Can builders can keep flats in their own projects
if a builder make a redevelopment project,
can he buy flat at in that project ??
if yes then at what price ?? can he register the agreement showing agreement value as less then Stamp duty Value ? what will be the income tax consequences??
please provide a written reference or case laws
Thank you
Replies (1)
yes he can,
usually the builder / developer is an esablishment and not individual so from his establishment he/ she can transfer the flat to his single individual name. by payting stamp duty at market value"", and making registred instument of conveyence in his name.
however to avoid litigations, during registration its better to transfer in name of some close relative residing with you, such as spouse or children.
for market value, the registrar office will show the same.
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