Legal Question in Real Estate Law in India

My brother wants to buy my flat in Thane.

1.Do we have to register the property or a simple transfer deed would be fine

2.Do we have to take the NOC from the bank as there is a mortgage on the property.

3Do we have to inform the society of the sale.

4.What are the tax implications for me if the property was purchased at 8 lacs in 2004 and the sale is being executed at 24 lacs as on date


Asked on 6/03/10, 6:01 am

1 Answer from Attorneys
NAGA SRINIVAS RAO

1. Yes, you have to register the property and charges applicable is gift deed.

2 . No

3 . Yes

4. You brother agrees to pay the tax dues, you are not to worry.

Read more
Answered on 6/03/10, 6:33 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India