Buying a pagadi property

This query is : Resolved 
 

Online (Querist)
07 April 2021

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


sankar narayanan Online (Expert)
08 April 2021

For all your query better to consult a local lawyer

kavksatyanarayanaOnline (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.

LatikaOnline (Querist)
09 April 2021

Thanks a lot Sankar Narayana sir...
Thank you Kavksatyanaeayana sir for your valuable guidance.



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