Hi Guys,
I am looking to a buy a very old house. It will be 100% white transaction. I have two questions.
1. I understand that the total registration cost will be 6.6%. Will it be 6.6% of the total sale price?
2. I plan to demolish right away and start construction. Will this again involve some govt approval etc?
The process to buy demolishable property
Re: The process to buy demolishable property
yes. Stamp & Registration charges are fixed on Govt Guidance Value or the actual Transaction value (Not below the Guidance Value of that Property)
Once the Transaction is over, Before starting the demolition, approach BESCOM & BWSSB for Disconnection of the Existing Electricity and Water Connections. Later you can take temporary electricity connection. (Not sure, whether you can directly convert the existing Electricity connection into temporary Connection). Per my knowledge, BWSSB doesn't give Water Connection for Construction Purpose. either you can use the Recycled tanker water from BWSSB/regular Tanker water or can go for a Borewell.
Apart from that, you also need to take precautionary safety measures to cover your boundary, so that your demolition work should not to affect any of your adjacent properties.
Once the Transaction is over, Before starting the demolition, approach BESCOM & BWSSB for Disconnection of the Existing Electricity and Water Connections. Later you can take temporary electricity connection. (Not sure, whether you can directly convert the existing Electricity connection into temporary Connection). Per my knowledge, BWSSB doesn't give Water Connection for Construction Purpose. either you can use the Recycled tanker water from BWSSB/regular Tanker water or can go for a Borewell.
Apart from that, you also need to take precautionary safety measures to cover your boundary, so that your demolition work should not to affect any of your adjacent properties.
Re: The process to buy demolishable property
thanks a lot @msn1270 Sir
Re: The process to buy demolishable property
Hi all,
reopening this thread. I have a couple of questions.
1. What is the average cost to demolish a house?. Its about 25 years old. The house is built on a 40-50 plot. But the built-up area is small since they have left a lot of space. Also, it has only ground floor. Some people are saying it costs about 5 lacs. Some saying, the demolished stuff has some value and net net I wont have to pay anything.
2. Lets say I buy, the house with some loan. Will I need the bank approval for demolishing?
reopening this thread. I have a couple of questions.
1. What is the average cost to demolish a house?. Its about 25 years old. The house is built on a 40-50 plot. But the built-up area is small since they have left a lot of space. Also, it has only ground floor. Some people are saying it costs about 5 lacs. Some saying, the demolished stuff has some value and net net I wont have to pay anything.
2. Lets say I buy, the house with some loan. Will I need the bank approval for demolishing?