Selling & Renting FAQ's

Who is a Non-Resident Indian (NRI)?   Who is a Person of Indian Origin?   What are the permissions required when one is in the process of acquiring immovable property?   Are there any formalities or forms to be filled/filed when either the Sale Deed or transfer documents is to be executed?   Does registration of any Sale Deed or transfer documents attract any payment of statutory levies/duties?   Does one register the sale/transfer documents?   Does one have to pay any amount for registration of the sale/transfer documents?   Are any concessions available under the income tax laws with regard to profit on sale of residential property?   Who is entitled to such concessions?   Is there a minimum holding period for such property before transfer to be eligible for the concessions?   What is the nature of assets in which the sale proceeds should be re-invested by the assessee to avail the exemption?   Is there any time limit for such investments to be made?   What are the restrictions on transfer of such newly acquired or constructed property or long-term capital asset?   Are there any concessions in the income tax laws for investment of capital gains on transfer of any other capital asset if the gains are re-invested in a residential property?Is there any time limit for making such an investment?   What are the restrictions on transfer of such newly acquired or constructed property?   What Are Carpet Area, Built-Up Area & Super Built-Up Area?   What is Valuation?   What are the benefits of Valuation?   What constitutes conclusion of the sale?   What are the procedures which are to be adopted when selling a plot of land to a promoter and going for a joint venture and what is the sharing ratio?   What are the charges to be paid while gifting a property?   What Is Leasehold Property?   What is Freehold Property?   What are the advantages of getting a document registered?   How do you inspect a property?   Do non-resident Indian citizen require permission of Reserve Bank to acquire residential/ commercial property in India?   Do foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use?   In what manner the purchase consideration for the residential immovable property should be paid by foreign citizens of Indian origin under the general permission?   Where can permission be taken for acquisition of agricultural land/plantation property / farmhouse by any person resident outside India or foreign nationals of Indian origin?   Can foreign citizens of Indian origin acquire commercial properties in India?   Can sale proceeds of property sold by NRIs be remitted out of India?   Can the properties (residential / commercial) owned by NRIs be given on rent if not required for immediate use?   What is meant by “settlement”? How does it differ from “gift”.   Can the member in a Co-operative Society transfer and/or deal with and/or dispose of in any manner as he wants his shares/interest in the Society?   What are the Acts applicable to property transactions?   Legal Checklist for selling property   Who is liable to pay stamp duty?   On what value is the stamp duty payable?   Is there any way where the value of the stamp duty could be reduced?   Is Stamp Duty required to be paid when a flat is transferred from a relative to other relative?   What are the consequences of delay in Stamp Duty?   What are the Registration Fees?   What are the pre-requisite for a document to be registered in time?   When should a document be registered?   How can a document be registered after the lapse of four months?   Where are documents related to immovable property registered?   What are the documents of which registration is compulsory under the Indian Registration Act, 1908?   Can the gift be made of the property not in existence, i.e. of the future property ?   If you are not able to find the answer you are looking for, please send us a message by clicking here. We will address the same.