1) What is the extent of the land (in sq. yards or metres) of the land on which the old residential house was constructed?
3000 sq mtrs
(2) Is the entire old house is demolished before constructing the new house?
Yes, the entrie building nd society is demolished
(3) If entire old house is demolished who has taken the wood, brick, window frames, door frames, iron etc., of the demolished house?
The builder has taken. In lieu of it, he has paid a lumpsum amount as corpus fund to members.
(4) What is the value of the said wood, brick, window frames etc., ?
(5) How much land has been proportionately given to the builder after demolishing the old building?
He will take 1/3rd of the land for his construction
(6) Total how many flats have been constructed after demolition of the old building?
(7) What is the cost of construction per sq. foot for the new flats as per the buildders' account?
It is not mentioned in the agreem,ent
(8) If old building is not demolished only a floor (Flat) is constructed on the existing building- what is the total constructed area in Sq. feet of the new flat (floor?) NA
(9) What is the cost of construction of the new floor (flat) as per builders account? NA
(10) Extent of proportionate land transfered to the builder? NA
(11) What for the rent is being paid? Rs 10000 pm
(12) When the land on which the old building was constructed acquired and at what cost? Acquired in 1971, fair market value is available
Apart from the above information, the member has sold the flat after getting the possession after 2 years. What is the tax implication in such case