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News Updates

26 Sep22

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

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16 Sep22

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,

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07 Sep22

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

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23 Aug22

Homebuyers body requests CM Mamata Banerjee to implement RERA laws in West Bengal

Forum for People’s Collective Efforts (FPCE) has written a letter to West Bengal Chief Minister Mamata Banerjee, to take necessary steps to make real estate law RERA functional in the state within one month. FPCE, homebuyers that played an important role in enactment and implementation of RERA, expressed concern over real estate law RERA still being non-functional in West Bengal, leaving buyers at the mercy of builders. FPCE President Abhay Upadhyay, who is also a member of central

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16 Aug22

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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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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