Can I buy real estate from parents - Indian Real Estate Forum

oranjee · 08-10-12

Hi

I intend to buy my one floor in my parents' multi-storeyed home. The primary purpose is to save tax. I do not intend to buy property straight away in the metro I am staying in.

Can you please advise if this is legal and if banks would process the loan?
It would also be helpful if anyone can enlighten on any other legal ramifications etc.?

Thanks

livelife123 · 12-10-12

you have to consider Long Term Capital Gain tax they will have to pay if they sell house to you.

08-10-12	#1
oranjee New Member Join Date: Oct 2012 Posts: 1 Likes Received: 0 Likes Given: 0	Can I buy real estate from parents Hi I intend to buy my one floor in my parents' multi-storeyed home. The primary purpose is to save tax. I do not intend to buy property straight away in the metro I am staying in. Can you please advise if this is legal and if banks would process the loan? It would also be helpful if anyone can enlighten on any other legal ramifications etc.? Thanks

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12-10-12	#2
livelife123 Member Join Date: Aug 2009 Posts: 116 Likes Received: 7 Likes Given: 0	you have to consider Long Term Capital Gain tax they will have to pay if they sell house to you.