LIVE Online Course on NDPS by Riva Pocha and Adv. Taraq Sayed. Starting from 24th May. Register Now!!
The Indian Constitution Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Manoj v desai   04 February 2017

Property sale procedure

Sir I have a property the government valuation is 1 cr and the market valuation is 1.50 cr now after budget 2017 how to sale procedure take place . And how the new property investment take place the property is situate in Gandhidham Kutch


Learning

 4 Replies

Adv. Yogen Kakade (+ 91 9225510883)     04 February 2017

Sale procedure is the same.

You may sell your property at any price. But the minium charges of registration and stamp duty is to be paid on the Government valuation. And if you sell it for more than the Govt. valuation then the higher value shall be taken into consideration for the charges.

In your case if the Govt. value is 1 crore and if you sell the property for less than 1 crore then the charges shall be applied on 1 crore and if you sell it for 1.5 crore then the charges shall be applicable for 1.5 crore.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     04 February 2017

Realized capital gains and losses occur when a property is sold and triggers a taxable event also.

 

Vikram Sodha (Advocate)   06 February 2017

Hi, Manoj,

If you want to register the document of  1 crore or 1.5 crore is  solely your decision, the pre-condition is that you have to pay 4.90% stamp duty and 1% registration charges to the government as well as legal fees to your advocate, the given duty and charge are applicable to all over Gujarat so go ahead for the registration procedure.

 

 

Kyle Neon   19 September 2020

While selling your property be smart enough to crack the deal and make sure people are trusted too. Or it's better for you to take classes from https://www.proessaywriting.com/coursework/ which will help you in upcoming big deals too.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query