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Real Estate Forum on Apartment In Bangalore

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Q: I am currently residing in 84 flat apartment in Bangalore. Some of the members in our association would like to efficiently segregate the daily waste and sell some of the non-biodegradable items like plastics, bottle and polythene covers etc. to old paper mart.

However, we are not sure if the money gained by selling the old items are taxable, any proof for source of this income needs to be filled during the yearly finance audit.

Please advice, how to manage the funds that are generated through waste management. Do we need a separate apartment bank account specifically for this purpose.

Latest Answer: The Waste comes under Scrap Sales and the Association has to register with Commercial Tax Dept and they have to collect VAT @ 5% on the value of Scrap Sold to any body. And they have to remit the Tax collected to the Commercial Tax Dept monthly and they have to file returns. This has to be accounted as Income from Scrap and is liable to Income Tax. There is no need for having a separate bank account for this. Also please check with with your Auditor for better clarification.
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Q: Are they quoting any discounts or negotiations ? I m looking for 2 bhk.
Latest Answer: What is the current rate per sqft they are quoting? What is your feedback about the locality for investment purpose? Can I except good appreciation?
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Q: When is the completion date ? Is the project approved ?
Latest Answer: Whitefield is well connected to the major areas of Bangalore with a wide range of transport service like BMTC bus services and BIAL services to Bangalore International Airport. Whitefield has seen an upward trend in realty market due to a high number of IT/ ITeS companies in the neighbourhood and also the credit befalls good connectivity. Whitefield has become a self-sustaining suburb with residential projects, modern-format retail malls, hotels and other social infrastructure. Whitefield can be easily reached from any part of the city via two streches in KR Puram and Marathalli.
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Q: Heard this project is recently launched. Can you please share some details about the project.
Latest Answer: Hello, you can follow this link for your requirements Geras Isle Royale, Pune OR Kindly call on the toll free number (1800) (180) (180) (180) Or You can Post your Requirements to get matching properties details on your Email and Mobile.
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