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Flat registration process, Bangalore

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Flat registration process, Bangalore

Last updated: August 6 2019
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  • Flat registration process, Bangalore

    Hi,
    We have booked new flat in bangalore.

    ll be doing agreement by giving 20% of property value.

    My question builder mentioned
    at the time of registration,
    we have to pay gov registration amout some x rs and legal charges.
    Along with that 7.5% tax on total flat value.


    What is this 7.5% tax amount. Is it for builder or government only have to pay while registration.

    Please any information.


    Regards,
    Soumya,
    Bangalore.
  • #2

    #2

    Re : Flat registration process, Bangalore

    I think its 6% only and not 7.5%.
    From Departments of Stamp and registration:-
    KAIGR

    3
    Agreement relating to sale of immovable property





    (i) with possession
    5(e)(i)
    5%
    I-Note 7(a)
    1%

    (ii) without possession
    5(e)(ii)
    0.1% on market value equal to the amount of consideration Min.500, Max.20,000
    I-Note 7(b)
    Rs.20

    So at the time of agreement you need to pay .1% while at the time of possession you need to pay 6%.
    Thanks,
    Sandeep

    Comment

    • #3

      #3

      Re : Flat registration process, Bangalore

      Originally posted by soumyakumta View Post
      Hi,
      We have booked new flat in bangalore.

      ll be doing agreement by giving 20% of property value.

      My question builder mentioned
      at the time of registration,
      we have to pay gov registration amout some x rs and legal charges.
      Along with that 7.5% tax on total flat value.


      What is this 7.5% tax amount. Is it for builder or government only have to pay while registration.

      Please any information.


      Regards,
      Soumya,
      Bangalore.
      Dear soumyakumta,
      Ask builder, Why is he charging this 7.5% tax? He will explain you.

      It is (service tax + vat).

      There are lot of threads on this forum for the vat+service tax and you may refer them.


      Sumitra.

      Comment

      • #4

        #4

        Re : Flat registration process, Bangalore

        I also have a question -

        should the co-owner be present for the registration process? is it a must?

        What if the co-owner could not be available for the registration process?

        Comment

        • #5

          #5

          Re : Flat registration process, Bangalore

          Co-Owner should be present for the registration process, as the co-owner also needs to sign the sale deed along with owner and builder representative.

          Comment

          • #6

            #6

            Re : Flat registration process, Bangalore

            Hello Friends - I need help with something.



            I have a flat and I completed the payments. Now the builder is asking me to take the handover. But I dont have any plans to live in this apartment, so I would like to sell it.



            Now my question is, do I pay the registration charges and register it on my name or register directly on the buyer's name?



            Thanks for your help.

            Comment

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