Legal Question in Real Estate Law in India

Hi
I have a flat in Bangalore, purchased in 2006. During that time the builder suggested me to go for undivided registration to get the flat registered which costed me less. so we did a absolute sale deed and construction agreement done. after that policies changed and it was made mandatory to get the flat registered in my name. some of my other flat owners have already got the flat registered in their names. Now i am trying to get the Flat registered in my name but i am facing challenges with the Builder. the current Khatha is in his name. my current Electricity bill also comes in his name.
Now when i am trying to register he is asking for money which he will incur due to Calpital Gain Tax, he is asking me to deposit this money in his bank using his PAN number. i know i will have to pay stamp duty of around 6.6% of total built up area on Registration Value. but do you think it is correct for me to pay Capital Gain tax also which my builder incurs. i have taken a home loan and this was already disbursed to builder in 2 payments in 2006 only. due to personal issues my other falt owners also have paid this captial gain tax. please advise

Asked on 2/28/13, 12:51 am

Shrichand Nahar S.V.Nahar, Advocate

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0 attorneys agreed

If change in rule required registration of a fresh document, then there may not be any option but to go for fresh document.

Capital gain issue may be tackled by skillful drafting.

Answered on 10/06/13, 12:57 am

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