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120 Meter Buitup Houses in Sector-3, Greater Noida

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120 Meter Buitup Houses in Sector-3, Greater Noida

Last updated: April 3 2017
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  • 120 Meter Buitup Houses in Sector-3, Greater Noida

    I was in NE yesterday... saw the sector -3 buildup houses.. one of my relative is looking for them...

    Local Dealer informed that they cannot be purchased currently .. is it ?

    Said that Authority has not given the possession letter to the original Allotee ??

    Fritolay ... seniors please advice
    Last edited April 3 2017, 08:51 AM.
    ............
  • #2

    #2

    Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

    Originally posted by Johny123 View Post
    I was in NE yesterday... saw the 120 meter buildup houses.. quite spacious.... one of my relative is looking for them...

    Local Dealer informed that they cannot be purchased currently .. is it ?

    Said that Authority has not given the possession letter to the orginal Allotee ??

    Fritolay ... seniors please advice
    true..
    selling and buying is going on the basis of POA. risky ha..
    Thanks

    Comment

    • #3

      #3

      Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

      hmmm..thx cookie..

      One Question

      For example in Gr. noida sector some current circle rate makes the GNA alloted flat has cost as 40 lakhs..

      Imagine the resale rate is low because of X,Y,Z issues and is costing to a buyer as 30 lakhs . Now the white money MUST go as 40 lakhs in government records... but the sellar is ok to sell in 30 lakhs ..

      How these transactions legally happen...??

      Seniors pls advice...
      ............

      Comment

      • #4

        #4

        Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

        Originally posted by Johny123 View Post
        hmmm..thx cookie..

        One Question

        For example in Gr. noida sector some current circle rate makes the GNA alloted flat has cost as 40 lakhs..

        Imagine the resale rate is low because of X,Y,Z issues and is costing to a buyer as 30 lakhs . Now the white money MUST go as 40 lakhs in government records... but the sellar is ok to sell in 30 lakhs ..

        How these transactions legally happen...??

        Seniors pls advice...
        Won't be able to comment on this.
        You have to pay anyhow the stamp charges as much.

        No matter , seller gives you in free. seller may have to satisfy IT guys the distress sell.

        other members plz respond..
        Thanks

        Comment

        • #5

          #5

          Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

          If market value of Property is x and circle rate is x+y, then u can go for registry for x only but will have to pay stamp duty on x+y. Only problem will be payment of extra stamp duty on y. Buyer and seller will have to show only the actual amount, i.e., x.

          Comment

          • #6

            #6

            Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

            Originally posted by CA Rajeev View Post
            If market value of Property is x and circle rate is x+y, then u can go for registry for x only but will have to pay stamp duty on x+y. Only problem will be payment of extra stamp duty on y. Buyer and seller will have to show only the actual amount, i.e., x.

            So bank will only give you the loan :

            On x amount's 80% ?
            OR
            On (x+y)'s 80 % ?
            ............

            Comment

            • #7

              #7

              Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

              Originally posted by Johny123 View Post
              So bank will only give you the loan :

              On x amount's 80% ?
              OR
              On (x+y)'s 80 % ?
              Banks always fund on cost or market value whichever is lower...
              So banks will fund upto 80% of x only.

              Comment

              • #8

                #8

                Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

                Originally posted by CA Rajeev View Post
                If market value of Property is x and circle rate is x+y, then u can go for registry for x only but will have to pay stamp duty on x+y. Only problem will be payment of extra stamp duty on y. Buyer and seller will have to show only the actual amount, i.e., x.
                Couldn't get...
                Thanks

                Comment

                • #9

                  #9

                  Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

                  Originally posted by CA Rajeev View Post
                  Banks always fund on cost or market value whichever is lower...
                  So banks will fund upto 80% of x only.

                  If seller buyer known to each other and are mutually agreeable, is below possible ? :

                  x= market rate which is lesser than circle rate
                  y= difference of circle rate and market rate...

                  deal on paper/ Registry done on x+y amount...

                  buyer availed higher loan amount ie. on x+y as compared to loan on x .

                  Y amount returned from seller to buyer in mutual understaning..

                  Idea is to avail more loan from bank
                  ............

                  Comment

                  • #10

                    #10

                    Re : 120 Meter Buitup Houses in Sector-3, Greater Noida

                    Originally posted by Johny123 View Post
                    If seller buyer known to each other and are mutually agreeable, is below possible ? :

                    x= market rate which is lesser than circle rate
                    y= difference of circle rate and market rate...

                    deal on paper/ Registry done on x+y amount...

                    buyer availed higher loan amount ie. on x+y as compared to loan on x .

                    Y amount returned from seller to buyer in mutual understaning..

                    Idea is to avail more loan from bank
                    NO... As i said Banks always Finance based on Cost (Transaction Value) or Market Value (As per their Valuers), whichever is lower...

                    Comment

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