Addition chanrges paid to goverment while purchasing new flat
I bought new under construction flat in Bangalore. What are all the duties I need to pay to government in addition flat cost(Vat, Registration, BESCOM, BWSSB)
Asked 3 months ago in Property Law from Bengaluru, Karnataka
Your sale deed would contain details of taxes payable by you
Service tax , VAT , electricity deposit , stamp duty , registration charges etc are payable by you
If you are buying a ready to occupy flat; in case the builder has developed the project to 100% & obtained the occupancy certificate for the same before selling it to you – it’s a product being sold. There is no service component involved in this and hence you don’t have to pay any service charges. If you are buying a flat that is already developed by a builder, there is no Service Tax or VAT involved.Ancillary services provided by the builder, even if the property is ready to move in, will attract service tax – but only on the service charge, not on property value. Ex. service tax will be payable on property maintenance charges.
You will be given with the list of all other allied services, verify and confirm the same.
At the time of registration you will need to pay the stamp duty @ 5.6% and Registration Cost @ 1% on the value at which you are registering the flat. (Government value is provided for whole of Bangalore urban and rural). Apart from these you will not be liable for any other statutory charges.
Apart from the charges mentioned by you the stamp duty, registration charges and service tax will have to be paid