Hi All,
I have booked a 2BHK flat in kharghar - sec 10 and its underconstruction.Possession in Dec 2011. I have not done the registration yet. 40 % work is completed and accordingly I have made the payments to the builder( full white money). My question is If i want to sell this property what is the procedure and how long does it takes.Also can i sell the property without doing the registration. What are the formalities to be completed for selling such property.

Working abroad and can be in mumbai for 1 month only.NEED URGENT ASSISTANCE.

Your responses will be appreciated .

Regards
Khan
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  • Originally Posted by rsrsin
    I believe that the cost of indexation will apply where possession is received; so in the case of under construction sale (assuming builder permits, which is rare), the sale price minus cost paid till the sale date would be the capital gains. While accountant will know accurately on the exact deductions if any.


    Thank you for your reply.
    I am not able to understand what u want to convey.
    I request u to advice me in layman terms as to profit will be only on 30% Or complete cost of the flat.
    We can leave aside the taxations for my better understanding.

    Thanks again.
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  • Originally Posted by alpha123
    Thank you for your reply.
    I am not able to understand what u want to convey.
    I request u to advice me in layman terms as to profit will be only on 30% Or complete cost of the flat.
    We can leave aside the taxations for my better understanding.

    Thanks again.

    Profit may end up being sale price minus cost price (i.e. what one has paid to builder/seller till prior to the sale). Funds paid by buyer towards purchase is not considered as profit - that is own/principal contribution
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  • Originally Posted by alpha123
    Digging up this old thread.
    My query is :
    For example (for sake of simplicity)
    - I booked 1000 sqft flat for 4000 PSF when project was pre - launched. And paid 30% Down payment that is 12 Lacs.
    - The builder launches the project and I find a buyer at 5000 PSF.
    How much will be my profit in this case?
    Will it be
    5000x1000x30% ie 15 Lacs minus 12 Lacs (which I paid on booking) = 3 lacs
    OR
    It will be difference of the flat cost that is,
    5000psf x 1000 sqft = 50 Lacs (selling price)
    Minus
    4000psf x 1000 sqft = 40 Lacs (buying price)
    Which equals to 10 Lacs.

    How will be the payments made as it will be CLP.

    Hope I m putting my query properly.
    Please advise.

    I believe ur profit would be 10 lakhs in this case.. U need to ask the buyer to pay u 22 lakhs (12 lakhs paid by u + 10 lakhs appreciation). Remaining 28 lakhs, he will pay to builder like u wld hve paid otherwise..
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  • Thank u 1stbuy, my doubt is clear.
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