Tax Benefits on Stamp Duty and Registration Charges Maximising Saving Via Stamp Duty Tax Exemptions
When purchasing flats in Electronic City Bangalore, you will have to pay Stamp Duty and Registration Charges. If you do not take advantage of the tax benefits, it can accumulate to a substantial increase in the overall cost of the property. However, you can maximise your savings on these additional charges by claiming deductions under Section 80C of the Income Tax Act. Read on to learn about the conditions that you will need to fulfil to avail these deductions.
Conditions for Availing Tax Benefits on Stamp Duty and Registration Charges
Following are some conditions that you will need to fulfil to stand eligible for tax benefits on stamp duty and registration charges when purchasing properties in Electronic City:
● It is mandatory to be a co-owner or individual owner of the property.
● You can be a member of a HUF (Hindu Undivided Family) who has purchased a property.
● You must claim the deduction in the financial year when you have paid the stamp duty and registration charges.
● Remember, the maximum capping for the deduction that you can claim is Rs.1,50,000.
● In the case of an under-construction property, you can claim the deduction on stamp duty only after getting possession of the property.
● It is important to note that you cannot claim a deduction on stamp duty paid for commercial or non-residential property purchases.
● You cannot claim a deduction when purchasing resale property. You can claim a tax benefit only on the purchase of a fresh property.
● Additionally, you should also keep in mind that you cannot sell the apartment that you have bought within five years of purchase. Otherwise, you will have to pay back the deduction claimed.
By claiming a deduction on the stamp duty, you can maximise savings when purchasing apartments in Bangalore. To make the most out of your purchase, consider investing in flats at Mahendra Arto-Helix. Numerous reasons contribute to the benefits that you can get upon purchasing this property.
Reasons to Purchase an Apartment at Mahendra Arto-Helix
Here are some reasons for investing in apartments at Mahendra Arto-Helix:
● Open and Spacious Property: Mahendra Arto-Helix is a RERA-approved project, covering about 3.75 acres of land. There are two towers with 273 apartments and 86% open spaces. If you are looking for 2BHK or 3BHK flats for sale in Electronic City, apartments at Mahendra Arto-Helix can serve as the perfect investment option.
● Availability of Best-in-Class Amenities: You will get Vaastu-compliant homes, state-of-the-art clubhouses, luxurious lobbies etc. for living comfortably with your family. Moreover, there are landscaped gardens, jogging tracks, fully equipped sports areas basement vehicle parking areas and a lot more in these apartments.
● Well-established Neighbourhood: There are about 14 top-rated schools and colleges present in the neighbourhood where you can enrol your kid for the best possible education. Also, there are 5 shopping malls nearby, where you can spend your free time. Other than that, there are 7 hospitals where you can rush in during medical emergencies.
● Presence of Proper Connectivity: These flats in Electronic City Bangalore is well connected to other parts of the city via the Hosa Road, Nice Road, Chandrapura and Sarjapura Road. Allowing you to get numerous transport options when travelling to your desired destination.
● Proximity to Major IT Companies: Since Mahendra Arto-Helix is situated in Electronic City Phase 1, some of the major IT companies like TCS, Wipro, Biocon, Tech Mahendra etc. are located only within a distance of 15 to 20 kilometres. This makes it easier for you to commute to your workplace without any hassle.
Looking for 2 or 3BHK apartment in Electronic City?
To get the most out of all these above-discussed factors you must check out the offers of Mahendra Arto-Helix! They have 2 & 3BHK flats in Electronic City which is a premium residential project in the Electronic City, Bangalore. This is your ideal destination when it comes to buying residential property.
Built on 3.75 acres of land, these incredible apartments in Bangalore consist of various amenities like inbuilt parks, jogging tracks, a swimming pool, proximity to top IT sectors, etc. Also, landscaped gardens and an outdoor sports arena are available which will only add more comfort to your life.
Also, along with 2 BHK and 3 BHK apartments they have penthouse facilities. This can be a dream home with enough space along with other fantastic amenities that will give you the utmost feeling of smart living. This RERA-approved project can be your dream house and its breathtaking terrace views will not make you regret your choice.
To book your 2 or 3BHK flats in Electronic City, contact Mahendra Arto-Helix!
