Hi Friends, I have been out of the country for past few years and have not paid property tax on my anjanapura IX block site for past 5 years. I have tried many times in the past years to pay using the BDA online tax payment system, but it never accepted any of my credit/debit cards. Unfortunately, I...

I find it interesting that EC area did not appreciate much in the last few years ( while some areas doubled in price ).
Why did this happen ? Maybe forum experts can through light on this.

Thanks pn996. 4.2K is really expensive for 8th phase, I feel. Did you finalize upon a plot ?

hsrp82, this may seem like a naive question (Iam a relative newbie to RE ), but why should we never tell our budget to any broker ? If our budget is say 3000rs/sq ft, and if the broker doesn't know it, won't he show us lot of places that are like 4000rs or 5000rs, and won't we be wasting time on tho...

pn996,

What is the range of quotes you are getting from the agents ?

10 years locking period restored ? Is this applicable to BDA Layouts like Anjanapura and Banashankari 6th stage as well ?

Also, if the registration amount is greater than 30 lakhs, then a AIR ( Annual Information Report ) to the Income Tax Dept has to be filed by both seller/buyer and this is also one of the reasons why the seller wants to avoid registration in full.

Whenever a property is registered, both buyers/sellers PAN number is recorded. If the registration value is greater than 30 lakhs, this info is sent to the Income Tax Department. In case of split DD/cheque, the seller can escape the Income Tax Department by not reaching the 30 lakh threshold. Though...

Chetan,

I don't think there is any way to ensure that people who buy it will do so for "keeps sake". People will say anything to get the plot, but once the transacation is done, they will do as they like.

Also, to add to previous list :

3. When you sell the property, you will have to pay income tax on the "black" portion of the transaction, since it will show up as a profit for you when you sell.