Property Tax Evaluation To Get Faster in Hyderabad

Oct 10,2019 / By Prahalad Singh / No Comment

Hyderabad: Property Tax Assessment To Get Faster

A plan to combine building permission and property tax in Development Permission Management System (DPMS) is on papers. Unlike earlier, property tax will be assessed while issuing the Occupancy Certificate.

As per the top Greater Hyderabad Municipal Corporation (GHMC), once the details are listed in DPMS for building permission, the data will be shared in a single-window platform and property tax will be assessed. The software will be developed to combine building permission and property tax.

As of now, after the occupancy certificate is issued by the civic body’s town planning division. It can not be ignored that there are cases where houses have been identified after 3-years of occupancy and bill collectors manually evaluated the properties and estimated property tax.

What Is a Property Tax Assessment?

A property tax evaluation decides the market value of a property. Evaluations are normally prepared on a particular date each year, and they are usually based on current sales of equal properties in the area. Local authorities use your tax evaluation on the basis of your annual property tax bill.

Is property tax evaluation fair the market value?

Property taxes are charged by the state in which you live. They will impose a value based on comparable homes in your neighborhood. This assessed value will decide the amount of property tax you have to pay. Usually, the assessed value of a home is less than the market value.

How can I check my property tax online in Hyderabad?

You can check your property tax status online by following the steps below:

Step 1: Visit the GHMC Property Tax Website
Step 2: Select Search Your Property Tax
Step 3: Select Your Property
Step 4: Verify Dues and Make Property Tax Payment

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Affordable Housing In Visakhapatnam To Get A Boost Due To Construction Of Metro Project

Oct 7,2019 / By Prahalad Singh / No Comment

Affordable Housing in Visakhapatnam to get boost

The Andhra Pradesh government proposal to extend the suggested metro rail project into the city’s outskirts. This decision has made the real estate developers in the city excited. Many real estate developers are now scheming to build housing societies in these areas to benefit low and middle-income groups.

Developers in the city feel that the cost of the property would increase once the time limit for the metro rail project gets closer. So, they now plan to address the working groups who they think will be using the metro on a regular basis but unable to afford the high-value property.

Former president of the Visakhapatnam chapter of Confederation of Real Estate Developers Association of India (Credai), Koteswara Rao told that a large number of the middle and lower-middle-class live in rental flats in Gajuwaka and Southern outskirts of the city as well as in Kommadi and Madhurawada. They might prefer to buy a property in Visakhapatnam and settle there permanently.

He further added that they might be able to afford homes in areas where the metro network is planned to go realizing the appreciation rate. So, they have decided to develop such Middle-income Group (MIG) and Low-income Group (LIG) projects.

As per the developer, since these projects will come under the Pradhan Mantri Awas Yojana, the cost of these flats would be less than Rs 25 lakh so that, buyers will get a discount on interest on home loans and other benefits.

The current property rate in the interiors of Gajuwaka and Kommadi is around Rs 3,000/sq.ft. On the other hand, the rate of property located on or around the highways hangs around Rs 3,500 – 4,000/sq.ft. Developers are expecting that the property rate will increase by at least 35 to 40% as soon as construction work begins.

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‘Jamabandi’ Of A Land Necessary In Patna Before Its Registration For The Transfer Or Sale

Oct 7,2019 / By Prahalad Singh / No Comment

Jamabandi of property compulsory in Patna

On Friday, the state cabinet approved the government’s proposal to make the ‘’ (entitlement/khata) of land necessary in the rural side before its transfer or sale from one person to the other. The cabinet secretariat department principal secretary Sanjay Kumar said that the 2nd transfer or sale of a flat in a flat would need the holding number of the flat similarly.

The announcement regarding the cabinet approval to the government’s proposal about “Jamabandi” would be published soon.

The official also stated that the “Jamabandi” about the landed property in Patna had become compulsory because a descendant of a particular person has been found to retreat to the sale or transfer of land from his or her share even without getting the entitlement (Jamabandi/Khata) of the land property, which further leads to court cases. Hence, the govt decided to make “Jamabandi” of a land mandatory before its registration for the transfer or sale by a person to the other.

