Sale of fsi and capital gain
hdshardik
(Querist) 06 October 2014
This query is : Resolved
Builder has sold the ground floor unit with land to Mr x without FS I.First floor sold entire to Mr Y along with FSI WITH lumpsum amount . There is no break up of cost into area and FSI .
Ground floor owner MR X wants to purchase FSI from the owner of 1 st floor and construct the second floor on name of Mr x. They have mutually orally decided for this transaction . They have started soon construction as there is problem of leakage of water of rainy season .
Now they want to execute the agreement for sale of FSI by MR Y.
While execute agreement after completion of construction of 2 nd floor , what points to be take care in drafting of agreement ?
Is it attracting the capital gain on sale of fsi to MR X?
IS indexation available?
How capital gain exempt ?
Anirudh
(Expert) 06 October 2014
First clearly update your profile and come. Your profile says that you are studying, but you put lot of queries here, seems that you are using this LCI to serve your clients.
Further more, this query is lot of ramifications. When you say that the ground floow unit was sold with land without FSI and first floor without land but with FSI - what do you mean? Entire land was sold to the ground floor owner, while only FSI was sold to first floor owner?
Rajendra K Goyal
(Expert) 07 October 2014
Consult a local lawyer and show him all the documents.
ajay sethi
(Expert) 07 October 2014
answer queries raise b Mr Anirudh
T. Kalaiselvan, Advocate
(Expert) 11 October 2014
First clear the question raised by expert Mr. Anirudh and then come back with your more academic queries.
