How To Sell An Under Construction Flat Which is Without A Possession Letter & Registration?
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- čas přidán 1. 08. 2024
- Selling an under-construction property in India can be a complex process that requires careful planning and execution. As a seller, you need to navigate multiple legal and financial hurdles to ensure a smooth transaction.
This video will present to you the essential steps that one needs to follow to sell an under-construction property. Being aware of the steps will help you deal with multiple agencies better.
It will cover topics such as transfer fees, administrative charges, prepayment penalties, and income taxes liability that will come with the sale.
By the end of this video, the viewer will have a better understanding of the typical steps involved to sell an under-construction property.
Topics
00:00 - Background
01:24 - Typical Situation
02:55 - Meeting The Builder
03:41 - Meeting The Bank (Lender)
04:42 - Meeting A Broker (Real Estate Agent)
05:16 - The Buyer
08:48 - Sale Deep (Registered)
09:12 - Loan Prepayment (By Seller)
09:20 - POA (Power of Attorney)
10:01 - Final Payment (by Buyer) & Property Registration
10:28 - Conclusion
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Thanks for explaining. Needed to watch at 1.25x or 1.50x .
Sir if booking price is 10 lac, present gov price is 20 lac & selling price is 30 lac. How much income tax required to be paid in similar situation?
Sir What about the GST. Does seller and buyer both have to pay GST or whatever GST has been deducted till date, remaining to be paid by the buyer.
We had a flat in a society which is under redevelopment and still under construction. What to do if we want to sell that flat?
Hi Sir. Nice video. I was finding similar thing on internet from many days.
I am following most of the steps from it.
I am concerned about GST. The seller has already paid. (Mr. A) GST.
I have already made a down payment to seller 15%.
Should I be paying GST also alongside Stamp Duty.
The flat is 95% complete with expectation of issuing occupancy certificate in next 4 months.
This case is from Pune, Maharashtra
Sirji isn’t it obligations by RERA to register the flat if the buyer pays a amount more than 10% say the booking amount
Hello I am looking to sell my under construction flat in Kolkata. It is already registered in my name, with full payment. Do I need to pay transfer fee or any charges to builder?
Sir, Is it compulsory to register tripartite sale deed first and then again to register property registration in the name of new buyer. can you explain from the point of view of builder.
Can't builder first register the agreement with the first party then the first party after getting noc feom buolder can sell it to other party?
Registering the tripartite sale deed is a must, I think. The builder usually initiates this process. Later, the new buyer's property registration happens. Builder's NOC can allow first party to sell to another.
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