{"id":56812,"date":"2025-09-29T21:24:15","date_gmt":"2025-09-29T15:54:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=56812"},"modified":"2025-09-29T21:30:07","modified_gmt":"2025-09-29T16:00:07","slug":"urgent-query-on-gifted-flat-and-redevelopment-thereof","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/urgent-query-on-gifted-flat-and-redevelopment-thereof\/","title":{"rendered":"Urgent &#8211; Query on gifted flat and redevelopment thereof"},"content":{"rendered":"<div>\n<div dir=\"auto\">\n<div>\n<div>\n<div>Dear Sir\/Madam,<\/div>\n<div><\/div>\n<div>Through a registered gift deed dated 04th August 2025, my mother has gifted her self acquired flat in Mumbai to me, basis of which I have become 100% owner now. She had originally purchased this flat in September 1993 out of her own funds.<\/div>\n<div><\/div>\n<div>The flat, originally measuring 355 sq ft, is under redevelopment stage and due to FSI benefit, the new flat to be allotted is for 472 sq ft. However, I have also opted to purchase an additional area of 23 sq ft in this flat, due to which I will receive the new flat measuring a total of 495 sq ft.<\/div>\n<div><\/div>\n<div>The developer has scheduled our PAAA registration next month in Oct 2025. I am required to make the payment towards this additional area of 23 sq ft along with the proportionate stamp duty charges thereof.<\/div>\n<div><\/div>\n<div>My query mentioned hereunder is from a long term capital gains tax perspective:<\/div>\n<div>\u00a0*** Keeping in mind that I am purchasing an extra area of 23 sq ft in this gifted flat, do I have to wait for 24 months and complete the holding period of 2 years before proceeding ahead with PAAA registration.<\/div>\n<div>\u00a0*** Should I defer my PAAA registration until August 2027 or can I go ahead with the PAAA registration since this flat was acquired by me as a way of gift and the original holding period is 32 years.<\/div>\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div>Kindly guide me for further course of action as I am very confused due to LTCG \/ STCG provisions.<\/div>\n<div><\/div>\n<\/div>\n<div>Regards<\/div>\n<div>Rayannsh<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1275],"qa_category":[23],"qa_tag":[24,459],"class_list":["post-56812","qa","type-qa","status-publish","hentry","qa_expert-law-intern","qa_category-income-tax","qa_tag-capital-gains","qa_tag-redevelopment"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/56812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=56812"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56812"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=56812"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=56812"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=56812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}