Ravi Kumar, Apartment Resident
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Procedure to resell flat in mumbai
Q: Dear Sir, I have flat in mumbai and i m planning to sell it off.I would like to know what is procedure to sell property in mumbai. I mean , will there be any transfer charges to be paid to builder and also what would be registration and other charges. I would also like to know that in Mumbai selling price per sqft includes everything ( car parking. electrcitiy ,water, sweage and maintenance) Awaiting for your prompt response. Regards Ravi

Latest Answer: everything except what was asked has been answered. It would be really helpful if someone could list the steps involved. Start from when a buyer approaches and the seller agrees to sell. What are the nextp steps (assuming brokers and agents are not involved). Assume this house is in Panvel and the conveyance deed is not yet registered. Also assume home loan is involved.

IS there any TDS for reselling the property
Q: I have property in Prestige and want to resell it , i would like to know is there any kind of tax is given or deducted to government. If yes , then please do let me know complete process

Latest Answer: 1% Tax Deduction (TDS) On Property Sale From 1st October, 2012 have been imposed against purchase of immovable property (other than agricultural land). 1% tax on the total amount if the value of the property is more than Rs 50 lakh in case of urban areas and Rs 20 lakhs in case of other areas. I do not have any idea whether it is also applicable for resale property.

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