Development agreement from developer

My client received a 3 flat in 2006 after development agreement on own land from developer and now he wants to sale one flat of Rs. 20 lac 

Now my question is that how to find the cost of acquisition of that flat in 2006. 

Replies (2)
Quick Summary
This discussion addresses how to calculate the cost of acquisition for a flat received through a development agreement in 2006. The general principle is to use the proportionate value of the land attributable to that specific flat at the time the agreement was made. This valuation is crucial for determining capital gains when selling the property.

You can consider circle rate from sub-registrar office as of 2006. 

For flats received through a development agreement on the client's land, the cost of acquisition can be considered as the value of the land proportionate to the flat received, as per tax rules.

To compute capital gains on sale, the cost of acquisition of the flat can be determined based on the proprotionate value of the land attributable to that flat at the time of the agreement in 2006.

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