PROPERTY – TRANSACTIONS – WITH DEMONETISATION – RERA – GST


The property transactions across the country will see a thorough change due to Demonetisation, implementation, and enforcement of RERA and the New Tax System of Goods and Service Tax.

It is strongly advised and suggested to deal with the direct owners/sellers/builders, who are registered under the RERA with the regulator and demand GST or TAX Receipts for the taxes paid for the apartments from the owner/seller/builder.

Try and Avoid all and every kind of cash transactions.

Deal with the RERA registered authorised Agents, with good credibility, even, if the charges are more. Do not deal or transact with agents who have criminal background and cheating cases.

Buy from the credible and good builder, even, if the price is slightly more, for the safety of the investment and to avoid future troubles, if any, arise, later.

Majority of the disputes arrive only at the time of doing the interiors and 80% of the owners of the apartments are not satisfied with the material interior work and design and disputes arise.  Hence, be careful, while appointing the interior designer.  Enter into an agreement.  Pay all the amounts only through cheques.  Obtain bills for all the products.  Obtain GST Bills from the architect or the interior design firm.

CONDUCT A THOROUGH AND DILIGENT ENQUIRY INTO THE TITLES OF THE PROPERTY BEFORE THE PURCHASE.

DO NOT BUY OR PAY ANY TOKEN ADVANCE TO ANY PROPERTY WITH ANY KIND OF LITIGATIONS, EVEN IF THE BUILDER PROMISES TO CLEAR IT OR RESOLVE IT.  BUY THE PROPERTY ONLY AFTER THE COURT DECREE OR ADJUDICATION.

 

Advertisements