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Stamp duty collection to rise with high value property deals

Stamp duty collection to rise with high value property deals
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 »

Flats in Mumbai to witness hike in stamp duty

Flats in Mumbai to witness hike in stamp duty
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 »

Stamp duty payment on property transactions to become easier

Stamp duty payment on property transactions to become easier
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 »

Patel Nagar realty profitable to investors though sales fall

Patel Nagar realty profitable to investors though sales fall
Ghaziabad- The real estate scenario of Patel Nagar seems to be contradictious as the properties, mainly after the metro coming up, are gradually witnessing value appreciation while the number of property transactions are not increasing. It has to be noted that though there is no scarcity of land to develop residential projects in Patel Nagar, [...] Continue Reading »

Real estate bill likely to favour property buyers

Real estate bill likely to favour property buyers
Property buyers will have many reasons now to cheer. The Real Estate (Regulation and Development) Bill is in its planning stage and Parliament is likely to discuss the same in its coming budget session. As per real estate experts, a strong law will be put forward to stop unethical and unscrupulous practices in the real [...] Continue Reading »

Chennai suburbs to see significant realty growth

Chennai suburbs to see significant realty growth
Chennai- Chennai real estate market has been exhibiting positive signs of growth, especially in the suburban areas, owing to the fast development of sectors including IT, financial services, telecom and other allied services, which are the key economic drivers of the city. A 20-25 percent rise is observed in the number of queries over residential [...] Continue Reading »

MMRDA exploring new avenues to generate funds

MMRDA exploring new avenues to generate funds
In order to generate more revenue to fund infrastructure projects in Mumbai and other areas, Mumbai Metropolitan Region Development Authority (MMRDA) has sold land parcels in the Bandra-Kurla Complex (BKC) and Wadala. Over Rs 70,000 crore expected towards infrastructure projects in the next decade, the projects is in urgent need for alternate sources of revenue [...] Continue Reading »

Punjab developers oppose cess imposed by govt

Punjab developers oppose cess imposed by govt
Developers in Punjab has opposed the state government’s move to levy social infrastructure cess on property transactions. Confederation of Real Estate Developers’ Associations of India (CREDAI), Chairman, Anil Chopra stated that it would hit demand in the real estate sector which is already undergoing slowdown. Poor demand in real estate sector can be gauged from [...] Continue Reading »

Residential values going down in Mumbai

Residential values going down in Mumbai
Mumbai is witnessing supply outpacing demand in the residential sector. On one hand, upcoming projects are witnessing very subdued response from the buyers and investors. On the other hand, pace of construction is slow and almost 70 per cent of the total residential units under construction in the northern fringes of the city remain unsold [...] Continue Reading »

Maharshtra govt to waive penalty on VAT

Maharshtra govt to waive penalty on VAT
Maharashtra finance minister has indicated that the state government will provide a waiver on 15 per cent interest as penalty on value-added tax (VAT) levied on property transactions between 2006 and 2010. The news comes as a relief for the property developers and buyers. The government further clarified that VAT will be levied only on [...] Continue Reading »



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