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Is Akshaya Tritiya good for purchasing a property?
Akshaya Tritiya, also known as Akti or Akha Teej, is a popular Hindu festival celebrated in India. It is considered an auspicious day for new beginnings and is often associated with buying gold and property. Many people believe that purchasing property on Akshaya Tritiya can bring good luck and prosperity. However, whether or not this belief holds any truth is a matter of personal opinion. From a practical standpoint, Akshaya Tritiya can be a good time to purchase property due to the various
From April1 UAA Property tax system launch plan For Sec V
After New Town, Kolkata the Unit Area Assessment (UAA) system of property tax collection is all set to be introduced at the IT hub of Sector V this year. The Nabadiganta Industrial Township Authority (NDITA) is planning to introduce UAA in 2023-24 — from April 1. Officials said that the West Bengal Valuation Board, which had earlier come up with a draft scheme on the UAA system of tax collection for Sector V, has finalised the proposed structure, based on which NDITA will start
India’s housing market hit a 9year high in 2022
The year 2022 saw the demand for apartment in India increase by 34% reach a nine-year-high in a trend driven primarily by a post-pandemic need for security, increased savings and income disruption for middle- and higher-income groups, according to a new report. The report says house sales stood at 312,666 units in 2022, adding that the growth was particularly noticeable in the higher-income segments. For comparison, the sales in 2021 stood at 2,32,903 units, according to the report. Also shows
Kolkata Records Highest Residential Registrations Oct 2022
Stamp duty and Circle rate relaxation has boded well with Kolkata as the city recorded significant sales volume in October 2022. The Kolkata Metropolitan Area expects the ongoing homebuying momentum to continue. Read on to know more about the city’s realty performance in October 2022. Ongoing relaxations have led to an improvement in registrations across Kolkata. The city has witnessed highest property registrations this year in October 2022, and the second-highest since the relaxations
Diwali: Good time to Invest in Real Estate Sector
Diwali is an auspicious celebration that is rooted deeply in the rich cultural tradition of our country. The festival brings with it lots of hopes for new happiness and beginnings. Many people prefer buying property during this time of year since it symbolises wealth and progress. The festive season brings appraisals, bonuses, and other workplace benefits, leaving property buyers with extra money to spend on their dream homes. Here are some reasons why buying property during Diwali is
Why Buying a Property During Dhanteras?
Dhanteras is a Hindu festival celebrated for the Goddess of wealth, Laxmi and Dhanvantari. According to Hindu mythology, anything, including properties like cars, gold, lands and other properties, reaps rich benefits. The word Dhanteras is derived from the Hindi word where “Dhan”, which stands for Wealth, and “Teras” refers to the 13th day of Krishna Paksha, of the lunar month Kartik. What Happens on Dhanteras? On this day of Dhanteras, individuals thoroughly clean
Reasons to Buy a Property During Navratri 2022
Navratri is celebrated with nine days of divine power devoted to the manifestations of the idol Durga. There has never been a better time to buy a apartment. Real estate purchases during Navratri are considered highly auspicious and give more value for your money. What is Navratri? Navratri is a Sanskrit word meaning ‘nine nights’.It is a Hindu festival dedicated to Goddess Maa Durga and her nine incarnations. According to the auspicious calendar, these nine days are the best time
7-point homebuyer’s checklist for 2022
After several years of tardy growth, a surge in demand for residential property has led to a smart uptick in real estate prices across the country. Delhi NCR saw the biggest jump in prices, with prices in Noida Extension and Greater Noida shooting up smartly (see chart). Despite the sharp rise, prices are still within reach in these micro markets. A 2-BHK house measuring 800 sq ft would cost roughly Rs.34-38 lakh, which makes the property affordable for the middleincome group. In Ahmedabad,
India house price index goes up by 3.5% in Q1 of 2022-23
During the first quarter of 2022-23, the pricing index for homes in India went up by 3.5 per cent year-on-year, data released by the RBI showed. It is based on transaction-level data obtained from the housing registration authorities in 10 major cities in the country. The cities are: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. Large-scale variance was observed in the year-on-year movement of the index across the country's cities and regions, RBI
Real Estate Regulatory Authority Increasing transparency in real estate sector
India’s real estate sector has come a long way in the past few decades. From a largely unorganized and unregulated sector, it has become one of the largest and most resilient real estate industries in the world. Today it is one of the most significant contributors to the country’s GDP. It also employs one of the highest numbers of unskilled and semi-skilled labourers. However, the real estate sector in the country has had a fair share of ups and downs during this period. There were
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