135,332+ Members
   Get Started   Today's Posts Search Today's Posts Mark Forums Read
IREF® Real Estate in India - Property Discussion
IREF® - Indian Real Estate Forum > Real Estate Open House > Indian Property Laws > Can I buy real estate from parents
Please see and share our IREF promotional video!
Reply
 
LinkBack Thread Tools Search this Thread
Old October 8 2012, 12:09 PM   #1
New Member
 
Join Date: Oct 2012
Posts: 1
Likes Received: 0
Likes Given: 0
Default 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

  Reply With Quote
Old October 12 2012, 03:45 PM   #2
Member
 
Join Date: Aug 2009
Posts: 124
Likes Received: 10
Likes Given: 1
Default

you have to consider Long Term Capital Gain tax they will have to pay if they sell house to you.
  Reply With Quote
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Join IREF Now!    
Related Threads
Wish to buy plot/villa for my parents
Real Estate Stock Price reflect Real Estate Growth Story !!!
Can we buy part property from own parents


Tags
buy, estate, parents, real
     

Real Estate in India | Delhi - NCR | Gurgaon | Noida | Greater Noida | Mumbai | Pune | Bangalore | Chennai | Kolkata | Hyderabad | Ahmedabad | Goa
Ghaziabad | Faridabad | Chandigarh | Jaipur | Lucknow | Nagpur | Bhubaneswar | Coimbatore | Indore | Kerala | Surat | Vadodara

Home | About IREF® | Forum Rules | Real Estate Glossary | Terms and Conditions | Copyright Infringement Policy
Copyright © 2006-2014 www.indianrealestateforum.com All Rights Reserved.


"..", ".."India