property in Mumbai
With the increasing property deals of high value in the state, it has been forecasted that the stamp duty collection is also going to boost up. As per Inspector General of Registration and Controller of Stamps, revenue generated from stamp duty will be around Rs 2000 crore in the financial year 2012-13. However, the property [...] Continue Reading »
A bad news is in store for tenants and owners of flats in Mumbai! Stamp duty is going to be dearer for flats in the city after the recent announcement of budget by state finance minister on 20th of March. The hike in stamp duty will be applied for both rentals as well as leave-and-licence [...] Continue Reading »
The new property tax system by Brihanmumbai Municipal Corporation (BMC) has been opposed by the real estate builders. The developers have even showed their support to consumer associations protesting against the tax system. According to the new system, the property tax is computed based on the capital value of the property as against the earlier system of going [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has given a relief to the residents of Mumbai by announcing an extension in dates for payment of property tax. Now, the last date for paying the new capital value based property tax is extended by three months. However, an official announcement is yet to be made. For many days, citizens [...] Continue Reading »
Residents of housing societies in Mumbai are planning to stage a dharna and one day hunger strike at Azad Maidan to protest the new property tax system. The major concern of the residents lies with the ground realities which affects a property’s price, are not taken into consideration in the ready-reckoner rates. They claim it [...] Continue Reading »
Paying stamp duty on property transactions is going to be easier now. The task of going around multiple offices will be eased very soon. To make the stamp duty collection system easy, Maharashtra cabinet has approved a new model under which authorized banks will collect stamp payments. With this the whole system will be secured against [...] Continue Reading »
Mumbai- The recent proposal by the BMC is expected to be quite beneficial to those who are planning to buy a property in Mumbai. The civic body in the city is planning to launch its own housing scheme in the vacant plots. As per BMCs plan, they are planning to construct houses on the vacant [...] Continue Reading »
Unconvinced with the new way of calculating property tax, citizens in Mumbai are planning to move to Bombay High Court regarding the same. The new method is based on the capital value-based system. The major concern of the residents lies with the ground realities which affects a property’s price, are not taken into consideration in [...] Continue Reading »
Most part of the previous year witnessed slump in real estate market. However, December 2012 saw a substantial recovery in home sales registrations. But according to the market experts, the rise in property registrations was only due to marketing gimmick and not a sign of revival. As per data from the Director General of Registrations, [...] Continue Reading »
According to Knight Frank report, there was a 4 percent year-on-year decline in the cumulative revenue of Rs 67.44 billion in India’s top 25real estate companies in the second quarter. As per the analysis done by the property consultant, there was an improvement in the sale on the residential sector. While the revenue of the top [...] Continue Reading »
