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  • Narasimha_Jayakumar

    11 Oct - 12:00hrs

    What to look for while finalizing the house purchase?

    Narasimha_Jayakumar Chief Business Officer, 99acres.com

  • Posted By: guest:

    How can CREDAI resolve my dispute with a builder?

    Posted By: Narasimha_Jayakumar

    : CREDAI regularly addresses complaints from property buyers and offers a level playing field to the developer and homebuyer community. There is an option to lodge a complaint online with CREDAI at their portal http://www.credai.org/. You can also go to the regional CREDAI chapter and register a complaint physically. For instance, the CREDAI NCR chapter is equipped to handle queries and complaints from Noida or Gurgaon. In September 2017, CREDAI NCR organised its 48th Consumer Grievance Redressal Forum (CGRF) in which 105 complaints by buyers of various projects were resolved.

    Posted By: guest:

    What action can I take against a builder who is delaying possession?

    Posted By: Narasimha_Jayakumar

    : If possession is not delivered on time, a purchaser can send a notice to the builder, claiming a refund of the amounts paid along with interest and/or damages. The buyer can also file a consumer complaint about deficiency in service as defined under the Consumer Protection Act, 1986 against the builder. The flat purchaser is required to file a written complaint before the appropriate consumer dispute redressal forum set up under the act, depending on the value of the property, or the amount of damage he has suffered. Any dispute over Rs 20 lakhs can be directly filed with the State Commission and any dispute over Rs 1 crore can be filed before the National Commission in New Delhi. In case the builder is RERA registered, the buyer can file a grievance against the builder with the state RERA authority.

    Posted By: guest:

    Where how much we should invest in real estate also how ?

    Posted By: Narasimha_Jayakumar

    : A real estate investment should be made with concrete goals in mind. Do you aim to earn rental income or would like to sell it off as soon as you can garner a good ROI? Usually, investing in an under-construction property in an upcoming locality is considered a good investment bet. However, with GST norms in place, buyers are increasingly opting for possession-ready homes. Further, you must ensure that the EMI you pay does not exceed 40% of your monthly income. You need to put 20-25% of the total cost of the house as down payment as banks do not sanction 100% loan.

    Posted By: guest:

    How can I qualify for exemptions on the Capital Gains Tax?

    Posted By: Narasimha_Jayakumar

    : Capital gains are profits from the sale of a capital asset, such as shares of stock, a business, property or a parcel of land. On the sale of a property, there are two types of capital gains taxes: Short-term capital gains: If a property is sold within two years from the date of its purchase, the profit made in the transaction will be considered a short-term capital gain. Experts advise sellers to hold on to a property for a minimum of three years to avoid short term capital gains tax since it is not feasible to save tax on such gains. Long-term capital gains: On the other hand, the profit incurred from the sale of a property after two years from its date of purchase is referred to as long-term capital gain. Long-term capital gains are preferred by sellers and tax experts since there are several ways to reduce the tax liability from such gains. Some of the ways are: o Reinvesting sale proceeds in another property o Construction of another property o Sale proceeds to be invested in capital gains bonds You must consult a tax expert know more details.

    Posted By: guest:

    What are Capital Gains on property purchase?

    Posted By: Narasimha_Jayakumar

    : apital gains are profits from the sale of a capital asset, such as shares of stock, a business, property or a parcel of land. Two types of capital gains are levied upon the sale of the property. Short-term capital gains tax is charged if the property is sold within two years from the date of its purchase and long-term capital gains tax is incurred from the sale of a property after two years from its date of purchase.

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