TDS
Deduct 1% TDS for amount payable / paid after June 1st 2013 (this is excluding maintenance charges & sinking fund)
Get a mail confirmation from Godrej on the TDS amount if possible / Or make sure this is reflecting in the statement of accounts
Pay TDS here: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
Provide Form 16B to Godrej
Details required (would be good to confirm, this was applicable in May 2016):
For the builder/ seller:
Permanent Account No. (PAN) of Transferor (Payee/Seller): AABFU5072H
Full address: 487, 38th Cross, Kanakapura Main Road, Opp. JSS College, 8th Block, Jayanagar, Bengaluru – 560 082.
Whether more than one Transferor/Seller: (Yes/No) Yes
For the property:
GEcity Full Address: Godrej E-City, Doddathoguru, Near Crowne Plaza, Electronic City Phase – 1, Bangalore – 560 100.
Few points to remember:
- it is the buyer or payer responsibility to deduct TDS and you will have issues claiming tax deduction, capital gains etc. if the TDS was not done properly.
- Builder cannot charge interest on TDS portion, irrespective of what happens. If you delay paying TDS, the income tax department will impose a penalty that it will calculate at the time of payment.
Payments
Complete payments before possession / registration (if there’s a bank loan, then this is not applicable for the last installment, which the bank will pay at the time of registration)
Take a final SOA from Godrej for proof that you have nothing outstanding from your end
Draft Sale Deed
Insist on reviewing the draft sale deed before the date of registration
Double/triple check all the details specific / unique to your unit / you (can cross verify against the agreement document)
The sale deed will have the value from the agreement document (and not the price you paid / or the value based on guidance value)
Get it reviewed by a lawyer and atleast make sure that the names, dates, payments, sizes etc are in order. Builder will try to procrastinate sharing a copy or will share it at the eve of signing, don’t allow them get away with these shenanigans. Review the document first and agree for signing only after you are sure everything is OK.
DDs for Registration
Godrej will communicate the DD values that is calculated based on the guidance value
3 DDs needed at the registrar office:
Stamp duty
Registration charges
Cess charges
DDs to be drawn in favor of “SUB-REGISTRAR JAYANAGAR, BANGALORE (this is ok even if the registration in in the Koramangala office, there are some 9 offices under Jayanagar, so with this DD you can technically register in any of these offices).
For ph1. They took 15k for ‘miscellaneous’ expenses if paid as DD (incidental charges in favor of ‘UNIVERSAL BUILDERS’) or 12k if paid in cash. Remember it is bribe and even if you are paying it via DD, universal will not issue a receipt for it. So try to negotiate it.
Bank
Bank may ask for the following from Godrej: EC / Tax paid receipt
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For Axis, you need to intimate the bank on the date registration, they will come to the registrar office with the last installment DD
Day of Registration
You/ all buyers are required to present in front of the registrar
Carry your/all buyers pan cards
Carry all the DDs you have made – these are to be handed over to Godrej before signing the deed
Also, in some cases Godrej did not calculate the DD amounts properly and balance amount payable was paid in cash at the sub-registrar office – the details on this amount will be mentioned on the sale deed. So better to carry some ~5k with you. ATM machine near BDA complex was out of cash when I visited it last.
Have heard of cases where Godrej/Kamala misplaced the DDs and the process with lost DDs are a nightmare, so be careful (keep a copy/make sure they file the DDs properly at the registrar office)
GPA cases inform/remind Godrej and carry the original GPA
The registration can take between 30 minutes to 2 hours under normal circumstance – Godrej will facilitate everything; we don’t need to do much.
At the registrar office, read the final printed deed before singing (there could be mistakes information like spelling mistakes in names, Mr./Ms. mix up etc. – check everything that unique/specific to you/ your unit once again)
Mr.Dinesh/Universal is present / not present in some cases (their presence is mandatory, but you know how the sub-registrar office works) –
If there is a bank loan, the signed deed will go to the bank. Carry a copy of the SBI circular that allows SBI to represent/witness the registration without being physically present. Without that, registrar minions might ask for extra bribe/fine/penalty.
Godrej – usually takes a day to a month to provide the signed deed – but better to keep following up / put pressure on them.
It’s good to get an acknowledgement from the bank at the end of everything for all the documents they are retaining
However Godrej has a nasty habit of recheduling on the D Day. So call them up daily a couple of days prior to your appointment so that your appoitment is honored. If you have to fly for registration, please book refundable/open tickets. Same goes for hotel reservations.
Hand over
Better to before registration / however Godrej is usually willing to fix issues before/after registration and even months after registration if it is their mistake (e.g. broken tiles, door/lock issues, plumbing, electrical, slope for balcony/shower drains) take photos of everything that is not in order and email it in the evening for record.
use your key to tab on each and every tile. If the masonry was done well, then the hollow tile will make noise (like a drum). Insist on getting these tiles replaced. As tiles which are not properly laid will break after 3-6 months of use and it might be difficult for you to get a tile with matching shades.
Check all taps / leave the taps running in the bathrooms for some time to check for seepages and other such issues.
STP and main water connection was mixed for many apartments in phase 1, good to confirm this is proper
Make sure your unit is locked after handover, bathroom fittings can be stolen, especially from the ground floor units very easily. If windows are not closed properly, birds will make a nest.
For issues, mail:
prasanna.kumargv@godrejproperties.com 97395 05656 / whatsapp +91 98803 25043
luckey.jaishree@hotmail.com +91 97407 19666 / +91 97400 08021
Vinay.hp@godrejproperties.com 074062 67555
Ecity reception: 080889 33743
Plumber: 7619122376
electrition: XXX
Get possession certificate
Collect all keys and make sure they are matching / Godrej will retain one key for rectification work (if applicable)
Get parking alloted, allotment letter, parking sticker
Get Lakshman (facilities manager) to add you to the Whatsapp group for maintenance – this is helpful for calling for maintenance team’s help
Similarly there is a owner’s whatsapp group, for owners. Lion’s group for resident males, and Queen’s group for resident females.
Get your electricity meter / supply started. Insist on receipt for all payments made. Also check the slabs used for calculations.
The Gas bank, Kaveri water and Sewage connection are still not functional. Put pressure if you can. Same for clubhouse. In phase 1 full maintenance was started even when the lifts, clubhouse & swimming pool was not functional. Try not to fall into this oversight.
Thank you Anish Jose for taking time out to list out the steps for everyone.