Other than Tax I like to share an interesting experience in Past.
Looking at my interest in property many many of my friends and relatives get advices, In Feb 2014 One of my close relative was interested in Buying land for house and gave me the task, Looking at his financial Condition and available funds I searched for him a property on Gt Road near interchange in 1.33 Lac/merla, It was Just 0.7 KM away from Gt road. I told him that price is great and I will add 50% of Total value as Good Will, You Just arrange 50% and Buy it. I could have Contributed all but I wanted to see his interest. After some reflections he thought he should not go for that and on advice of his father in Law invested in Gold.
After 2 years the area was nicely developed and few houses were there price gone to 4 to 5 Per merla in worst Locations. At the same time he lost about 30% in Gold Value.
Now i feel Sorry More than him.
Lesson is people with so many reflections and Doubts cant be property investors no matter how cheap it will be.
Real Estate is best replied on Saturday, July 30, 2016 02:47 PM
property jahan ho jese bhi ho khareed lani chahiye. property long run may kabhi lose nahe deti |
Rana_Australia® replied on Saturday, July 30, 2016 02:52 PM
Jameel bhai mujhe kitna tax lage ga on sale of plot in Phase 7 for 160.75 |
Lucky® replied on Saturday, July 30, 2016 06:21 PM
Rana Sab.
I think 5 % CGT.
to exempt from CGT you need to wait for 3 years...like 2nd july 2019. |
Siddique® replied on Monday, August 1, 2016 11:22 AM
Jameel bhai, after reading this story, i feel sorry for your relative as well. lower middle class or middle class people with limited budget always confuse and in confusion sometimes make wrong decision in investment. I wish good luck for future for your relative. |
