I purchased a residential apartment in Gurgaon in 2006. The builder buyer agreement specified the assigned apartment and I paid 95% of the amount upfront (took a housing loans) and since then have paid a EMI on housing loan as well. As is usual, the construction was delayed. Finally, I got the property registered in Dec 2011. Now, I would like to sell this property. My query is whether I will be eligible for LTCG? I do feel that having paid the bulk of the amount upfront, consideration could be given that I held the property for nearly six years. Would any further documentation from the builder help bolster my case? I will be grateful to know your views and suggestions. regards, Ramesh Singh.
Grateful for the concise and clear clarification. I would just add one more query - the builder is willing to give a certificate of handover/possession in 2009 June. Will this be of any help? best regards, ramesh
Yes,in my opinion you should be entitled for the benefits of LTCG,provided you get such letter of possession /handover in June'09.However ,better check,whether the property was ready for giving possession ,by the said date i.e.June'2009?