MUMBAI: The Mumbai branch of the Income Tax Appellate Tribunal (ITAT) ruled in favor of a non-resident taxpayer who had bought an apartment in a posh area of the city, saying that she could not be taxed on the difference of Rs. 55.9 lacks between the agreement value of the apartment and the stamp duty […]
Stamp duty difference and flat agreement price cannot be taxed: ITATmore
VIJAYAWADA: In a recent ruling, the high court reprimanded Canara Bank employees for forfeiting money without obeying the rules when it came to property sales consideration. The high court stated that banks and financial institutions should operate fairly and strictly in accordance with the law regulations when trying to recover their money, noting that they […]
Banks shouldn’t behave like real estate agents, claims HCmore
In order to help new financiers revive struggling housing developments that have left millions of homebuyers throughout the nation in the dark, several high-street banks will waive their first claims to assets and cash flow. Several of the bank CEOs and other industry leaders who spoke about the issue a week ago were willing to […]
Banks might relinquish the right to restart housing projects.more
Despite multiple difficulties, including numerous unhappy homebuyers, the insolvency and bankruptcy proceedings of real estate enterprises have seen consistent progress in terms of remedies. Experts predicted that the performance would increase if the government changed the code to allow for resolution based on the type of projects being undertaken rather than imposing a single, strict […]
62% of instances involving real estate insolvency have a successful conclusion.more
NOIDA: The marketing offices and remaining inventory of three projects with outstanding debts totaling Rs 1,000 crore were sealed on Thursday by the Noida Authority. The action was taken against two Gardenia Group projects in sectors 46 and 75 for failing to pay debts totaling Rs. 707 crores, as well as a Logix project in […]
Offices and unsold apartments in three buildings in Noida are sealed due to debts of nearly Rs 1,000 crore.more
MUMBAI: The Enforcement Directorate (ED) recently filed a chargesheet in the court against developer Shailesh Sawla and two of his firms, Kunal Construction and Sawla Construction, for selling homes to prominent persons in a slum-dwelling project. It’s one of the ED’s oldest pending laundering of money cases, dating back to the Prevention of Money Laundering […]
In one of the oldest PMLA cases, the ED files charges against a Mumbai-based builder.more
NEW DELHI: The Delhi High Court on Monday directed the Centre to file a response to a petition seeking the connection of residents’ immovable and movable property records with their Aadhaar numbers in order to combat corruption, black money production, and ‘benami’ transactions. A bench of Chief Justice Satish Chandra Sharma and Justice Yashwant Varma […]
The Delhi High Court has asked the Centre to respond to a request to link property to Aadhaar.more
PUNE: The deadline for making discounted property tax payments has been extended by the local government. If diligent property owners pay the tax before June 30 as opposed to the previous deadline of May 31, they will receive a discount. Tax debtors will also be given an additional month to pay their debts. The tax […]
Pune: The deadline to apply for property tax exemptions is June 30.more
PUNE: Members of the State Housing Federation have developed a mobile application with the assistance of the department of cooperation to instruct housing societies on how to execute a conveyance deed or considered conveyance. The conveyance deed, also known as a presumed conveyance, refers to the builder transferring land in the name of the housing […]
There is now a Maharashtra conveyance deed process app.more
NOIDA: According to officials, people may now verify information about any group housing project in Noida, including its completion certificate, occupancy certificate, number of apartments, and outstanding debts, online. The information can be found on the Noida Authority website at www.noidaauthorityonline.in under the section titled “Group Housing Builder Projects Information,” they claimed. The feature was […]
Online information about housing projects in Noida is now available.more
