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News Updates

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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