Anish Mazumder, Kolkata
Q: I have a property in Kolkata. I want to transfer it to my younger sister and her husband as gift deed. Is the gift deed needs to be registered for property transfer? If yes, what is the stamp duty that I have to pay to get it registered?

My replies to this discussion
I own a flat at Kolkata. Wish to transfer it on my son's name through a transfer deed. What is the best way to do or is there any other method. If so tax and other legal implications?I own a flat at Kolkata. Wish to transfer it on my son's name through a transfer deed. What is the best way to do or is there any other method. If so tax and other legal implications?
Q: Hi all, can you tell me how is the present real estate scenario of Kolkata. Is it wise to invest in it now? Please guide me which are the prime areas good for investment??

My comments to replies
Is Kolkata real estate market emerges as a retail, commercial as well as residential hub?
The presence of major worldwide luxury brands and IT firms is boosting the retail, commercial and residential market sector in Kolkata.Recently Kolkata has witnessed one of the vital greatest IT and retail ventures indicating a mushrooming retail and industrial sector within the city.
11th December 2015
The commercial market in Kolkata can also be developing on a huge scale because of demand from global companies like Tata, Infosys, Wipro etc. Previous, the demand for business spaces used to be regularly limited to Central Business District areas of Kolkata. Nonetheless, due to a gradual industrial progress, the demand for enormous commercial areas has gone down and smaller commercial models, that are comparatively low-cost, have become more preferred. Areas like, Sector V, New town and Bantala had been the developing zones for new commercial hubs.
11th December 2015

Q: Hi! What is the average capital as well as rental value of commercial space in Rajarhat? Why the Rajarhat, Kolkata real estate market in huge demand today? What is the factor behind it?

My replies to this discussion
Is it worthy to buy a 2d home in Rajarhat, Kolkata? Which builders should I consider? What are the mid-long run development possibilities there? I plan to purchase in mid-2016.Is it worthy to buy a 2d home in Rajarhat, Kolkata? Which builders should I consider? What are the mid-long run development possibilities there? I plan to purchase in mid-2016.
Q: We had purchased one unit in Tower 6 already and went to visit our property today. We have already taken care of the payments and wanted to plan the closing. We went there at 5.15pm, but were treated like some unwelcome people, and sent back at the gate, saying the office closed at 5pm. Is this the way to treat a buyer? I wish someone had guided us with some basic information and a plan to meet them the next time - instead we were disrespectfully sent away. The receptionist there (Mr.Mohan) and his boss (Ms.Devyani) went to the extent of saying you can go and complain wherever you want. I am guessing they are used to treating clients rudely so they could not see the difference. We were shocked by this experience. It is a shame and really wish people learn to respect people. They could have been gentle with us and we would have become proud members of the community and referred more people. Instead this incident left a very bad taste with us. Really wish we were not associated with such an organization. Khatheja B.

My replies to this discussion
I am interested in purchasing an apartment at PBV. If you have purchased a property here or considering it to resale, please let me know. I also wanted to know about your customer experience while dealing with their representatives.I am interested in purchasing an apartment at PBV. If you have purchased a property here or considering it to resale, please let me know. I also wanted to know about your customer experience while dealing with their representatives.
My comments to replies
I am interested in purchasing an apartment at PBV. If you have purchased a property here or considering it to resale, please let me know. I also wanted to know about your customer experience while dealing with their representatives.
Is this project approved by CMDA? It will be fine if someone confirms it. What is the cost of the project? I mean safe and this is my first property selection and I am very confused while buying property? Someone help me.
11th December 2015

Q: Godrej Prakriti for smart & premium residential 2 BHK Flats in Sodepur & lavish 3 BHK Apartments in Sodepur, Kolkata. Ranging from 885 to 1170 Sq Ft sizes with all the luxurious amenities & sober facilities. Godrej Prakriti is developed by the renowned Godrej Properties Limited, proving it best residential properties in Kolkata. Amenities: Swimming Pool Gymnasium Children Play Area Club House 100% Power Backup Very Large Landscape Gardens Joggers Park Vaastu Shaastra
Rahul

