'Capital gains is on actual sale amount'
I had bought a flat in Kalyan on loan a couple of years back. While the value of my flat has increased in 2 years, loan rates have increased so much that my installment has increased 25%. And this is just the EMI. If interest rates increase beyond this point, it will become extremely difficult to cope up with finances. Is the rate expected to increase any further and is there any way to guard myself or plan finances in a better way?
- Vishal
The scorching pace of growth of the Indian economy in the last few years coupled with some inefficiencies in the system especially related to food distribution and sharp increase in crude oil prices in the International market has seen inflation gallop in the last 18 months. In an effort to curb inflation, interest rates are being raised regularly to cool down the system and bring down inflation. Around 40% of our inflation is imported thanks to oil and the rest can be attributed to food and other commodities. Given the current trends it looks like it will take around 6 months to get the situation under control. Till then we can possibly expect further hikes in interest rates, however it may not be as often as in the recent past. Hence you will need to bite the bullet and hold on in the short term as this situation will not continue for ever.
I sold my flat in 2008 August for 36 lakhs, agreement was done and signed, but the buyer did not want to pay the balance due to price fall. Then it was decided to make a rectification deed for Rs. 33.50 lakhs. I bought a new house from the amount received. On what amount should I work out the capital appreciation?
–Shiv Kamath
The capital gains will be calculated as per the actual sale consideration. In the present case it will be calculated on Rs.33.50 lakhs which is the amount agreed on as per the rectification deed. In this case its important that the rectification deed should be executed and registered.
I have booked a 1BHK at Karanjade (old Panvel) which is 2km from Panvel station at Rs.3200/ sq. ft. (3050 +150 development charge). It also touches the JNPT Road and almost 2 km from upcoming International Airport. The project is underconstruction and the possession will be given in 3 years. Please advise what to do.
– Abhishek Mishra
Any investment at the rate mentioned by you at Panvel will yield good return on investment in future. The general development at Panvel and the proposed Internation Airport has seen investors making a beeline for Panvel which has been pushing up the prices. Once the work on the International Airport starts, there is a possibility of further increase in prices.
I had bought a flat in Kalyan on loan a couple of years back. While the value of my flat has increased in 2 years, loan rates have increased so much that my installment has increased 25%. And this is just the EMI. If interest rates increase beyond this point, it will become extremely difficult to cope up with finances. Is the rate expected to increase any further and is there any way to guard myself or plan finances in a better way?
- Vishal
The scorching pace of growth of the Indian economy in the last few years coupled with some inefficiencies in the system especially related to food distribution and sharp increase in crude oil prices in the International market has seen inflation gallop in the last 18 months. In an effort to curb inflation, interest rates are being raised regularly to cool down the system and bring down inflation. Around 40% of our inflation is imported thanks to oil and the rest can be attributed to food and other commodities. Given the current trends it looks like it will take around 6 months to get the situation under control. Till then we can possibly expect further hikes in interest rates, however it may not be as often as in the recent past. Hence you will need to bite the bullet and hold on in the short term as this situation will not continue for ever.
I sold my flat in 2008 August for 36 lakhs, agreement was done and signed, but the buyer did not want to pay the balance due to price fall. Then it was decided to make a rectification deed for Rs. 33.50 lakhs. I bought a new house from the amount received. On what amount should I work out the capital appreciation?
–Shiv Kamath
The capital gains will be calculated as per the actual sale consideration. In the present case it will be calculated on Rs.33.50 lakhs which is the amount agreed on as per the rectification deed. In this case its important that the rectification deed should be executed and registered.
I have booked a 1BHK at Karanjade (old Panvel) which is 2km from Panvel station at Rs.3200/ sq. ft. (3050 +150 development charge). It also touches the JNPT Road and almost 2 km from upcoming International Airport. The project is underconstruction and the possession will be given in 3 years. Please advise what to do.
– Abhishek Mishra
Any investment at the rate mentioned by you at Panvel will yield good return on investment in future. The general development at Panvel and the proposed Internation Airport has seen investors making a beeline for Panvel which has been pushing up the prices. Once the work on the International Airport starts, there is a possibility of further increase in prices.
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