Under GST regime, all under-construction properties will be charged at 12 percent. But it excludes stamp duty and registration charges; home buyers may defer purchases till clarity emerges
The Brihanmumbai Municipal Corporation (BMC) has proposed a surcharge of one per cent on the buying and selling of properties in Mumbai, to fund infrastructure projects. This would be enforced by the state government, R
The state revenue department of Maharashtra recently hiked the ready reckoner rates, by an average rate of 5.86% across the state. In Mumbai, the ready reckoner rates have been increased by 3.95%, as opposed R
Housing finance regulator, National Housing Bank (NHB), is working on a complete revamp of its residential housing index or `Residex’. “We are working on a complete revamp of Residex and we are likely to R
According to a report on real estate investment trusts (REITs) released by Knight Frank, the domestic environment is ripe for listing of REITs, an investment vehicle that invests in rent-yielding completed real estate projects. R
A borrower can shift the home loan to any other lender, who is willing to offer better interest rates. At times, a home loan applicant may also want to increase the loan‘s tenure, due R
The Inspector General of Registration (IGR) offices in Maharashtra earned Rs 17,244 crores by the end of January 2016 from stamp duty collection. This year, however, the collection was Rs 16,254 crores till January R
Realty firm HDIL reported 84 percent decline in its consolidated net profit at Rs 16.22 crore for the quarter ended December on lower sales. â€œPre-sales of HDIL in the third quarter were significantly lower and we have seen at least 45-50 percent decline in pre-sales,â€ said Hariprakash Pandey, company‘s VP-Finance.
In its 2017-18 budget, the West Bengal government has slashed the stamp levy to 2% from the prevailing 6%-7% and the registration fee to 1% from 1.1%. In order to avail the benefit of R
While the real estate fraternity has largely welcomed the announcements in the Union Budget 2017-18, certain sections in this sector, apart from the affordable housing segment, as well as buyers, are still trying to R
The real estate sector has been plagued by many challenges, including delays in projects owing to funding issues, complicated government diktats, unclear records and land titles and delays in obtaining approvals. The passage of R
Disha Kansara Chawla Senior executive search professional, Mumbai Many average Indians now own two houses – one to live in and one through which they earn retirement benefits. It is very difficult to buy R
Gifting is an act, through which a person voluntarily transfers certain rights in an asset to another person, without any consideration. Gifting of a house property, has certain income tax and stamp duty implications. R
Stamp duty is a compulsory obligation payable on the document which encapsulates the transfer of immovable property, such as real estate. Home buyers are required to pay this when registering the agreement for sale. R
Stamp duty laws in our country merit high importance when it comes to inorganic growth strategies developed by corporates. In the interest of inorganic corporate expansion, one of the ask is simplification of the inverted stamp duty structure and bringing uniformity in duty rates, concessions, exemptions with few essential exceptions.
Facing practical difficulties, companies have sought clarity on IEPF norms from the government on transfer of physical shares, levy of stamp duty and other issues.
The union government’s recent decision to demonetise Rs 500 and Rs 1,000 notes, has hit stamp duty collection in Maharashtra, which is already down by 37% across the state, the Inspector General of Registration R
While the tax structure for the goods and services tax (GST) has been announced, the real estate industry is waiting to see which rate is applied to it and the construction industry. Given the R
Income tax laws mandate a minimum holding period, before an owner sells his/her residential house, to avail of tax benefits. Let us analyse the various provisions, under the Income Tax Act, to understand the R
The general consensus among many experts today, is that there is limited choice for new real estate investments in India‘s metropolitan regions, given the spiralling prices of real estate and the lack of confidence R
Real estate has always been a lucrative investment option for Indians. Many people will invest in a second and third home to earn rental income. Here is what you need to about the risks R
Divyansh Sharma, a first-time home buyer, who invested in a two-bedroom flat knew little about the additional charges on his property. When he received the pre-possession demand letter, the developer had asked for an R
With a view to boost the real estate sector, the Punjab Cabinet on Tuesday decided to abolish the stamp duty of two per cent levied on immovable property while awarding the power of attorney.
The law of registration of documents is contained in the Indian Registration Act. This legislation provides for the registration of various documents, to ensure conservation of evidence, prevention of fraud and assurance of title. R
Taxes and duties constitute a large part of the total home buying cost. There are four types of taxes and duties that are levied on the purchase of homes in India â€“ stamp duty, R