Q:property registered in jan 2015. Do I need to pay property tax for 2014-2015 as well or just for 2015-2016. I heard that the builder has not paid tax for 2014-2015. Please advise if I have to pay for earlier year as well.
Latest Answer: Hi Manohar, As far as I know it is the builder who hae to pay the property tax for the financial year 2014 - 2015 and you have to pay for 2015-2016. I would advice you to take suggestions from your legal expert before paying the property tax.
Q:According to data sourced from Director General of Registrations, property sales registrations in Mumbai saw a sharp year-on-year rise of nearly 30% in November.
Latest Answer: Right Shaunak,
This will be in addition to the 10-11% of agreement value that buyers pay in form of multiple levies, and another 5-10% of the agreement value is paid to developers on possession for various amenities. As a result, a buyer requires to pay around 20% of the agreement value through his/her own savings, as housing loans do not include these payments.
