Realty News
With the enhancement of fee for encumbrance, marriage certificate and many other services of the registration and stamps department few months ago, the state government is working towards increasing the land value for both agriculture and and non-agriculture land for registration purposes. With the increase in the land value, the property buyers will have to pay [...] Continue Reading »
With the arrival of the festive season, the residential sales across most micro markets in and around Hyderabad are witnessing a great improvement. There are a number of new launches in the city especially in the villa sector. Projects like First Leaf by Pooja Ventures was launched at Tellapur, The Retreat by Rajapushpa Properties and Vasathi [...] Continue Reading »
A newly launched project by Bhartiya City, in Hebbal, Bangalore is set to change the complete lifestyle of people. This project aims to establish a living space which addresses the needs of the family and the society. The project will flourish a lifestyle facilitating a safer environment for children, a convenient play area along with easy access to retail stores. Snehdeep Aggarwal, Chairman, [...] Continue Reading »
The under-construction buildings which were purchased by buyers in the past six years will not attract any VAT (Value Added Tax). It was told by the legal and tax consultants that residents under Mhada will not have to pay any VAT as Mhada does not enter into any sale agreement with its buyers unlike in private transactions. As per [...] Continue Reading »
The residential property sales have become strong with developers launching new projects at lower rates and offering incentives. According to Liases Foras Real Estate Rating and Research, housing sales in top six cities have witnessed a growth of around 30% year on year in three months. While in Mumbai, the sales volume of the most [...] Continue Reading »
Jharkhand’s land registration department’s revenue is overflowing with increasing land rates. The government received Rs 171 crore in revenue in 2008-09, and in 2010-2011, the department has crossed 100%. With the coming of big brands and many educational institutions, demand is soaring, said realtors. The department already received Rs 418 crore and achieved 92 per [...] Continue Reading »
Confederation of Real Estate Developers Association of India (CREDAI) has called for the one per cent norm related to VAT payment to be adopted for the retrospective period between 2006 and 2010. The issue is pending with the Supreme Court, which had issued an interim order asking that the VAT on properties sold between the [...] Continue Reading »
After the Reserve Bank of India’s decision to hold the rates, real estate developers say that although they welcome the reduction in cash reserve ratio (CRR), they are disappointed with the fact lending rates have remained the same. In the policy announcement, RBI cut banks’ Cash Reserve Ratio (CRR) by 25 basis points (bps), while [...] Continue Reading »
With the extension of the deadline to pay the Value Added Tax (VAT) dues by the Supreme Court, now the buyers and the developers are quite relieved. The deadline has been extended October 31 for the VAT on flats purchased in Maharashtra between 2006-2010. Also the SP has directed the Sales Tax Department to waive [...] Continue Reading »
In a recent launch by the Chief Minister J Jayalalithaa in Tamil Nadu, a housing scheme for police personnel has been initiated as a part of the government’s resolve to cater comfortable dwelling units for the uniformed personnel. The foundation stone for the construction of about 2,673 multi-storeyed dwelling units under the first phase of “Own [...] Continue Reading »
