Capital gain cost of improve

Mihir (Wealth Manager) (5293 Points)

11 August 2014  

An individual purchased a property vide a sale deed duly registered. Society is yet to be formed. The builder asked for 1 lac as life-time maintenance. The home-buyer will pay this 1 lac and he will never have to pay any regular maintenance bill. Can this amount be treated as cost of improvement while computing LTCG when he sells this property?

 

Thanks.