Can I sell one floor of my house in India?

Yes, you can sell one floor of your house in India, provided you are the absolute free-hold owner and the building rules allow floor-wise partition/registration. You will need to register the sale deed with the local sub-registrar, defining the specific floor, rights to common areas (stairs, parking), and Undivided Share of Land (UDS).

What are the rules for selling property in India?

Selling residential real estate in India involves more than just finding a buyer and pocketing the payment. There are multiple legal requirements and bureaucratic steps that must be fulfilled: Documentation: Original sale deeds, no-dues certificates, mortgage closure documents, tax receipts, and more.

How are floors counted in India?

In India: A one story building has two floors (Ground and roof/terrace) A two story building has three floors (ground floor and intermediate floor and the roof/terrace) A three story building has four floors (ground floor, two intermediate floors, and a roof/terrace) An n-storied building will have n+1…

Can I sell a part of my house?

Yes it is possible to sell half your house but there are certain caveats regarding what you can and can't do. For example, you cannot sell half of your house in order to come off the mortgage but stay on the title deeds.

What is the 12 year property rule in India?

Lying at the core of adverse possession criteria under Indian law is the 12-year rule. Under Article 65 of the Limitation Act, if someone is in physical possession of private property for twelve years continuously and adversely to the owner, they can claim ownership.

CHECKLIST TO CHECK WHILE SELLING PROPERTY | Best Way to sell Property in India - Dr Amol Mourya

Can I claim land after 30 years in India?

Requirements for claiming adverse possession in India:

Possession for a definite period: The possession should be continuous for a definite period of 12 years for a property owned by private individual and 30 years in case of property owned by government.

What is the new property rule in India?

India's new property registration rules require five key documents, digital verification, video recording, making land transactions transparent, secure, and legally protected for buyers and sellers.

Can I sell a portion of my house to the bank?

What is home reversion? This type of equity release lets you sell all or a percentage of your home to access the money tied up in it. You can continue to live there rent free. The loan is only repaid after the property is sold when you die or move into long-term care.

Can I give half my house to my children?

Can I gift my house to my children but retain partial ownership? If you're not ready to give up full ownership of your home, you might consider gifting only a portion of the property while keeping the rest under your name. This is known as a shared ownership agreement.

Is 1 floor equal to 1 story?

In the context you are asking about, storey (UK etc.) and story (US) are both equivalent in meaning to floor.

Which house number is lucky in India?

Some numbers are considered auspicious for residential purposes. As per numerology, some of these lucky numbers are 3,6,8,9,11 and 38. All these numbers are known to attract positivity and good fortune into the lives of the residents.

How to avoid taxes when selling property in India?

Strategies to Save Capital Gains Tax on Property Sales

1. Joint Ownership. ...
2. Reducing Selling Expenses. ...
3. Holding Period. ...
4. Availing Indexation Benefit. ...
5. Buying a New Property (Exemption under Sec 54) ...
6. Buying a New Residential Property (Exemption under Sec 54F) ...
7. Tax Loss Harvesting. ...
8. Investing in Bonds (Exemption under Sec 54EC)

How to get 0% long term capital gains?

Capital gains tax rates

A capital gains rate of 0% applies if your taxable income is less than or equal to: $48,350 for single and married filing separately; $96,700 for married filing jointly and qualifying surviving spouse; and. $64,750 for head of household.

What to declare when selling a house?

What to disclose when selling a house:

• Proof of Ownership: The seller must provide evidence that they legally own the property.
• Title Defects: Any issues or disputes with the property's title (e.g. any covenants, rights of way, easements or amendments) must be disclosed.

What are some red flags when selling?

Disorganized or Incomplete Financials

These signal a lack of sophistication and create uncertainty, which buyers translate into either a discounted purchase price or a hard pass. Solution: Engage a qualified CPA to clean up your financials and prepare quality of earnings materials, even informally.

Can my mum sell her house and give me the money?

If your mum simply gives you money from her house sale, this counts as a potentially exempt transfer (PET). If she survives seven years after making the gift, it falls outside her estate for inheritance tax purposes.

What is the lowest you can sell a house for?

Selling a house for $1 is legal but it can trigger significant tax implications. The difference between the fair market value and sale price is treated as a gift by the IRS. Selling below market value requires filing IRS Form 709 if the gift exceeds $19,000 in 2025.

What is the enemy property rule in India?

The Enemy Property Act, 1968 is an Act of the Parliament of India which enables and regulates the appropriation of property in India owned by Pakistani nationals. The act was passed following the Indo-Pakistani War of 1965. Ownership is passed to the Custodian of Enemy Property for India, a government department.

Can property be gifted in India?

The gift must be voluntary and without any monetary transaction. Both parties should be of legal age and present during registration. Only existing properties can be gifted; future interests are not allowed. Registration ensures legal enforceability and protects against disputes.

What is property flipping in India?

Property flipping, also known as “buy-to-sell,” is the practice of purchasing a property with the intention of reselling it for a profit, often after making improvements or renovations. This strategy aims for a quick turnaround and is different from buy-to-let, where the property is rented out.