Sale of house
HAMIDA
(Querist) 08 February 2012
This query is : Resolved
HI
ON 30THJUNE 2011 MY FRIEND BOUGHT A HOUSE AND SHE WANTS TO SELL IT NOW ..PLS TELL ME IF IT IS MAHADA PROPERTY WAT COULD BE DIFFICULTIES SHE WOULD FACE ?HOW MUCH TIME SHE HAD TO WAIT TO SELL THIS HOUSE WAT ARE TAX OR LEGAL ASPECTS SHE CAN FACE? ALSO SHE WANTS TO BUY A NEW HOUSE WITH THE SELL AMOUNT.
WAITING FOR REPLY
THANK YOU
ajay sethi
(Expert) 08 February 2012
is the flat in MHADA society ? if she wants to sell the flat advisable to approach the society for NOC .
cjeck the bonafides of buyer .
you have to identify falt you desire to buy with sale proceeds . have agreement drafted and vetted by lawyer . satisfy your self about title of the property .
A V Vishal
(Expert) 08 February 2012
WAT ARE TAX OR LEGAL ASPECTS : It will be short term capital gain and liable to tax at the highest slab viz.30%, there is no exemption for STCG unlike LTCG where capital gains can be invested to save tax.
Raj Kumar Makkad
(Expert) 09 February 2012
I do endorse the views of both experts.
V R SHROFF
(Expert) 09 February 2012
take MHADA in confidence, as they have diff rules.
prabhakar singh
(Expert) 09 February 2012
Visit MHADA they can guide you better Technic you are looking for.
