Break up cost into fsi when there is specific cost mention in agrrement
hetalsangoi
(Querist) 09 July 2014
This query is : Resolved
When my father has purchased the property that time consideration is paid along with fsi right . Now I want to sale the fsi . Is tr of fsi to third parties a capital assets transfer? If yes how to classified the my property purchased cost between structure and fsi . When I go through the agreement there is no separate consideration calculation for fsi . Pl guide me
ajay sethi
(Expert) 09 July 2014
raise query in CA club india .com
Anirudh
(Expert) 09 July 2014
You have to come up with facts and figures. For instance, you say that you purchased the land with FSI.
Please tell me, which residential plot comes without FSI?
Therefore, what is new/peculiar in your case?
First tell whether you have made any construction on the plot of land? If so, whether you have utilised the full FSI permissible?
Please make these things clear.
Rajendra K Goyal
(Expert) 09 July 2014
Author answer the clarification from expert ANIRUDH ji.
hetalsangoi
(Querist) 10 July 2014
WAREHOUSE 1 ST FLORR PURCHASED COST RS 5 LAKHS INCLUDING FSI .
AREA - 500 SQ FT.
WE HAVE NOY UTISILED THE FSI STILL YET .
Anirudh
(Expert) 11 July 2014
In your case it is not TDR. I am afraid, you will not be able to sell the FSI alone without alienating the proportionate share in the land underneath. (It is not clear whether the owner of the ground floor of the warehouse, would agree.)
It will be very difficult to give any view on the query without looking at the terms and conditions of the agreement under which you purchased the first floor of the warehouse.
hetalsangoi
(Querist) 11 July 2014
WE HAVE INQUIRED AND GET THE INFORMATION THAT OWNER OF THE GROUNDFLoor have do not get the right of the FSI from the developers .
there for to take the permission is still require ?
Anirudh
(Expert) 11 July 2014
It is not the question of getting information. It is the question of verifying the documents, studying the contents and then coming to a conclusion, which is not possible without going through the documents.
