Carpet Area: This is the area of the apartment that does not include the area of the walls i.e. the area of the apartment that a carpet can cover.
Plinth Area: This is the area of the apartment that includes the area covered by the walls including the balcony and is calculated along with the carpet area.
Super Built-Up Area: This includes the common areas such as the lobby, lifts, stairs etc. This term is therefore only applicable for multi-dwelling units, such as flat complexes.
By registering the transaction of immovable property, it becomes a permanent public record. Titles can only be acquired after the registration of a sale deed.
It is illegal to use residential properties for commercial purposes. However, some service-based industries are allowed to operate from residential areas depending on their size and provided there is no objection from the other residents
The price that a property can command in the open market depending on its location, the local infrastructure available, etc. is known as its market value. Stamp duty is usually based on the market value or agreement value of the property, whichever is greater. You may find the prescribed Government market values of properties here
Registration is 6% on the prescribed Government market values of properties. VAT & Service tax are 1.25% and 3.63% respectively.
When a gift deed is made, stamp duty on the market value of the property as well as the necessary registration charges need to be paid.
Capital gains tax needs to be paid on the profit realized from the sale of a property. However, if the entire profit is re-invested in another property within two years of the date of the sale, you will not be subjected to any capital gains tax