In case of the transfer or sale of a flat, no “Jamabandi” would be applicable. Instead, after the flat has been purchased from a builder buy any person, its 2nd sale or transfer would require submission of the holding number and related documentary evidence of the flat before its transfer or sale is done by the registration officer.

The cabinet also approved the release of Rs 91.80 crore for the development of 4-residential schools for the scheduled caste (SC) groups and 2 such schools for the scheduled tribe (ST) groups during the current fiscal. Overall, the government has allocated Rs 306 crore to be used in the construction of the schools involved.

What is Jamabandi?

Jamabandi is a title used to apply to land records in northern states of India – Punjab, Haryana, Rajasthan, Bihar, and Himachal Pradesh. Jamabandi is the Record of Rights (ROR) of a village. The Jamabandi Register includes the name of owners, area of land, shares of owners and other Rights.

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How Jewar Airport will Benefit Noida’s Shortfall Realty Market?

Oct 3,2019 / By Prahalad Singh / No Comment

Jewar Airport and its impact on Noida's Realty Market

The Uttar Pradesh Government has considered the construction of a Greenfield Airport at Jewar. The proposal of Jewar International Airport was first introduced in 2001. The proposed site for the airport is located at a distance of 40 to 50 km from Greater Noida and Noida respectively. Government of Uttar Pradesh interested in making Jewar Airport the biggest airport in the world by increasing the number of runways to eight. Once completion of the project, it could compete with Chicago’s O’Hare International Airport, which at present has seven runways.

Jewar Airport is building on Public-Private Partnership (PPP) and Yamuna Expressway Industrial Development Authority (YEIDA) is the implementing authority for it. Along with the C.M, Yogi Aditya Nath, the government started working on the procedure of obtaining the land for the project which they made was up to 3000 acres and an estimated cost of around 20,000 crores estimated to be operational by 2022-2023.

The Yamuna Expressway Industrial Development Authority (YEIDA) will first have to take 1239.94 hectares of land from 3,000 farmers to develop the phase-1 of the airport. For an operational airport, the land will have to be taken from 5000 farmers.

Phase-1 of the project will have two runways and the Noida International Airport Limited (NIAL) will send the proposal for eight runway airport to the state government.

The Jewar Airport will hold an Aerocity on the plans of the one at the IGI airport. Plans are also to link the $-3.1 billion Jewar airports with the Delhi’s Metro’s Aqua Line by 2025. The government is also analyzing the probability of linking the airport with Sarai Kale Khan, a major bus transit depot in the national capital, through a dedicated Rapid Rail Transit System (RRTS). Later, the Jewar airport could be connected with the Eastern Peripheral Expressway that connects Haryana’s Palwal with Kundli, bypassing the Delhi.

The Jewar Airport once completed will be National Capital Region’s (NCR) 2nd airport and is expected to take the load off Delhi’s Indira Gandhi International Airport. The 2nd airport in the NCR region, along the 165-km Yamuna Expressway, is expected to be operational by 2022-23.

How will Jewar Airport Impact the Noida’s Real Estate Market?

If we analyze the current situations of real estate markets around Noida which is going through a tough phase. According to UP-RERA, there are more than 100 real estate projects stuck in the region due to several issues.

It is often come to read that some of the leading developers of the region are facing insolvency cases and many of the cases are pending against Amrapali, Jaypee, Supertech, Omaxe, Logix, 3C, Unitech among others. The darkness involving these cases. Even after two years of these cases, no final solution regardless of what the Supreme Court has justified resolving these issues in a given time frame. But still preventing combined efforts made by the sector contributors in achieving their desired target.

Going through the current situation, Jewar Airport is the much-needed infrastructure this region is looking for.

