Category: World Real Estate News

Panels will be established to stop unauthorized building: Tamil Nadu to the High Court.

February 19, 2024

MADURAI: High-level committees would be established in corporations and municipalities throughout the state to monitor and prevent unauthorized projects, the state notified the Madras High Court on Thursday. The state contended that the government had called a meeting by a previous directive that suggested the creation of committees to oversee and stop unauthorized building in […]

Panels will be established to stop unauthorized building: Tamil Nadu to the High Court.more

Sowing Seeds of Wealth: Why Young Investors Should Consider Farmland in Their Investment Portfolio

February 16, 2024

In the dynamic landscape of financial prosperity, the wisdom of esteemed American author Robert Kiyosaki resonates – real estate, even on a modest scale, stands as a timeless avenue for fostering cash flow and accumulating wealth. As young investors navigate the ever-evolving world of financial opportunities, a frequently overlooked yet promising asset class emerges: farmland. […]

Sowing Seeds of Wealth: Why Young Investors Should Consider Farmland in Their Investment Portfoliomore

To assist homebuyers, UP-RERA begins pre-hearing review of complaints.

February 13, 2024

To expedite the resolution of cases, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) began a pre-hearing review of complaints on Monday. Homebuyers and promoters can file complaints through the e-courts facility provided by UP RERA. On December 2, 2023, it released updated standard operating procedures (SOP) for the submission, review, and hearing of […]

To assist homebuyers, UP-RERA begins pre-hearing review of complaints.more

Property tax collection delays since Mumbai’s 2023–24 invoices are still pending.

February 7, 2024

MUMBAI: Property tax collections for 2023–2024 were downsized by BMC from Rs 6,000 crore to Rs 4,500 crore. Its total collection up to January 3 was just Rs 606 crore. Property tax bills for apartments up to 500 square feet must still be issued by BMC. During his budget speech on Friday, BMC commissioner Iqbal […]

Property tax collection delays since Mumbai’s 2023–24 invoices are still pending.more

Notices are sent to 41 unregistered plot projects by MahaRERA.

February 3, 2024

PUNE: The Real Estate Regulatory Authority of Maharashtra has released 41 unregistered plotted development projects in the state that were publicized without the required MahaRERA registration received notices. While conducting property inspections in response to purchasers’ complaints about project delays in rural areas, MahaRERA authorities discovered that developers of numerous planned areas had sold units […]

Notices are sent to 41 unregistered plot projects by MahaRERA.more

Sources: Aadhar Housing Finance aims for an India IPO of $600 million.

February 1, 2024

MUMBAI: Aadhar Housing Finance, an Indian home loan firm owned by Blackstone, is aiming for a $600 initial public offering (IPO) valued between $500 million and $3 billion, according to two individuals with firsthand knowledge on Tuesday. Aadhar was purchased by private equity firm Blackstone in 2019 for roughly $300 million as a result of […]

Sources: Aadhar Housing Finance aims for an India IPO of $600 million.more

If a development impacts public safety, it cannot be allowed to relax development rules: Mumbai HC

January 31, 2024

MUMBAI: When the Bombay High Court ordered the removal of seven mechanized cantilever car parking spots (also known as stack parking) built in a residential structure here, it stated that relaxation of development laws cannot be allowed if it negatively impacts public safety. The housing society in Borivali’s stacked parking system seriously jeopardized everyone’s safety, […]

If a development impacts public safety, it cannot be allowed to relax development rules: Mumbai HCmore

Modifies Town and Country Planning Act for land conversions in Goa to skirt the legislation

January 26, 2024

PANAJI: The Goa cabinet controversially amended the Town and Country Planning Act, 1974 by substituting Section 39A for ease of land conversions in favor of Section 16B. In the assembly session that is set to start on February 2, the state administration will now change the TCP Act to remove Section 16B, which has been […]

Modifies Town and Country Planning Act for land conversions in Goa to skirt the legislationmore

Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

GST must be paid by the lessor on rent if the property is utilized for business.

January 19, 2024

MUMBAI: The Authority for Advance Rulings’ Rajasthan bench has ruled that if a lessee (who is registered for GST purposes) uses a residential property for business activities, then GST (Goods and Services Tax) is imposed on the rent. In the instance of Deepak Jain, the petitioner, who rented out his property to a private limited […]

GST must be paid by the lessor on rent if the property is utilized for business.more

The RBI suggests strengthening the requirements for HFCs to take public deposits.

January 16, 2024

MUMBAI: On Monday, the Reserve Bank suggested tightening regulations for housing financing organizations by raising the necessity of retaining liquid assets against liabilities and shortening the maturity period for public deposits to five years. According to the RBI’s draft circular, which is open for comments until February 29th, housing finance companies (HFCs) are now permitted […]

The RBI suggests strengthening the requirements for HFCs to take public deposits.more

Category: World Real Estate News

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