Buy new Property
This query is : Resolved
27 November 2023
Sir/Madam
I have foll. query regarding new housing loan-
I have to buy one Bungalow which details as follows-
> Cost of Bungalow is of Rs.75,00,000
> Housing Loan sanction is of Rs.70,00,000/-
> Sales Deed of Rs.49,00,000/-
> Property Valuation of Rs.85,00,000/-
Bank will pay to the seller of Rs.49,00,000/- and different amount of Rs.21,00,000/- in my saving bank account.
1) My question is that how i will to seller diff. amount by Cheque or Cash.
2) What is the sales consideration for Seller for capital gain working Rs.49 lacs or 70 lacs?
3) if seller not accept cheque then what is the solution?
I have foll. query regarding new housing loan-
I have to buy one Bungalow which details as follows-
> Cost of Bungalow is of Rs.75,00,000
> Housing Loan sanction is of Rs.70,00,000/-
> Sales Deed of Rs.49,00,000/-
> Property Valuation of Rs.85,00,000/-
Bank will pay to the seller of Rs.49,00,000/- and different amount of Rs.21,00,000/- in my saving bank account.
1) My question is that how i will to seller diff. amount by Cheque or Cash.
2) What is the sales consideration for Seller for capital gain working Rs.49 lacs or 70 lacs?
3) if seller not accept cheque then what is the solution?
27 November 2023
What is the government valuation for stamp duty purpose.
27 November 2023
Sir,
We will pay stamp duty as per government valuation I.e 49 lacs
We will pay stamp duty as per government valuation I.e 49 lacs
27 November 2023
In such a case for capital gains working it's 49 lacs.
Legally cash payment not allowed for more than 20,000 for property purchase.
You have to choose the mode required by the seller.
Legally cash payment not allowed for more than 20,000 for property purchase.
You have to choose the mode required by the seller.
27 November 2023
Sir,
Thanks for prompt reply
Seller is confusing for if payment 49 lacs pay by bank directly and remaining amount will received by cheque or ipms!! Then what is the sales consideration.
Seller asking to us that sales Deed is for 49 lacs and total I will be receiving 75 lacs, how I will convince to him.
Thanks
Thanks for prompt reply
Seller is confusing for if payment 49 lacs pay by bank directly and remaining amount will received by cheque or ipms!! Then what is the sales consideration.
Seller asking to us that sales Deed is for 49 lacs and total I will be receiving 75 lacs, how I will convince to him.
Thanks
29 November 2023
Please clarify me sir today.
I have to take action again it.
I have to take action again it.
29 November 2023
We can't reply such queries as it's not legal.
29 November 2023
Can we pay local tax based on property valuation amount i.e 85 lacs instead of 49 lacs??
29 November 2023
Yes you can pay no problem.
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