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News Updates

26 Feb19

Will Home Price Go Down with the Revised GST ? (Expectation vs. Reality)

The recent update has made quite an uproar in the property marketing of late. Will this maneuver bring in the silver lining in the residential property business or there are still some hidden innuendos? Let’s dig in the real facts behind the recent realty rules.According to the revised tax rate, under construction homes are likely to attract 5% of GST whereas the new effective GST rate for affordable homes would be just 1%. Likewise, the Council has removed the tax credit benefit on

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23 Jan19

Rs. 20,000 above cash transaction in real estate now under I-T radar

Rs. 20,000 above cash transaction in real estate now under I-T radar. Seems like there is no way one can hide or tweak their property transaction. In case you are found paying Rs. 20,000 above amount while purchasing property in the capital, sooner or later you will be served a notice by the Income Tax department.News has been doing rounds that the I-T department is about to initiate a drive where any realty purchase where the cash transaction exceeds Rs. 20,000 benchmark will be subject to I-T

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30 Oct18

Is NBFC funding crisis, the next big threat to the Indian realty business? (An industry insight)

Is NBFC funding crisis, the next big threat to the Indian realty business? (An industry insight) It’s been almost a couple of quarters while Non-Banking Finance Companies (NBFCs) have been undergoing a financial crunch, caused by the tighter fiscal policy. The inverse market situation stirs both the 'consumption' and 'investment' capacity of individuals. Since NBFCs have been one key source for the local real estate developers and corresponding stakeholders; it's no surprise that the

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16 Sep18

CAC inquired the sub-committee to instil West Bengal in taking up RERA It’s been over a year now the central government mandated the Real Estate Regulation.

CAC inquired the sub-committee to instil West Bengal in taking up RERA It’s been over a year now the central government mandated the Real Estate Regulation & Development Act, 2016 (RERA) all across the country. Where most of the states and UTS acted on the centre’s guideline, West Bengal and a few other states have hit the skids.Now the members of the Central Advisory Council constituted by the Ministry of Housing and Urban Affairs under the Real Estate (Regulation &

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11 Sep18

Why it is the ideal time to invest in Mid-Budget Flats in Kolkata right now

Want to buy a home in your early thirties? Are you looking for compact apartments in a metro city? The industry experts suggest that investing in mid-budget flats in Kolkata can lead you to the throne. Research indicates that 80% of the young homebuyers consider property portals (esp video contents) while choosing an apartment. But there are other prime facts too which can return the maximum on your investment. One essential fact would be keeping yourself updated with the latest governmental

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11 Sep18

Builders might have to retaliate up to Rs. 20,000 crore in accordance with new accounting rules: (Industry insight)

A life-size wave is all set to bump on the realty builders. As per the wandering industry reports, the implementation of a new accounting standard from this fiscal (starting from 2018) will compel the listed real estate companies to write back profits, that have been consummated from all those projects under completion more than a year now. This could be another socking line of attack to greet those real estate companies which have been reeling under insolvency code for the past few years or

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09 Aug18

What made real estate developers file writ petition against GST council? (An industry update)

A group of real estate developers of Maharashtra recently moved the Bombay High Court against the Goods and Services Tax (GST) Council, central, and the state government of Maharashtra of late. As per the latest industry reports, the prime reason behind dragging the central, state government, and the GST council is the applicability of GST on mere transfer of land development rights by the owner to a realty developer. To be more specific, real estate developers challenged a recent

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