Should we invest entire proceeds on selling a commercial plot?- Property Hotline
August 11, 2016
56
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2:47Now PlayingShould we invest entire proceeds on selling a commercial plot?- Property Hotline
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as posted by the channelExpert: Pannkaj Ghadiali, Managing Partner at PC Ghadiali and Co LLP.
Question: I own a residential MHADA tenement, which was converted into a commercial tenement. This was allowed by MHADA. I'm selling this now and investing the gains in a new flat. Should I invest only the capital gains or the entire proceeds? Can I take a loan first and then invest the sale proceeds in the same flat?
Answer: You need to invest entire net sales proceeds. You can take a loan first and then invest the sale proceeds in the same flat. The important thing to remember is that you need to invest in residential property within the prescribed time limit.
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