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News Updates

14 Apr21

Luxury housing sales went up by 21% in February :Report

Luxury housing sales in India’s seven primary markets went up 21% in February to 8219 units from 6,786 units a year ago following extra demand for open and bigger spaces because of the Covid-19 pandemic. Delhi-National Capital Region (NCR) emerged as the most important beneficiary of the trend as it recorded an increase of 54% in luxurious housing sales. Mumbai Metropolitan Region (MMR) changed into next with a 37% growth, followed by using Bangalore (13%), Pune (12%), Chennai (8%) and

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12 Feb21

KYC and Source of Funds required from buyer/seller for any real estate transaction, by Real Estate Agent

The government has issued two notifications dated December 28, 2020, making it obligatory for real estate agents to keep records of transactions facilitated using them under the PMLA (Prevention of Money Laundering Act, 2002 ) rules. Here is a have a look at what has been amended, its impact on home buyers and sellers, and what will manifest if one does now not observe the guidelines. If you're looking to buy a residence, then your real estate agent will ask you to undergo a KYC process and

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13 Jan21

GST applies to one-time maintenance deposit flat customers pay developers: AAR

The AAR bench, though, brought the quantity will be concern to GST on the time of actual supply of service—when renovation services or maintenance of common place areas and centers are achieved, in future, with the aid of utilising these deposits. MUMBAI: The Gujarat bench of Authority for Advance Rulings (AAR) these days held items and services tax (GST) would be relevant to a one-time upkeep deposit gathered by a builder from its consumers as it's miles

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