Quote:
Originally Posted by kiran parmar
Flat construction is stalled.Don see anyone working on site.I am a NRI.Most of the buyers are NRI so don't think anyone chasing him.
I need your advice like what can be options for me in this case.Like can I cancel the booking as I have not taken the possession yet and use the stamp duty for buying other property.Or the rate has already rose 10-15%.Shall I wait till possession and see if something concrete solution comes for road and then sell the flat to someone.
Kiran
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Kiranbhai, if you sell the flat within 3 years of possession, you will be charged full tax as per your income slab. Only after 3 years of possession, the long term gains apply, and you can invest that profit in other real estate for tax exemption. So in your case, my suggestion will be to wait and watch, as it will be otherwise a losing scenario, since you have waited so long.