We, three friends, have lands in Anjanapura Bangalore. The area is 7000 + in sft for each of us. It is difficult to sell with a large area. We would like the following services. a) Break up the land in 2400 sft plot and register the land in name of family members. By registering as a gift to immediate family members, the registration tax can be avoided to a minimum of Rs 25K. b) provide a legal opinion for the property c) Obtain Khatha for registered land. we have one khatha for each of the land and if broken, need kahatha for each to dispose it off d) any other formalities required for selling e) can you find a buyer? Thanks If you provide your number, I can call you.
You have to approach the local authorities for subdivision of land
2) gift deed in favour of family member has to be duly stamped and registered
3) website has number of lawyer s in Bangalore
4) contact any of them for obtaining legal opinion
5) you have to contact real estate agent for finding buyer for land
You may have to contact a particular advocate or a consultant in the local or one from this forum to get your project completed
You have given a general call here.
We can give you these services except getting buyers for you which is not a job of a lawyer.
1. Good to know that 3 friends are owning large tracts of land in Anjanapura, Bengaluru.
2. We can do bifurcation of the land and subsequently gift the land to blood relatives to minimise stamp duty.
3. Legal opinion can be provided.
4. Bifurcation of Khatha can be done.
5. Preparing corresponding legal documents for smooth transition.
6. Trying to identify the potential buyer can also be done.
7. If interested, please schedule a Phone Consultation with me from Kanoon.com
Dear Sir,
1) Gift deed will require proper registration. Gifts from specified relatives are exempted form tax, regardless of amount. These relatives are spouse, father, mother, brother and sister.
2) If you require legal assistance for the same in Bangalore, you can you can book a consultation with me.
3) Drafting of conveyance deed, registration will be needed, you will have approach local authorities for subdivision.
4) Sir, buyer of land will have to be found through service of real estate agent or you can look for buyer in sites like magic bricks etc.
Thank you
- You can take assistance from any lawyer of this website
- Better engage a local lawyer of Bangalore for the same.
this will be a better idea to make a partition deed and register it where the share of each partner can be identified and recorded and after that you can sell the property accordingly and you will be liable for the capital gain tax as per the value of acquiring cost and sale cost
