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Paperwork cost for Buying a Second Hand House

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Paperwork cost for Buying a Second Hand House

Last updated: October 24 2016
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  • Paperwork cost for Buying a Second Hand House

    I'm planning to buy a 5 year old house near Banaswadi. Do I need to pay the TAX and Stamp duties? forgive me for the silly question. Any response is highly appreciated
  • #2

    #2

    Re : Paperwork cost for Buying a Second Hand House

    Property tax upto date has to be paid by the current owner - seller. You have to pay the stamp duty and registration fees. Better to speak to a good lawyer and do a thorough legal verification.

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    • #3

      #3

      Re : Paperwork cost for Buying a Second Hand House

      You have to get encumbrance for the property and get it checked by the lawyer, you have to pay stamp duty and fee on the basis of guidance value, The seller needs khata form [the number I forgot may be form 16] to sell which he gets only after paying all taxes.to BBMP.

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      • #4

        #4

        Re : Paperwork cost for Buying a Second Hand House

        Thanks for the Guidance. Any leads to reliable lawyer is welcome. so my understanding is 5.6% for stamp duty and 1% of registration fees. Which would addup 7% of the property value.

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        • #5

          #5

          Re : Paperwork cost for Buying a Second Hand House

          Can any body suggest on buying commercial property of b Katha due to under ground shops are not in plan or approval I. E unauthorised construction shop can be able to covert to a Katha once akrama sakrama comes. Property is six floor building with 70 commercial units or shops or office

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          • #6

            #6

            Re : Paperwork cost for Buying a Second Hand House

            Originally posted by eresh306 View Post
            Can any body suggest on buying commercial property of b Katha due to under ground shops are not in plan or approval I. E unauthorised construction shop can be able to covert to a Katha once akrama sakrama comes. Property is six floor building with 70 commercial units or shops or office
            There is no guarantee that Akrama Sakrama will come into effect.. if you are buying, it is at your own risk.. is the B-khata only because of underground shops? was the land at least A khata? does the building have sufficient setback, parking space? what is the FAR of the building? a commercial property with 70 units will run into multi-crores.. if you are putting in black money, that's your choice.. but if white money, then think twice if not clean

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            • #7

              #7

              Re : Paperwork cost for Buying a Second Hand House

              sgeorge thanks for ur suggestion. Do you have any idea of commercial property in bangalore for good returns.
              Last edited October 16 2016, 08:43 AM. Reason: User tagging.

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              • #8

                #8

                Re : Paperwork cost for Buying a Second Hand House

                Yes you need to pay the tax and Stamp duties

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                • #9

                  #9

                  Re : Paperwork cost for Buying a Second Hand House

                  Originally posted by sgeorge

                  There is no guarantee that Akrama Sakrama will come into effect.. if you are buying, it is at your own risk.. is the B-khata only because of underground shops? was the land at least A khata? does the building have sufficient setback, parking space? what is the FAR of the building? a commercial property with 70 units will run into multi-crores.. if you are putting in black money, that's your choice.. but if white money, then think twice if not clean
                  Land is a Katha only, it's b Katha due to unauthorised construction of shops which is supposed to be parking. No parking space. Open space beside to Road n in front of building is for parking. FAR means. Plz can you send me pvt msg.

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