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Should development agreement be examined?- property Hotline
Posted
December 22, 2016
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December 22, 2016
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2:05Now PlayingExpert: Suresh Surana, Founder, RSM Astute Consulting.
Question: I have a property in Bengaluru. I have entered into a development agreement with builder to build flats on this property. When will LTCG come into effect? Whether at time of agreement with builder or when I sell my share of flats that the builder builds for me?
Answer: In determining date of transfer act states that clauses of the development agreement need should be examined. After possession and registration of development agreement, it will be deemed to be a transfer of land at present.
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