Properties in Mumbai
The new capital value based tax system which was being objected by the citizens all this while, has been given an extension of two months grace period. The citizens can now pay as per the old rates up to March this year. The residents have to visit the assessor and collector department at the local [...] Continue Reading »
Bangalore- One of India’s most expensive real estate destinations, South Mumbai is expected to see a revival this year after a long gap of one year. The key reason for the boost in the realty sector in this region is due to the fact that the developers are all set to launch their projects alongside [...] Continue Reading »
Due to the price correction, home prices in NCR regions and Mumbai will reduce after a long time. Increased property prices, lower demand and liquidity issues have resulted in pushing the prices lower in various markets which has recently resulted in price appreciation. As per reports, there was an increase in property prices in Gurgaon [...] Continue Reading »
The 40% of government leases of the plots in Mumbai have expired long back, some as far back as the 1950s. Of the 1,282 plots leased, the lease of 532 plots had expired and the government has not bothered to renew it. 51.66 lakh sq mt of leased land situated in South Mumbai is fetching [...] Continue Reading »
Lodha Group is all set to achieve a new feat which has not been achieved by any other builder. The group is set to get new sales of over 70% this fiscal year to cross the Rs 10,000 crore mark. The MD of the company has claimed that they have been in the Rs 5,000-6,000 [...] Continue Reading »
With the increasing protests from the citizens of Maharashtra against new property tax system, a demand for a stay on the regime has now been made to the state government. Recently, Brihanmumbai Municipal Corporation (BMC) had introduced the new property tax system in the state, following which many protests were witnessed. A MP from North [...] Continue Reading »
Mumbai- With rising number of oppositions to the new property tax system introduced by the Brihanmumbai Municipal Corporation (BMC), the Maharashtra chief minister has been requested to issue stay on the regime. One of the member of parliament has asked CM Prithviraj Chavan to order a stay against the new system because under the new [...] Continue Reading »
Mumbai- Due to a reducing number of property bookings, the inventory of unsold properties in Mumbai is piling up which is further forcing the developers of the city to decrease property prices. According to real estate consulting firm Knight Frank, the number of unsold inventory of the real estate projects in Mumbai has increased by [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) seemed to have juggled up the guidelines to calculate the new property tax system. The property tax under the capital value-based system has missed out on some key factors to compute the same. The civic body has not taken into account several factors like leased and freehold land as well [...] Continue Reading »
With the new property tax system in place, Brihanmumbai Municipal Corporation (BMC) is yet to frame guidelines to decide on weightages needed for calculation of the tax. For buildings with multiple-age and construction types, deciding on the weightages is one of the crucial parameters for calculation of the tax. A weightage is defined as the capital value [...] Continue Reading »
