Property Tax
Many high valued properties in India are avoiding the payment of stamp duty as the buyers are acquiring the shares of the construction company, which owns the property. In the process the buyers are not transferring the ownership of the property in their name by paying stamp duty. Thus the seller avoids the payment of [...] Continue Reading »
GHMC has planned to revise the property tax rates for the property in Hyderabad. The owners of the real estate property in Hyderabad are expecting the general revision of property tax , which will be implemented in the next financial Year. According to sources, the GHMC has set a target to collect Rs 1000 crore [...] Continue Reading »
The government of Delhi has banned the sale of any property in Delhi through Transfer of General Power of Attorney. This order by the government will impact the buyer, who had bought properties since October last year. This was a common mode of purchase, almost 40% of transactions are happening in this mode of transfer, [...] Continue Reading »
Two buildings across the cities of Gujarat have been legalized under the new impact fee norms in the past two months. The impact fee is too high and there is no clarity on issues related to parking space. That is the reasons the owners of the apartments in Ahmedabad are not showing any interest in [...] Continue Reading »
The Gurgaon Municipality has decided to form four zonal committee to resolve the objections raised by the residents. It is informed that there are over 50,000 pending objections related to housing tax under the municipality. The councilors suggested that ward-wise house tax committees should be formed and plots smaller than 50 square yards should be [...] Continue Reading »
Everyone is dreaming of owning a house. But to construct a house anyone needs to follow certain rules. First of all the approval of the building plan is required. Along with the plan certain clearance from the fire safety, environment and transport departments are required before starting the construction work. In most metro cities of [...] Continue Reading »
Ahmedabad Municipal Corporation (AMC) has failed to take concrete steps for regularising the illegal constructions. After the collapse of Saudagar Ni pol, the authority asked the builders and the apartment owners to regularize the illegal constructions. The Municipality has identified 2000 illegal constructions in six different zones of Ahmedabad. Majority of the illegal constructions are [...] Continue Reading »
All the real estate properties in Bangalore have been given a new PID number. The Property Identification Number will contain the information of ward number, new street ID and newly allotted property number. To find the PID number online for any property, users needs to visit the BBPM website (http://bbmp.gov.in/). Then users need to navigate [...] Continue Reading »
The guideline value of the properties in Chennai are 10 to 45 percent less than the actual market price. After five years the Chennai government has revised the Guidelines values last year. This value is used by the government to access the value of the property for collecting the service tax. Growing demand for housing [...] Continue Reading »
