News Updates
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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
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
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
Kolkata overtakes Hyderabad to become the most affordable residential real estate market: Report
Kolkata is the most less costly residential real property marketplace as it overtakes Hyderabad. Home buy affordability improved across key Indian cities which had been a part of the Index. This changed into regardless of a bigger fall in annual household profits compared to residential property fees. A sharp decrease inside the price of investment (average home mortgage prices decreased from (8.9% in 2019 to 7.5% in 2020), greater than offset the detrimental impact of lower earning on
Property registration sinks in Mumbai
Mumbai real estate, the most developed and emerging market which supports the industry the most. But as compared to July, the property registration has immersed in August because most of the homebuyers put their foot backward while registering their property as they have waited for the announcement of the reduction in stamp duty charges by the government. The stamp duty collection in August is Rs.202crore which is comparatively lower than July which was Rs.240crore in July. The affordable
Process of acquisition from Joka-Esplanade Metro in Kolkata
The working procedure of Joka-Esplanade Metro has been started including the underground land acquisition. A joint survey has been done on land by the Rail Vikas Nigam Limited (RVNL) and Kolkata Municipal Corporation (KMC), the monitoring agency of Kolkata metro projects. Under the jurisdiction of the Metro Railway (Construction of Works) Act the notifications will be issued for acquisition of 1.5km stretching between Mominpore and Ekbalpore. There is the stretch of land about 400m
The daughters also have the right to HUF property as per the law
As per the notifications of the amendment, the daughters are also having the legacy right on the property if both the father and daughter were alive from the announcement of the law as of September 9, 2005. The Supreme Court has stated the judgment in the favour of daughters that they also have equal rights on the HUF property (Hindu Undivided Property). To redress the complications a committee including three judges clarifies that as per the rules of the Hindu Succession Act, the
Reconstruction of loans by RBI for more relief to the stressed real estate developers
To provide more relief to the stressed real estate developers and borrowers of the housing segment, the RBI has given the moratorium of 2years for a one-time reconstruction of loans. The one time reconstructing of loans will not be categorized as non-performing assets and hence it will be recommended with the help of experts if needed. The RBI’s indulgence in this scenario is highly appreciated because it is necessary for unchanging the policy rates and also to revive the sector
100% waiver on the interest of property tax dues: KMC
There is a total due of Rs.3500crore on property taxes. The Kolkata Municipal Corporation (KMC) has provided the 100% waiver on the interest outstanding taxes from August. This offer is valid for six months as per the guidelines of KMC. Previously, the defaulters got the waiver of 50% on the interest of property taxes which was yet to be paid to the Kolkata civic body. But now, the KMC has taken a berserk step for the compensation of revenue tax loss which was faced during the lockdown
Why should we invest in Kolkata Real Estate?
Investors should plan to invest in Kolkata real estate after investing in gold because it assures the best and beneficial guaranteed returns. This city is gradually showing the improvement in infrastructure and housing segments. It has a wide range of residential and commercial units that support the bulk population and tenants. There are various factors for which the investors from the country and even from abroad attracted to the Kolkata Real Estate. We will give you the most convincing
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Recent Posts
- Luxury housing sales went up by 21% in February :Report
- KYC and Source of Funds required from buyer/seller for any real estate transaction, by Real Estate Agent
- GST applies to one-time maintenance deposit flat customers pay developers: AAR
- Bidhannagar civic body proposes uniform belongings tax structure for Salt Lake, Rajarhat
- Kolkata overtakes Hyderabad to become the most affordable residential real estate market: Report
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