According to PricewaterhouseCoopers (PwC), it will be able to handle about 5 million passengers per annum initially and up to 60 million passengers per annum after expansion over 30 years and would be able to serve 37 domestic and 31 international destinations by 2050.

Currently, people living in nearby cities have to travel to Delhi for various reasons. If they plan to travel by air, an airport in Jewar will be a huge help for these people. This airport will not only serve the aviation needs of Delhi but also of cities such as Agra, Hapur, Mathura, Aligarh, Khurja, Palwal, Bhiwadi, Bulandshahr, Meerut, etc.

Apart from that, as construction work progress, the project is expected to generate millions of job opportunities and will able to improve investor sentiment.

Jewar was earlier a part of Bulandshahr District but now the locality comes under the jurisdiction of Nagar Panchayat under the Gautam Buddh Nagar district. Due to the continuous developments, rates of the property along the area have risen considerably.

Landowners can experience the difference. In the past, a bigha of land was sold for Rs 4-5 lakh, but rates have now touched Rs 20-25 lakh a bigha. Farmers whose lands are being acquired for this project are being offered three times the circle rate. While the prevalent land rate in the area is Rs 900 per sq.mt, the government is offering villagers Rs 2300 per sq.mt.

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CIDCO Lottery 2019: Results Announced for 1,100 Homes

Oct 1,2019 / By Prahalad Singh / No Comment

CIDCO Lottery Housing Scheme Maharashtra Details:

It is impossible for any state government to offer the overall development of the common people if proper steps are not taken to solve the housing issues. Plots and ready-to-move-in homes are too expensive these days. To see the current market situation, the Maharashtra Govt organizes housing lottery scheme, named City and Industrial Development Corporation Lottery project (CIDCO Lottery). Under this project, financially weak categories will be able to get their homes.

In August 2018, Maharashtra Chief Minister, Devendra Gangadharrao Fadnavis has launched the scheme under Pradhan Mantri Awas Yojana (PMAY). This is a unique project that will not only reduce the development of slums but will offer proper housing to poor and low-income category applicants.

Key features of the CIDCO Lottery 2019 Schemes:

To Solve Housing Problems

The absence of decent housing is a basic problem in cities of Maharashtra. With the help of CIDCO Lottery 2019 Schemes, the CIDCO tries to allow homes to its economically weaker residents.

Affordable Price

It is not possible for a common man to spend several lakhs to make their dream home. This housing scheme by CIDCO is for a limited income group. This scheme will offer an opportunity for such applicants to get their own homes at an affordable price.

CIDCO Lottery – a part of the PMAY scheme

The construction and distribution of these affordable homes, particularly for the financially weaker section applicants will be made as a part of “Pradhan Mantri Awas Yojana” that is financed by the central government.

Defined Carpet Area

The carpet area of the affordable homes, allocated for LIG and EWS categories will be different. All applicants, who will enroll as LIG applicants will receive a home that has a carpet area of 29.82 sq.mt and EWS applicants will get a home that has a carpet area of 25.81 sq.mt.

Application Fee

All interested candidates, who are willing to enroll under this housing lottery scheme, will have to pay a nominal sum of Rs.280 during the submission of the actual application form.

Earnest Fee

During application, candidates will have to pay an earnest fee. It is a sign that they are serious about taking part in the lottery. All EWS candidates will have to shell out Rs.5000 as an earnest payment and Rs.25000 for applicants who will re-enroll under the LIG category.

Housing Prices

All homes, allocated for applicants of the EWS category are priced at Rs.18.50L and those who are applying under the LIG category will have to shell out Rs.26.50L.

Construction Areas

The state govt has already stated the names of the areas where these permanent homes will be built. Navi Mumbai will see the maximum construction of 55,000 permanent houses in this financial year. Under this lottery scheme, these low-income group (LIG) homes are positioned across several areas in Navi Mumbai, including sectors 21, 22 and 27 in Taloja, Sector 40 in Kharghar, Sector 15 in Kalamboli, Sector 10 in Ghansoli and sectors 11 and 12 at Dronagiri.

