Muniraj, Chennai
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Service tax on rent
Q: Is service tax payable on rent? What is current service tax in Chennai?

Latest Answer: Hello Muniraj, Yes, a tenant has to pay service tax as it is declared service. However, there are certain exemptions and condition for it. Tenant need not to pay service tax when the residence is used for residing but in case for commercial activity the same is covered However, he or she is not liable to pay service tax unless it exceeds threshold limit of service tax which is 10 Lakhs. Renting of vacant land is not taxable Renting of property to educational institution and RBI is also exempted.

RS Elegance phase II project review
Q: I am planning to book an apartment in this project so can I avail home loan from LIC or Axis bank for this project. My budget is around Rs 60 lakhs so can I get a 3 bhk here.

Latest Answer: What is your take about the project and how is the locality?

Chennai metro
Q: Will the Chennai metro lead to a boom in the real estate prices in Chennai ?

Latest Answer: Chennai metro would lead to a boom in property prices. Anna Nagar is one such area where two metro stations are being planned and experts suggest that it would lead to a boost in the property values. Hence making it a great opportunity for people to invest in the area. Builders are looking to establish their projects in such areas as well giving you viable options to invest in. Radiance Realty has planned to establish luxurious apartments in the area. So, if you are looking to invest in such areas, you can look up Radiance Realty to see what they have to offer.

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