Real estate transactions
The Real Estate (Regulation and Development) Bill, 2013, is likely to be taken up for consideration in the Winter Session of Parliament, said a senior government official who attended a high-level meeting on the subject on Wednesday. The meeting of the Union housing and urban poverty alleviation ministry was convened in the run-up to a [...] Continue Reading »
The Union Cabinet’s nod to the Real Estate Regulatory Bill has made buyers feel happy and secure; on the flipside, some of its provisions have left the developers panicking. Views of MHUPA Ajay Maken, minister of housing & urban poverty alleviation, said that the bill provides for a uniform regulatory environment to protect consumer interests [...] Continue Reading »
Some of the new amendments made in the Finance Bill, 2013 to the Income-tax Law is expected to have a deep impact on real estate sector in the 2013-14 fiscal. The amendments relate to taxing the notional income in the real estate transactions as against the real income of the real estate developers as well [...] Continue Reading »
New Delhi: Realty developers are likely to seek finance ministry’s help against the proposed property tax to be imposed on property sales. The realtors are worried that the additional tax would curb the growth of the real estate sector which is already facing slowdown. By inserting Section 43CA in the Income Tax Act, the government [...] Continue Reading »
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 »
New Delhi- The new regulator has just proved to be beneficial for the buyers, as it will keep the builders on a tighter leash while selling their projects. With the new regulatory law in effect, the builders can no more sell their projects based on their initiated ‘super area’ concept rather they will sell their residential properties [...] Continue Reading »
Mumbai property market is experiencing hard times from past one year and adding to it the Mumbai Development Control Regulations or DCR guidelines, doled out five months back. Developers and consumers are furious against the enactment of the new guidelines. The Maharashtra government had amended the DCR regulations in February this year to bring more [...] Continue Reading »
As of now only loan-linked properties are being put in the registry. To improve the transparency of the deal in real estate, it is proposed to include all transactions of the real estate projects in the central registry. The National Housing Bank proposed for a pilot project for registering all properties in central registry. According [...] Continue Reading »
The government has planned to implement the TDS scheme for all transactions in real estate sector. In the new property transaction scheme, any person selling a property in excess of Rs 25 lakh had to seek the prior permission of the Government. The new concept of deducting tax at source will be effective from October [...] Continue Reading »
Real estate property is a good market for investments. However, the income tax structure on the real estate transactions are sometimes confusing among the investors. In income tax there are two types of tax rules: short term capital gain (STCG) and long term capital gain (LTCG). If an investor sells any property within three years [...] Continue Reading »
