MVT ON NEW PROPERTY
vaishali
(Querist) 22 April 2011
This query is : Resolved
Dear Experts,
I have purchased 3BHK flat at Rs. 79lacs in Mulund, Mumbai. The registration and Stamp duty is paid in Dec-2008 and register sales agreement also made in Dec-2008. intially builder promissed to give possession by dec.2009. Now the flat is ready for possession and all the dues have been settled to to the builder. but to get possession of our flat, builder is asking for bank guarantee against the new law i.e. 5% MVT on the agreement value which is costing us approx Rs. 4lacs . could you please clarify me about this law. as while ageement nothing was mentioned by builder.
Thanking you in advance for your kind co-operation.
With regards,
Vaishali Suresh
adv. rajeev ( rajoo )
(Expert) 23 April 2011
you say him to act in accordance with the conditions. Issue notice to the builder to execute the regd., sale deed and hand over the possession. Otherwise file a suit for specific performance of contract
vaishali
(Querist) 23 April 2011
Dear Rajeev Sir,
But is there any law of 5% MVAT on the purchase value for the property purchased during 2008-2010.
BALAJI S N
(Expert) 23 April 2011
Ask builder to produce all relevant documentary proof for his claim.
Regards
BALAJI
BA LLB (CS)
