Property
The roller coaster ride in Indian realty seems to have no end to it! The investments in realty industry is dashing in a sense of dilemma in the investors and property buyer’s mind! With so much of fluctuations happening in the realty industry, the investors and property buyers are hardly showing any interest in property [...] Continue Reading »
As per the recent Bombay High court’s order, service tax will be levied on construction of properties. Earlier, Maharashtra Chamber of Housing Industry (MCHI) challenged the order of paying extra service tax. The order also stated that only state government has the power to levy tax on flats, buildings and other plots. MCHI has already [...] Continue Reading »
Builders in Mumbai are a worried lot now over various issues. Maharashtra Chamber of Housing Industry (MCHI) met the state chief minister to reverse back the Ready Reckoner (RR) rates as it was in 2011. The builders also wanted a permanent solution for getting instant clearances for building projects. An abrupt increase of 46% in [...] Continue Reading »
Nobody is spared from paying property tax, neither a common man nor a king. The quote holds true as the Bruhat Bengaluru Mahanagar Palike (BBMP) has put a huge tax of around Rs 1 crore on the family of Mysore Maharaja, Jayachamaraja Wadiyar. The tax has been levied on their litigated land in Palace Grounds [...] Continue Reading »
With so much happening in real estate, some developers look for an opportunity to make it big in the market. Due to heavy debts, many developers are selling off their pet projects. The rich developers grab this opportunity by getting a good deal out of it. Developers like Sunteck Realty, Ajay Piramal Group, Peninsula Land, [...] Continue Reading »
According to the revision of property tax, VVIP areas are spared of the new of the same. As per the New Delhi Municipal Council‘s (NDMC) budget, apart from having no new developments, VVIP areas are spared to pay any extra property tax. The civic body alleges that there is no increase in property tax and [...] Continue Reading »
Greater Hyderabad Municipal Corporation (GHMC) has given a rude surprise to L B Nagar property owners. As per sources, GHMC had sent revised tax notices to the shop owners for the last two months. But the notices had numbers which was unbelievable to the owners. The new tax rules says that rates have been levied [...] Continue Reading »
Realty experts are wondering as to how all the luxury segments across India are being maintained? Midst all the concerns like; interest rate hike, property prices hitting sky high and property tax amount increasing. This is not at all a right time to invest or sell a property. The high inflation has been a major [...] Continue Reading »
Soon, paying property tax in Chennai is going to be an easier task, thanks to the city corporation. The Chennai Corporation has taken this initiative of appointing at least five public and private sector banks for collecting payment of property tax. The facility is planned to be launched after Pongal. The participating banks would be [...] Continue Reading »
Now, properties in Bangalore will be identified by their new property ID. Bruhat Bangalore Mahanagara Palike (BBMP) is soon going to launch the new Property Identification Number (PID) by mid of February 2012. This came into being after the old numbers resulted in ineffective mechanisms of revenue collection. The civic body will operate by collecting [...] Continue Reading »
