J
Jyoti Ahuja
posted on 10 MayCapital gains dilemma for our new Gurgaon home
Sector 109 — Lykehomes ka ek project dekh raha tha for a smaller 2BHK. Kids have moved out, toh ab humein manageable size chahiye. Humne apna purana ghar becha hai, toh capital gains ka tension hai. Pata chala ki Section 54EC bonds mein invest karke tax save kar sakte hain, but uska lock-in 5 saal ka hai. Koi shortcut hai kya? Ya phir naye flat mein reinvest karne par kuch aur benefits milte hain? Is it worth going for an under-construction property for tax reasons? Honestly, this tax stuff is confusing.
#capital-gains#tax-benefits#section-54ec#empty-nester#gurgaon
Comments
OP, since you're looking for a 'smaller 2BHK' and capital gains is the main concern, have you considered good resale properties? Sometimes you can find well-maintained, ready-to-move flats in established societies. This avoids builder delays completely and you get immediate possession, which is great for meeting those capital gains reinvestment deadlines. My uncle did this in Basai last year; found a 5-year-old flat, got a good deal, and saved all his capital gains tax without any tension of construction delays.
U9 makes a very valid point. While under-construction offers potentially lower entry prices and payment flexibility, the tax implications of delays are real. Resale properties, especially in areas like Baliawas or near the new sectors, offer immediate possession and certainty. However, as U10 mentioned, current market conditions mean ready-to-move prices are at a premium. It's a trade-off between certainty for tax benefits and potentially higher upfront costs or limited inventory.
Resale is a good idea, but finding a 'good deal' in today's Gurugram market is tough. Prices are just skyrocketing, especially for ready-to-move units. Plus, the brokerage for resale can be substantial.
My personal experience with capital gains was a nightmare. I sold my flat in Delhi and bought a new one in Baharampur Naya. I opted for the Section 54 route. The rule is you need to invest the capital gains amount, not the entire sale value, into buying/constructing a new house. For under-construction, the date of booking is considered for purchase, but actual construction completion and possession within 3 years is crucial. If it gets delayed, you might have to pay the tax with interest. I almost got caught when my builder delayed for 6 months beyond the 3-year limit, luckily I got an extension due to RERA issues, but it was stressful.
It sounds super complicated. Instead of under-construction, what about ready-to-move-in flats? Kya Sector 109 mein koi acha RERA-approved ready-to-move-in project hai jo manageable size ka ho aur capital gains ke timelines mein fit ho jaaye?
U7, that's exactly my fear. So, if the builder delays, does the tax exemption just disappear? Is there any way to safeguard against builder delays impacting your tax benefit?
Sector 109 is a great choice for connectivity, especially with the Airport Road expansion nearby. But capital gains is tricky. Reinvesting in a new residential property does save tax under Section 54, but there are strict timelines. You need to buy within 1 year before or 2 years after selling your old property, or construct within 3 years. Under-construction counts, but only if possession is within 3 years. Best to consult a good CA specializing in real estate taxation.
U5, aapne kaha under-construction counts if possession is within 3 years. But what if the builder delays beyond 3 years? Does the tax benefit get reversed then? I'm worried about this exact scenario.
Haan, connectivity toh zabardast hai. Airport Road se seedha access mil jaata hai. CA ki advice is a must for these complex tax rules.
Lykehomes in Sector 109? Please do proper due diligence. Builder ka track record bahut important hai, especially for under-construction. Sector 109 mein delays bahut common hain, aur agar aapko capital gains bachane ke liye time-bound investment chahiye, toh builder ke past projects aur RERA status check kar lena. Kahin aisa na ho ki tax bachane ke chakkar mein aapka paisa hi phans jaye.
U3, aap Lykehomes ke baare mein specifically kya sunaa hai? Koi particular project ya RERA complaint number hai kya jo aap share kar sako? It would be really helpful.
Totally agree with this! Mera ek friend Badshahpur mein ek project mein phansa hua hai for 3 saal. Builder ne RERA deadline bhi miss kar di. Capital gains ka exemption toh mil gaya, but ab possession ka wait karte karte uski interest cost badh gayi hai. Builder ka reputation sabse pehle dekho.
Sector 109 — Lykehomes ka ek project dekh raha tha for a smaller 2BHK. Kids have moved out, toh ab humein manageable size chahiye. Humne apna purana ghar becha hai, toh capital gains ka tension hai. Pata chala ki Section 54EC bonds mein invest karke tax save kar sakte hain, but uska lock-in 5 saal ka hai. Koi shortcut hai kya? Ya phir naye flat mein reinvest karne par kuch aur benefits milte hain? Is it worth going for an under-construction property for tax reasons? Honestly, this tax stuff is confusing.
Haan, exactly! Mujhe bhi yahi dilemma hai. Mera bhi purana flat becha hai aur ab naya lena hai. Kya under-construction property mein reinvest karne se pura capital gains exempt ho jaata hai? Aur agar project delay ho gaya toh kya hoga, tax liability wapas aa jaayegi kya?
Bhai, shortcut toh koi nahi hota tax mein, especially capital gains mein. Section 54EC bonds are the safest bet if you don't want to buy another property immediately. But haan, 5 saal ka lock-in is a big commitment. Under-construction ka benefit milta hai, but usmein bhi conditions hain ki within specified time period aapko buy aur construct karna hota hai.