Eligibility And Required Documents For Application:

Residents of Maharashtra: As this housing lottery scheme will be regulated by the City and Industrial Development Corporation in Maharashtra, only people who are legal residents of this state will be able to register their names. One must have to submit the residential proof certificate to hold up this right.

Specific income groups only

Residents, who fall in the low-income group (LIG) and economically weaker section (EWS) will be allowed to enroll under this lottery project.

Income Criteria

The monthly earning of people applying as EWS applicants must not be more than Rs.25,000 and people who want to enroll as a LIG candidate must earn anything between Rs.25,000 and Rs.50,000. As income proof, candidates will have to submit income certificates.

Applicants should not be a homeowner

Only those people will be allowed to apply for a house under this lottery scheme, which does not possess a permanent home in Maharashtra or any other state. Background checks will be made to verify these details.

Identification details

To support their claims, applicants will have to submit a copy of their Aadhar Card, Voter, and Ration Cards.

Bank Details

As registration fees and other payments are made via online modes, applicants must have their bank account details such as bank name & address, the account number of the applicants, IFSC Code, and other details must submit accordingly.

How much one has to pay for the CIDCO lottery 2019?

Flats for the EWS category would cost between Rs 17-18 lakh, units proposed for the LIG category would cost Rs 25-26 lakh.

How to apply for the lottery scheme?

If any eligible candidate is interested to get his/her own home under this scheme, he/she will have to make an online application. This application can fill up by clicking on the CIDCO official site.

Copy and paste this URL into another window https://lottery.cidcoindia.com/App/
As the page opens, candidates will have to click on the link that is marked as ”Register for Lottery”.
Apart from name and address, applicants need to type in their income details and contact number.
Once all the field has been filled in, the applicants must click on the submit button to save and register the application.
A successful application will trigger the site to create an application code. Applicants must record this acknowledgment code for future usage.

CIDCO Lottery 2019 results announced for 1100 homes:

During CIDCO Lottery 2018, the respective authority emphasized that around 14,838 houses will be built and allocated among people who are not financially stable. During the allocation of homes, it has been highlighted that 5,262 homes for EWS applicants have stored apart while 9,576 lucky LIG category applicants will get their homes which is more than last year in comparison.

The state-run City and Industrial Development Corporation (CIDCO) has announced the results of the lottery draw for 1100 flats on 14th February 2019. The flats up for sale are the ones that were left unsold in the previous housing scheme, draw for which held on October 2018. The online registration process for this scheme under the Pradhan Mantri Awas Yojana ended on Jan 30.

CIDCO has already published the provisional accepted and rejected application list on its official website. A total of 58,786 applications have been received for these houses out of which 4 have been disqualified from the draw. Three of those applications were rejected on the ground that they applied in the different income groups.

Over 94,000 affordable homes coming soon under CIDCO:

The City and Industrial Development Corporation (CIDCO) has made plans for 94,000 low-cost homes in Navi Mumbai. A sum of Rs 19,000 crores has been recommended for this purpose. As per the plan, 53,000 units will be kept for the lower-income group (LIG) while 41,000 units would be reserved for the economically weaker sections (EWS). Construction is supposed to begin once the registration process under the Maharashtra Real Estate Regulatory Authority (MahaRERA) is complete.

These homes, once completed, will be one of the largest bulk to be constructed under the Centre’s project – the Pradhan Mantri Awas Yojana (PMAY).

How can I check my CIDCO Lottery 2018 results?

Visit lottery.cidcoindia.com/app
Click ‘Accepted Applications’. The page will be redirected to a new page where you can select the lottery scheme.
Select the area which you have selected in your online application form. You can find your name on the list if your application has been accepted by Cidco.

How can I check my Cidco Lottery 2019 results?

The results can be viewed on www.Cidco.maharashtra.gov.in and lottery.Cidcoindia.com

Log on to lottery.Cidcoindia.com
Click on the “View Lottery Result” link
Fill your application details to check the Cidco lottery result 2018

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