands from the Project by handing over the substandard work and delay possession of flats?
Waiting for your reply
anil kshatriya
K Rajagopal
29 January 2015 at 14:41
One of my flat owner has, without the consent of other flat owners, leased out the terrace portion of the building to an internet service provider for some monetary gains. We have issued legal notice for the same citing criminal tresspass. In the circumstances, I propose to sell the flat. Should I need to disclose the criminal tresspass in the common space to prospective buyer.
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2nd home loan
Sir
I am an employee of LIC OF INDIA
gross salary per annum is 740000.
(Q.1)In january 2015 I have taken 80% completed flat for rent purpose from LIC HFL loan at 10.1 % interest of rs.177000Emi -19594. Emi starts from february 2015.FLAT COMPLETES FOR POSSESSION IN FEBRUARY 2015 END.CAN I ELIGIBLE FOR IT REBATES.
(Q.2) I want to construct a house for residence purpose (2nd home loan)in march 2015and applying loan from LICHFL loan of rs 1200000. Here for LIC employees lic of India is giving loan on concessional rate of interest of 5.5% from LICHFL .AM I ELIGIBLE FOR INTEREST AND PRINCIPLE REBATES FROM INCOMETAX SEC 24 and sec 80C FOR TWO HOMELOANS EMIs.WHAT ABOUT THE REGISTRATION CHARGES FOR THE FLAT.
PLEASE GIVE ME CLARIFICATION I AM IN CONFUSION THAT 2 ND HOME LOAN IS BEST OR BAD FOR THE PURPOSE OF IT.
PLEASE PLEASE GUIDE ME CLEARLY
THANKS®ARDS
SRINIVASA