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News Updates

28 Mar22

Kolkata New Town development body opens property tax camp

The New Town Kolkata Development Authority (NKDA) has opened a special camp to help residents of New Town clarify their property tax queries and clear dues. The camp, that got underway on March 15 will continue till March 31. NKDA officials said they were receiving complaints from people who were facing problems while paying tax online and that many were receiving notices demanding double payment. The ongoing camp at NKDA Bhavan will stay open till 2pm daily. According to officials in the

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28 Mar22

Bidhannagar civic body plans 10% penalty on property tax dues

In order to check delayed of property duty within the stipulated time frame, the Bidhannagar Municipal Corporation plans to impose a 10 penalty on the arrear property duty on an yearly base. A huge amount of pending tax for the former quarters which the civic body is yet to collect. As per records, Rs42.1 crore is lying as unrealised property tax as on March 31, 2021 out of which Rs19.3 cr is for Salt Lake area and Rs23.1 crore is for Rajarhat-Gopalpur. The penalty will be calculated on the

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21 Mar22

The realty dream on the world realtor’s day

World Realtors day is an occasion to recall the role of realtors in the real estate ecosystem. The occasion involves all the stakeholders in the eco-system. The day is dedicated to all the realty professionals and is also considered as a tribute to the Realtor community at large that has been driving the real estate industry. NAR- India has always been focused on imbibing transparency, accountability, ethical practices and professional conduct into real estate brokerage. In synergy with the

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15 Mar22

Real Estate on the high rise again

Real estate companies are recovering their pricing power as the stock of unsold houses trends down and building costs, substantially steel and cement, keep climbing. The industry has been petitioning GoI to regulate prices, reduce taxes and allow easier significances of chief construction materials. Now, the leading developers have begun to pass the added costs on to buyers, in some cases by over to 10 of the price of a house, and they aren't reporting any adverse effect on sales. The surge in

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12 Mar22

West Bengal extends stamp duty & circle rate sops for six months

The state government has again extended sops for real estate in this Budget till September 30, 2022 for six months. The state had allowed exemption of 2% rebate on stamp duty and 10% rebate on circle rate of land/property in the financial year 2021-22. The existing relief is coming to an end on March 31, 2022. CM Mamata Banerjee said after budget that it has got a good response following the sops. The minister of state for finance Chandrima Bhattacharya stated in the Budget that home buyers

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10 Mar22

KMC to approve real estate projects in 30 days

KMC will try to expedite the single-window clearance process further to ensure real estate projects receive a go ahead within 15-30 days.  The KMC had rolled out an ease-of- doing business design in February 2020 but it was kept in latency due to the pandemic. The reforms were ushered in as part of a crucial index in World Bank’s assessment on “ ease-of- doing- business”. Sections of KMC building rules too had been amended to offer land owners or realty developers

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