My replies to this discussion
I am bit confused regarding the price given for 2 BHK unit in Godrej Prakriti. Is it based on super built up area or covered area or floor area? I also need information about total number of towers and floors in each tower for this project?I am bit confused regarding the price given for 2 BHK unit in Godrej Prakriti. Is it based on super built up area or covered area or floor area? I also need information about total number of towers and floors in each tower for this project?
My comments to replies
I am bit confused regarding the price given for 2 BHK unit in Godrej Prakriti. Is it based on super built up area or covered area or floor area? I also need information about total number of towers and floors in each tower for this project?
Thanks Kaustav, I would like to know what is the current rate per sq ft in this project? I am looking for 3 BHK units under my budget of approx. 40 lakhs? I am basically looking for ready to move apartment? What is the status of construction on this project?
7th December 2015
Thanks dude, for the quick response, please tell me about project approvals and Which all bank is providing loan?
7th December 2015

Q: Rajwada Springfield by Rajwada Group is a smart township project of residential properties in Kolkata. Rajwada Springfield offers premium 2 BHK Flats in Narendrapur & lavish 3 BHK Apartments in Narendrapur at Kolkata. Rajwada Springfield Narendrapur is available from 1010 to 1590 Square Feet sizes along with all the luxurious amenities. Amenities: Gymnasium Children Play Area Club House Swimming Pool 100% Power Backup Very Large Landscape Gardens Joggers Park Vaastu Shaastra
Rahul

My comments to replies
I am new to this forum but have been reading lots through the threads. I need a suggestion from you guys. I have been toying with an investment option in Kolkata. I have finalized with Rajwada Springfield. Could you tell me about builder reputation and Is builder is reliable to proceed without any trouble.
I have booked flats in this project and I think builder are keeping his promise with quality material and on time possession. The group has successfully ventured into the areas of Housing and Real Estate. I think almost 10 ongoing projects is running by this builder. I really do not find any bad review against the builder.
11th December 2015

Hi Rahul, What is the rate per sq ft going on for this project?What is the status of the approvals and when is the project expected to get completed?
Hello David, Rajwada Springfield placed at Narendrapur Embypass in Kolkata. Rajwada Springfield offer 2/3 BHK flats where sizes are various from 1040 to 1575 sq. Feet. Rajwada Springfield furnishes ultra-modern amenities like Swimming Pool, games Room, Gymnasium. Currently the rate per sq ft is Rs 4075. And the project is going to complete till June 2016.
11th December 2015

Q: I am 27 yrs old professional looking for the residential apartment, but my budget is approx. Rs 30 lakh and want to buy a property in Kolkata. I have shortlisted one project Meena Srishti by GM Group. Please suggest me whether to buy or not?

My replies to this discussion
Meena Srishti is one of the best options in Rajarhat, Kolkata. The affordable residential project offers 2BHK apartments with size 800 sq ft. The project is well equipped with basic amenities to facilitate the wants of the residents. So in my point of view if you are looking for residential purpose please proceed in buying.Meena Srishti is one of the best options in Rajarhat, Kolkata. The affordable residential project offers 2BHK apartments with size 800 sq ft. The project is well equipped with basic amenities to facilitate the wants of the residents. So in my point of view if you are looking for residential purpose please proceed in buying.
My comments to replies
Thanks for providing such a wonderful information. I am very new in property search and I really like to know which are the area I can see as a premium market of Kolkata in terms of residential projects?
Meena Srishti developed by GM Group well-known developer in the Kolkata local market. The group has worked for two decades in the field of the real estate industry. His projects span the major Metros and outskirts.
8th December 2015

Meena Srishti is one of the best options in Rajarhat, Kolkata. The affordable residential project offers 2BHK apartments with size 800 sq ft. The project is well equipped with basic amenities to facilitate the wants of the residents. So in my point of view if you are looking for residential purpose please proceed in buying.
Hi, last week I visited project site personally. It was very easy to locate project site dear. The project is located strategically on the main road of Kali Park.
3rd December 2015
As per my observation, The project is well located and connected to other parts of the city. Advantages: 1. Jessor Road Railway Station 3 km 2. Chinar Park Bus Stop 0.1 km 3. Apex General Hospital 1.1 km 4. 5 minutes drive from Big bazar
3rd December 2015

Is State Bank of India is financing home loan for this project? Has the project got necessary approvals?
Yes you can take home loan from SBI and also builder has tie up with other banks like LIC, ICICI, HDFC banks and Yes the builder has taken necessary approval for this project. All document are clear there is no issue with paper works.
3rd December 2015
Meena Srishti is an ongoing project and the project is expected to get completed by June 2016. Currently, the rate per sqft going on Rs 3000 and 2 BHK apartment in this project will cost you around 26 lakhs including ST and VAT.
3rd December 2015

Q: Hi,I am interested in 2 BHK units in this project. I would like to know your opinion of this project? Appreciate your response in advance!!

My comments to replies
What is the current rate per sqft going on?
Hi, Recently I visited the project site and inquire about this project. As per builder sales executive, the current price is Rs 3200 per sq ft. When I talk about the discount, firstly he said the prices are fixed there is no discount, but later on they are ready to give some discount on per sq ft.
3rd December 2015

My replies to this discussion
DTC SOUTHERN HEIGHTS offers 2 BHK and 3 BHK apartment with toady's amenities and best-in-class specifications.It is spread on 10 acres of land with almost 1300 units in the midst of tranquil surroundings and approx 70% of open space.DTC SOUTHERN HEIGHTS offers 2 BHK and 3 BHK apartment with toady's amenities and best-in-class specifications.It is spread on 10 acres of land with almost 1300 units in the midst of tranquil surroundings and approx 70% of open space.
My comments to replies
DTC SOUTHERN HEIGHTS offers 2 BHK and 3 BHK apartment with toady's amenities and best-in-class specifications.It is spread on 10 acres of land with almost 1300 units in the midst of tranquil surroundings and approx 70% of open space.
@ Alokesh, Project launch in Dec 2014 and it has got approval from Kulerdari gram panchayat. In the general talk, the builder agree to provide Occupancy Certificate for this project.Construction started from April 2015 and foundation works is almost complete, also construction started for block 1,2,3 as off now.
9th December 2015
Currently, the rate per sq ft is Rs 2990 and car parking is the optional in this project Rs 3.5 lakhs, PLC Rs 50 per floor, Floor Escalation Charges - Rs. 15/- per Sq. Ft. From 2nd Floor, Club Charges – Rs. 50000/- for 2 BHK.Maintenance Charges – Rs. 2.5/- per Sq. Ft. per Month for 12 Months.
9th December 2015

Q: What things to look out for in the Real Estate Bill?

My comments to replies
What is escrow account? How it effect from the real estate regulation bill?
An escrow account is a transitory move by way of account held by a third party during the process of a transaction between two parties. It is a temporary account because it operates unless the completion of a transaction method, which is applied in spite of everything the conditions between the buyer and the seller is settled.
14th December 2015

Q: What basic think should keep in mind before buying a vastu-compliant home?

My replies to this discussion
In this day,vastu has turn out to be an important determining component for buying a property. Something that's alleged to be certain prosperity and happiness is sure to grab the attention of a typical Indian buyer.As a result vastu compliance has become a prime criterion among home buyers.In this day,vastu has turn out to be an important determining component for buying a property. Something that's alleged to be certain prosperity and happiness is sure to grab the attention of a typical Indian buyer.As a result vastu compliance has become a prime criterion among home buyers.
My comments to replies
In this day,vastu has turn out to be an important determining component for buying a property. Something that's alleged to be certain prosperity and happiness is sure to grab the attention of a typical Indian buyer.As a result vastu compliance has become a prime criterion among home buyers.
Thanks Alokesh, for such a wonderful information. I have read somewhere that the entrance of house/apartment should be in the north-east corner? Is it true.
15th December 2015

Q: The Urban Development Ministry has received 17 smart city proposals from 7 states and a union territory on Monday, a day before the deadline.

My replies to this discussion
Hi, Can you name those states and cities which have submitted their smart city report?Hi, Can you name those states and cities which have submitted their smart city report?
My comments to replies
It is come to know that the first proposal was received from the Rajasthan government, which has proposed a total investment of Rs 6457 crore over the next 5 yrs. for developing Ajmer, Jaipur, Kota and Udaipur as smart cities.
@Akash, As per report, Rs 2403 crore will spent on Jaipur, Rs 1493 crore on Kota, Rs 1300 crore on Ajmer and Rs 1221 on Udaipur of this total amount. While a greenfield city will be developed near Kota, the remaining 3-cities will see retrofitment based smart city development schemes.
15th December 2015

Q: Why are site visits important for home buyers?

My replies to this discussion
Hi Kaustav, If you're planning to purchase a home or already booked one, you need to understand the relevance of site visits. Frequent site visits can help to determine the growth of development and deviations,if any from the approved plan.Hi Kaustav, If you're planning to purchase a home or already booked one, you need to understand the relevance of site visits. Frequent site visits can help to determine the growth of development and deviations,if any from the approved plan.
My comments to replies
Hi Kaustav, If you're planning to purchase a home or already booked one, you need to understand the relevance of site visits. Frequent site visits can help to determine the growth of development and deviations,if any from the approved plan.
Yes you are right dear!! Frequent visits to the construction site can help you to assess deviations in original plan.It is vitally predominant for homebuyers to visit the construction site and must have to check that the development work is in progress as per the schedule that is stated within the contract or agreement and committed by the developer.
16th December 2015

Most of the real estate portal are providing virtual tour and video of inside flats. Does this serve the purpose of traditional visit to the site of construction?
Hi, I don’t think so, virtual tours, photographs or videos does not serve the same purpose as people visit the site physically. People does not rely on this at all. This is basically help to take decision while purchasing property. Buying a home is probably one of the biggest financial commitments one would ever make. Thus, nothing will ever replace a site visit and personal inspection.
16th December 2015

Q: What to keep in mind when you are selling a property? How to calculate capital gain from property selling?

My replies to this discussion
Hello Dear, I was bought a residential apartment in January 2015 for Rs. 84 lakhs and sold the house in august, 2015 for Rs.90 lakhs. Is this gain of 6 lakh arising as an amount of sale of the residential house will likely be charged to tax?Hello Dear, I was bought a residential apartment in January 2015 for Rs. 84 lakhs and sold the house in august, 2015 for Rs.90 lakhs. Is this gain of 6 lakh arising as an amount of sale of the residential house will likely be charged to tax?
My comments to replies
Hello Dear, I was bought a residential apartment in January 2015 for Rs. 84 lakhs and sold the house in august, 2015 for Rs.90 lakhs. Is this gain of 6 lakh arising as an amount of sale of the residential house will likely be charged to tax?
Thanks Dear for sharing clear cut information, I am a little bit confuse in my calculation of the long-term capital gain. Can you help me out in calculating long-term capital gain in case of selling of property?
17th December 2015

Q: i want to purchase a flat in an ongoing project where prevailing circle rate is 4000/sqft. but builder is ready to book it @ 3700/sqft. do i or the builder have to pay capital gain tax or any other kind of tax. is it right to purchase a flat @ below the circle rate. pls. clarify.
My replies to this discussion
Till now, if the valuation of a property was lower than the prevailing circle rate, the registrar summarily rejected it. But Delhi High Court has recognized that there may be various reason for low valuation, such as a property being disputed, having unauthorized occupants, poor location etc. But as per Section 47A, anyone can register sale of property below the local circle rate. Over time, the government had come to treat circle rate as the absolute measure of registering properties, despite the Stamp Act giving room for activity.Till now, if the valuation of a property was lower than the prevailing circle rate, the registrar summarily rejected it. But Delhi High Court has recognized that there may be various reason for low valuation, such as a property being disputed, having unauthorized occupants, poor location etc. But as per Section 47A, anyone can register sale of property below the local circle rate. Over time, the government had come to treat circle rate as the absolute measure of registering properties, despite the Stamp Act giving room for activity.
My comments to replies
Hi, Remember, you may buy and sell a property at any mutually agreed price but the fact is that when you go to register the said property in the office of the sub-registrar, you would find that the official, supposed to register your property deal, would compare the sale consideration as mentioned in the sale deed with the fair market value of the property. The rate so fixed is known as the “circle rateâ€. Now if the sale consideration as mentioned in the sale deed is lower than the circle rate, the stamp duty would be calculated as per the value prescribed for circle rate.
Yes, in sale deed you can mention the fair market value but when document is submitted for registration stamp duty would have to be paid at the circle rate. For this purpose of calculation of capital gains circle rate would be taken into consideration and not the price mentioned in sale deed.
14th March 2016

My comments to replies
Awaiting for reply pls.
Hi Raghu, For more details of the building law in Bhubaneshwar you can visit their site i.e. http://odisha.gov.in/govtpress/pdf/2013/2128.pdf
25th May 2016

Q: Earlier the benami transactions are defined as a “transaction where a property is held by or transferred to a person, but has been provided for or paid by another personâ€. This Act has amended this definition by to add other transactions which qualify as benami,

My comments to replies
Hi folks..... For your knowledge, i would like to mention few points that you property will considered as "Benami Property" in the eyes of law..... A transaction is considered as benami where a property is transferred to or is held by a person and the consideration for such property has been provided or paid by another person. In these cases, the property is held for the immediate or future benefit, direct or indirect, of the person who has provided its payment. Lok Sabha passed the bill on July 27 and Rajya Sabha gave its nod on August 2.
Yes, and as per the new law which has amended Benami Transactions Act of 1988, whoever is found guilty of the offence of benami transaction shall be punishable with rigorous imprisonment for a term which shall not be less than 1 year, but which may extend to 7 yrs. and shall also be liable to fine which may extend to 25% of the fair market value of the property.
14th September 2016

Q: i want to buy 3bhk flat in kolkata . can anyone tell me how to find out the ratings and reputation of the builders/developers . is there a process of finding out the top developers list in kolkata ?
My replies to this discussion
Hi! I am agree with you both and try to add some more points in it. If you are planning to buy a property under construction, don't just go by the brochure claims. A lot depends on the builder's competence and resources. Here, what you can do:- 1) You can conduct a quick Internet search by keying in the company name since customer forums, blogs, news reports, property sites, etc, typically have a lot of information. 2) Track record:- A reputed builder will also typically be a member of an industry association, such as the Confederation of Real Estate Developers Association of India (CREDAI), or the Builder's Association of India (BAI). 3) Quality Certificate, 4) Realty ratings and, 5)financial stability.Hi! I am agree with you both and try to add some more points in it. If you are planning to buy a property under construction, don't just go by the brochure claims. A lot depends on the builder's competence and resources. Here, what you can do:- 1) You can conduct a quick Internet search by keying in the company name since customer forums, blogs, news reports, property sites, etc, typically have a lot of information. 2) Track record:- A reputed builder will also typically be a member of an industry association, such as the Confederation of Real Estate Developers Association of India (CREDAI), or the Builder's Association of India (BAI). 3) Quality Certificate, 4) Realty ratings and, 5)financial stability.
Q: Booked in 2009. Tower 56. Been following up regularly but to no avail. Decided to ask for refund in the beginning of his year 2016 as advised by their officials. Post the request, they have stopped all interactions. What is the way out now?

My comments to replies
Hi, I think you should hire a lawyer and file a case in consumer forum and ask them to refund your money with interest and compensation for the problem you have faced. Most of the buyers are opting this legal route to get their flat possession or for refund of their money.
Hi, In my opinion instead of filing a civil suit for recovery of money you can file a consumer case before the District Consumer Forum and get your money back with interest. Your case comes within the purview of Consumer Protection Act. In a civil suit you will have to pay advolerum court fee and it is time taking also. There are so many decided cases of State and National Commission on this subject.
28th November 2016

Q: plot is 50 ft x 33 ft. duplex : ground floor 881 sq ft, FF is 818 sq ft. Except land the agreement is 39.95 lakhs for construction including materials. The plot is registered in my name separately but its under a housing complex. builder asking me service tax on whole amount. first the tax rate was 3.62%, then they charge 4.5% & now its 6%. I am confused, while many places its written for a single independent house for a family its tax exempted. So, can you pls guide me, service tax should be charged or not ?

My replies to this discussion
Hi, Carpet area of unit is less than 2000 sq-ft.and amount charged is less than 1 crore will have to pay at the rate of 3.625% and value of the land is included in the amount charged.Hi, Carpet area of unit is less than 2000 sq-ft.and amount charged is less than 1 crore will have to pay at the rate of 3.625% and value of the land is included in the amount charged.
Q: I am also looking for property in Kolkata?

My replies to this discussion
Hi Ranjan, Are you looking property for investment purpose or for end use? There are numerous properties available for sale in Kolkata. Please, mention the locality name so that we can help you finding affordable property in Kolkata.Hi Ranjan, Are you looking property for investment purpose or for end use? There are numerous properties available for sale in Kolkata. Please, mention the locality name so that we can help you finding affordable property in Kolkata.
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