Afternoon D & C Dedicated To Mumbai
Home > Property > GST on rent for old tenants by builder?

GST on rent for old tenants by builder?

Saturday, February 24, 2018

Q.In Sale agreement of joint ownership between wife and husband, as per society who is the owner?
The transfer of property Act, 1882, recognises the joint ownership and therefore Maharashtra Ownership Flats Act, 1963 or the Real Estate (Regulation and Development) Act, 2016 also recognises the joint ownership. However, the co-operative housing society, which is registered under the Maharashtra Co-operative Societies Act, 1960 recognises, the member and the associate member. Member is a person who applies for membership and in whose name the full or part right, title and interest in the flat or the property of the society vests. The other person in whose name also the property stands, may apply to society and become the associate member. Thus, having the concept of one flat one membership, the joint owners of the property is admitted in the housing society as the associate member. The associate member may exercise all the rights and privileges of the member in his absence and also to contest the election for the managing committee with the consent or NOC from the first member. Thus, in a co-operative housing society, if the flat is purchased in the joint name of wife and husband, the wife become the member and husband, who is the joint owner, becomes the associate member.

Q.Is GST applicable for Rent (Compensation) given to old tenants by Builder during redevelopment. If yes, what is the percentage?
Rent is the compensation paid by the Builder to the existing tenants for allowing him to redevelop the building. Such rent is paid as a consideration for acquiring the development rights and, therefore, there GST is not applicable on the amount of rent paid by the developer to the tenant during the transit period.

Q.What about "transfer fee" for first sale? RERA is silent on it ? How much transfer fee a promoter/ builder can charge?
The term allottee as defined under section 2(d) of RERA clearly states that the allotee includes the subsequent purchasers. In the draft agreement for sale as per MahaRERA rules or the provision of the RERA, there is nothing mentioned about the transfer fees to be levied by the builder. In case, the developer wants to charge any transfer fees, the same should be part of the agreement similar to the cancellation charges. If such provision is not mentioned in the agreement for sale, then the promoter cannot demand any transfer fees. If such promoter demands any transfer fees for resale transaction, one may file a complaint before MahaRERA stating the violation of the terms and conditions of the agreement executed under section 13 of RERA read with Rule 10 of MahaRERA rules.

(Ramesh S. Prabhu is Chairman, Maharashtra Societies Welfare Association)

No Comments Posted
My sex organ becomes hard very often nowadays and
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Catching up with your appointments and also meeting deadlines will keep you busy. Some paperwork may also need your attention. A day you will remember. Excitement, adventure and new contacts fill the day with activity you can enjoy. The evening is brilliant socially.
- Advertising -
Who says you have to hit the gym regularly to sta
A pretty plate of food is definitely more attract
You either vouch for a low-fat diet or fight to k
Read More