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News Updates

08 Aug22

Reason Why Home-Buyers More Interested in Buying a Flat in New Town

Kolkata’s real estate market is witnessing a speedy transformation. The city’s property market, coming out from the stagnation post demonetization and GST, has gained much momentum in recent times. With the apprehension about GST getting cleared, New Town is gradually receiving increased buyers’ interest in recent months. Affordability Is the Key For Buying A Flat in New Town Pricing and value are always the primary concerns while looking for flats for sale in New Town

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05 Aug22

Repo Rate Hike: How will homebuyers get impacted and what should they do?

The RBI increased the repo rate — the rate at which the central bank of the country lends funds to the commercial banks — by 50 basis points (bps) to 5.40 per cent in its bi-monthly policy meeting today. The decision is going to impact a large number of home loan borrowers and impact the prospective borrowers who are planning to buy a new house. Here is how the repo rate influences the home loan rates Every time a home loan is taken, the first thing that comes to mind is the

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30 Jul22

Who has to pay 18% GST on residential rentals?

Union Finance Ministry Nirmala Sitharaman on July 13th, 2022 issued Review of central tax announcement wherein it brought residential rentals under GST ambit from July 18th 2022 onwards with immediate effect. The previous June 2017 order, bringing residential dwelling rented to a registered person under 18% GST tax payment. who is living in a rented flat and doesn't have a registered GST number, won't have to pay 18 of GST. Meaning, that a salaried family staying in a rented house need not be

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26 Jul22

Chinese property stocks rally on $44bn bailout hopes

China will set up a real estate fund to help developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44.4 billion), according to a state bank official with direct knowledge of the matter. The size of the fund would initially be set at 80 billion yuan through support from China Construction Bank and the People's Bank of China (PBOC), the person, who declined to be identified due to the sensitivity of the matter. The source said the fund will be used to

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16 Jul22

Essential 11 Legal Documents While Buying a Property

Use this handy guide to help you navigate the real estate pitfalls you may encounter while buying a home. While purchasing property, it is essential to check that the following documents are in order: Agreement to sell – It is the first document prepared in anticipation of a sale of the property. It contains a detailed description of the property and states the terms of conditions between the buyer and the seller, including the purchase price as agreed upon. Absolute sale deed and title

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15 Jul22

KMC create 'repair fund' to help heritage building owners

For individuals who cannot afford to maintain their heritage buildings, the KMC will create a fund to take up urgent repairs. All major corporates that own heritage buildings in Kolkata will have to ensure they are properly maintained. And private owners of heritage buildings to ensure proper upkeep by exploring means to monetize the properties by putting them into adaptive reuse. KMC tell the corporates to take an initiative for upkeep of prominent heritage buildings they own. And also

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09 Jul22

Pandemic leaves imprint on home buying

After two years and three waves, the pandemic appears to be on the wane. But developers believe it'll leave its impress in home-buyers' minds for several times more, leading to advanced demand for larger homes than was previous to the pandemic. While the largest pie of home deals comprised two-bedroom homes the pandemic saw the home buyers willing to invest further to buy bigger homes. Accordingly, demand for three bedroom homes excelled that of two-bedroom apartments in 2020. In 2021, demand

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08 Jul22

Reason To Invest In New Alipore !

If you want to invest money then New Alipore could be a safe choice for you. In one word it is a very peaceful place. It is situated Between Majherhat and Tollygunge. It is the border of Budge Budge section. On the east side, it has Chetla, Behala is on the south side, and Diamond Harbour Road is on the west side of the New Alipore. It is a very popular place. Many people live here. Roads are always busy with traffic jams. Lots of shops and markets are located in this place. What is the best:

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29 Jun22

Kolkata New Town Development Corporation create a panel to resolve citizen complaints

NKDA plans to form an apex committee comprising representatives of residents’ welfare associations (RWAs) and registered housing societies across New Town along with officials of NKDA to address civic issues. “The committee will have representations from all RWAs and registered housing societies in New Town, and a chief engineer and others from NKDA. The committee may meet once a fortnight through video conference where local civic issues and grievances can be heard and

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23 Jun22

7 benefits of investing in a plot of land

1. It offers greater flexibility When purchasing an apartment, buyers are often limited to the architect’s vision of the home. They can only make a few customizations to the property and changing the layout of the home is completely out of the question. A plot of land, in contrast, is like a blank canvas to build your dream home upon. You can design your home from scratch, add elements that are important to you and even use your choice of materials. A house lasts you a lifetime,

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