Buying a pagadi property

Latika (Querist) 07 April 2021 This query is : Resolved
Hello,
I have sold my house in Nov 2019 and now wish to buy another property before Nov 2021. To avoid property gain tax I'll have to buy the house asap.
Recently I have shortlisted a pagadi property in Andheri west. The property is in custody of the original owner.
Will there be a sale deed?
Will the transaction be registered?
How much would be the stamp duty n registration charges?
Please guide...
Thanks n Regards,
Latika

Follow Query

Report Abuse

Quick Summary

Latika is looking to purchase a Pagadi property in Andheri West to avoid capital gains tax, needing to complete the transaction before November 2021. She seeks guidance on the sale deed process, registration, and associated stamp duty and registration charges. Advice suggests consulting a local lawyer and proceeding with a registered sale deed, with stamp duty in Maharashtra typically being 5% plus local body charges.

Sankaranarayanan (Expert) 08 April 2021
For all your query better to consult a local lawyer

Message likes : 1 times

kavksatyanarayana (Expert) 08 April 2021
You can buy it from the original landlord/owner by registering a sale deed in your favour. The Stamp duty varies from one State to another State. To my best, the stamp duty is Rs.5% + stamp duty under the local bodies Act if there is such act in force in Maharashtra and Registration fee.

Message likes : 1 times

Latika (Querist) 09 April 2021
Thanks a lot Sankar Narayana sir...
Thank you Kavksatyanaeayana sir for your valuable guidance.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries