cheque book

Hindustan Times (Chandigarh) - Estates - - HT ESTATES - HARSH ROONGTA Harsh Roongta is a SEBI reg­is­tered in­vest­ment ad­viser. He can be con­tacted on

Will home­buy­ers who have un­der­con­struc­tion prop­er­ties ben­e­fit with the pro­vi­sions of the Real Es­tate (Reg­u­la­tory) Act or RERA once the Act is im­ple­mented by the dif­fer­ent state gov­ern­ments?

– Ra­jeev Sharma

This will de­pend on the pro­vi­sions of RERA as im­ple­mented in the con­cerned state. So far it is yet to be im­ple­mented in any state or union ter­ri­tory.

I have booked an apart­ment with a builder and hope to get pos­ses­sion by the end of this year. My apart­ment is on the sev­enth floor and a per­son I know has an apart­ment on the third floor in the same build- ing. What do we have to do if we mu­tu­ally agree to in­ter­change the apart­ments booked by us due to lo­ca­tion pri­or­i­ties? What is the pro­ce­dure to fol­low for this ? How can we do this and are there any charges we have to pay?

– Yo­gesh Bhasin

An ex­change of apart­ments is noth­ing but sale of apart­ments by one per­son to an­other. It will at­tract stamp duty based on the mar­ket value of the prop­erty of greater value. Cap­i­tal gains tax will be payable by both par­ties on the sale value mi­nus the cost of the orig­i­nal apart­ment. The builder may also charge an amount for a no-ob­jec­tion cer­tifi­cate for this ex­change if it’s al­lowed un­der your pur­chase agree­ment.

I got di­vorced in April 2015 and the present house where I live is in my and my former hus­band’s names. In the di­vorce de­cree it is men­tioned that the prop­erty is solely mine and I can dis­pose it when­ever I want and my ex-hus­band will have to sign or give me the power of at­tor­ney. Is this fine or should I get the prop­erty trans­fered in my name solely from a le­gal point of view?

– Pooja Sharma

Con­sult a lawyer and get a proper trans­fer deed signed in your name and get it duly reg­is­tered with the reg­is­trar. Talk to a lo­cal lawyer re­gard­ing stamp duty im­pli­ca­tions on such a deed. This will en­sure that you have a proper ti­tle to the prop­erty.

I own a 1 BHK flat and my mother a 1 room kitchen and an­other unit for which pos­ses­sion has not been re­ceived. The home loans have been closed. Can I now buy a 2BHK flat and get tax ben­e­fits? Kindly ad­vice.

– Shan­taram Cha­van

I am as­sum­ing you are cur­rently stay­ing in your own 1 BHK flat. If you pur­chase an­other 2 BHK flat, the in­ter­est payable on the home loan taken to ac­quire that flat is de­ductible. The limit for de­duc­tion will be ` 2 lakh per an­num if you are stay­ing in that new flat.

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