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Help >> FAQ
| Sr. No. | Question | Answer |
|---|---|---|
| 1 | Is GST payable in case of Redevelopment? If yes, is it to be paid on the additional area received from the developer or on the total area? | As per the present scenario, for the existing members of the Society, GST is mostly applied on the Additional Area, though in some cases, it is found to be applied on the Total Area of the New Flats. However, this has been challenged in Bombay High Court and the proceedings are at an advanced stage. |
| 2 | Our redevelopment is completed. OC is received and we have taken possession of our flats. What precautions and procedures are to be followed for handover of building and documents related to redevelopment? | OC only indicates "Statutory Completion" of a building. However, for using it in a smooth and day to day manner, it also needs to be "Physically and Functionally Complete" in all respects. This can be ensured by undertaking internal (within flats) and external (outside flats) inspection of the building with the help of checklists followed by rectification of defects. Functional operation of various amenities and equipment should also be checked through demos. Final Approved Plans, "as-built" drawings, Certifications, Warranty/ Guarantee documents, Service Contracts, Operation Manuals etc should also be taken from the Developer. For complete information regarding the procedure to be followed and lists of handover documents in the "Repossession Phase", please visit www.redevelopment.info . |