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Arvind (manager)     02 November 2011

Tax liability in land development agreement

Dear law experts,

 I had handed over my land to a builder for developing flats. As per agreement, 30% of build-up property shall be mine and rest 70% would be of developer's.

Now, I am wondering about these three things:

1. Do I have any tax liability after I get my flats? if yes, its for all developed flats? or on my 30% flats?
2. Who would do registry for other 70% flats to the buyers? me or developer?
3. What legal formalities shall be required for my part of flats? Do I have to do registration for them?

It shall be so great if you can help me by answering my querries.

I am currently not in India and have limited access to people knowing indian legal system.



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