Question re buying property in India

ExpatUK · Apr 28th, 2008, 17:14

Hi all,

Would you be able to give an idea of the additional costs of buying a property in India eg legal fees, taxes etc?

Thanks,
JC

Nick-H · Apr 28th, 2008, 22:29

That is a piece of string question.

Stamp duty and fees vary from state to state, lawyers' fees probably also vary quite widely.

Stamp duties for various states can probably found with a bit of googling.

On has to ask: are you aware that unless you are an Indian Citizen or Person of Indian Origin it is almost impossible to buy property?

kullu gang · Jun 2nd, 2008, 19:08

Ive been back in India for 18 months and are still looking for property yes it is that hard.As for land registry it really varies from state to state in Himachal it is reviewed every month and they change the staff ie the budwari (man that holds the information to said land) to stop and stamp out irregualities and corruption also in the last 3 years prices are creeping up towards western costs you would be quite surprised at some off the rates people are asking.

shere · Jun 2nd, 2008, 19:47

Quote:

Originally Posted by kullu gang

also in the last 3 years prices are creeping up towards western costs you would be quite surprised at some off the rates people are asking.

Thats right I have seen farmland go for 1 crore upwards and legally you cannot even build on it. This is not even near a major town or city.

edwardseco · Jun 3rd, 2008, 11:48

Quote:

prices are creeping up towards western costs

My mother in law lost almost everything in the ethnic cleansing of Kashmir. Somehow she put money down on a flat more than ten years ago. After her state pension was also stopped for the same cause I offerred her support. But, before her death she had made so much money on the flat that she was handing me wads of money to go out and spend..

crvlvr · Jun 4th, 2008, 00:44

Stamp duty by far is the single biggest transaction cost. Ranges from 8-15% depending on the state. Here is a link that provides information.
http://www.indianground.com/legal.aspx
There is even a link that allows you to caclulate stampt duty.

Apr 28th, 2008, 17:14	#1
ExpatUK Member Join Date: Apr 2008 Location: London, UK Posts: 9	Question re buying property in India Hi all, Would you be able to give an idea of the additional costs of buying a property in India eg legal fees, taxes etc? Thanks, JC

Apr 28th, 2008, 22:29	#2
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 26,856	That is a piece of string question. Stamp duty and fees vary from state to state, lawyers' fees probably also vary quite widely. Stamp duties for various states can probably found with a bit of googling. On has to ask: are you aware that unless you are an Indian Citizen or Person of Indian Origin it is almost impossible to buy property? __________________ . Just one member of the IndiaMike Mod Team

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Jun 2nd, 2008, 19:08	#3
kullu gang Member Join Date: May 2008 Location: kullu himachal pradesh Posts: 53	Ive been back in India for 18 months and are still looking for property yes it is that hard.As for land registry it really varies from state to state in Himachal it is reviewed every month and they change the staff ie the budwari (man that holds the information to said land) to stop and stamp out irregualities and corruption also in the last 3 years prices are creeping up towards western costs you would be quite surprised at some off the rates people are asking.

Jun 4th, 2008, 00:44	#6
crvlvr Guru Join Date: Sep 2004 Location: Hollywood Posts: 4,474	Stamp duty by far is the single biggest transaction cost. Ranges from 8-15% depending on the state. Here is a link that provides information. http://www.indianground.com/legal.aspx There is even a link that allows you to caclulate stampt duty.

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