Advise on sale/purchase of flat/property

Dear Sir, A person sold a house in Kerala to a Builder Group in exchange of two flats at the same place. The deal included some cash down payment which was shown as the cost of the property with house in it.This transaction has been registered and executed. Now the time has come for handing over the flats by the company. My questions are:-

a. Who will pay the registration charges for the two flats and what is the current rate.(There is no mention of who will pay the charges in the agreement). b. Should the two flats be registered in one name?What is the advantage / disadvantage? c. Is there any advantage in registering the flat in the name of children. d. Is there any advantage in registering the Flats in the name of children who have no income.

asked Jul 05 '12 at 12:06 by Nanu Nair 1113

  1. Buyer pays the registration charges always.
  2. As older property sale would result in long term capital gains. In order to avoid income tax on sale, new property should be in the name of same person who sold old property.
  3. As such no advantage in registering in name of children.

answered Jul 05 '12 at 15:04 by Pankaj Batra 5.2k320


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Asked: Jul 05 '12 at 12:06

Seen: 1,292 times

Last updated: Jul 05 '12 at 15:04