“The decision of buying two flats has been extremely beneficial as we saved money and were able to ensure our family’s comfort,” says Swati Babel (35), a financial expert. This tendency is also prevalent in pre-construction homes, where the buyer has more freedom in modifying the interior to his or her liking.
1. Easy Process
A request for an amendment that authorizes the local municipal government to combine the flats must be submitted by the potential buyer of the property. Despite having to pay two different stamp duty rates, the overall cost will still be less than what you would pay for one larger unit.
2. Low Tax Benefit
The primary tax advantage of joint flats is the tax bonus. In addition, the additional space and flexibility in design also add to your set of perks. Being cited as an investor in several interconnected flats that meet the definition of a residential unit is a primary component of an Income-Tax Appellate Tribunal that will help one attain tax laws related to investment-linked benefits.
The ability to rent out an apartment near one’s own residence while simultaneously enjoying increased financial control is another advantage of owning a second home in the same building.
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