In the 47th GST Council Meeting, the Finance Ministry’s revenue department has introduced 18 per cent GST on residential rentals across the country. The dynamics of renting residential property under GST has changed with an immediate effect from 18th July 2022. On the basis of notification, a residential dwelling rented to a person registered under […]
18% GST on residential rental to impact rental real estate.more
Developers in Maharashtra Now Must Install Fire Evacuation Lifts in High – Rise Buildings with 70-meters and Above in Heights. The new Evacuation Safety Circular is a step towards improving evacuation routes for residents anda Safer andFaster Mode for Fire Officers to reach High – Rise Floors during fire emergencies in Maharashtra Mumbai, July […]
Press Note: Maharashtra’s Energy Department Issues A Circular To Make Installation of the Fire Evacuation Lift Mandatory in High – Rise Buildings.more
Capital markets regulator Sebi announced on Friday that it has scheduled an auction on July 15 for as many as 39 properties owned by Royal Twinkle Star Club Pvt Ltd and Citrus Check Inns Ltd, with a reserve price of Rs 66.51 crore. The move is part of Sebi’s effort to recover funds raised by […]
SEBI to sell off Royal Twinkle and Citrus Check Inns properties.more
Following their conviction in a cheque-bouncing case in March 2021, the city crime branch arrested two directors of Mumbai-based Ahuja Constructions, 71-year-old builder Jagdish Bhagwandas Ahuja and his son Gautam Ahuja (42), on Friday. Because of the pandemic scenario at the time, no measures were taken to imprison them. They did not contest their conviction. […]
No judicial relief, Ahuja Constructions directors were detained in the cheque-bouncing case.more
The unified Municipal Corporation of Delhi has agreed to increase transfer duty by 1% on properties priced above Rs 25 lakh across the city, according to official sources. Buying property in Delhi is about to become more expensive. Officials claimed that after the increase, the transfer duty will be 4% for men and 3% for […]
Transfer duty on properties worth more than Rs 25 lakh in Delhi has been increased by 1%.more
NOIDA: Residents of Antriksh Golf View 2 are at a loss because the Noida Authority… has cancelled the occupation certificate (OC) of the Sector 78 housing society, which consists of approximately 1,055 flats spread across 12 towers. According to officials, the OC was revoked due to violations of various building codes, such as the construction […]
Antriksh Golf View 2 residents at wits’ end as Noida authority cancels OCmore
The Supreme Court recently ruled that daughters are entitled to inherit their father’s self-acquired property. The daughters of a Hindu male who dies without a will or intestate will inherit the father’s property, according to the Court. In such cases, daughters will be prioritised over other family members such as the father’s siblings’ sons and […]
Daughters to inherit father’s property in the absence of a will, rules SCmore
The West Bengal government has decided to levy stamp duty at reduced rates until the end of March, which will significantly boost the residential property market in Kolkata. The third extension follows an outbreak of Omicron across the country, which resulted in a state-by-state lockdown. The 2-percentage-point reduction in stamp duty and 10-percentage-point reduction in […]
West Bengal to levy reduced stamp duty till end of March 2022more
The National Consumer Disputes Redressal Commission ruled that builders cannot charge maintenance fees to buyers who are forced to take possession and begin living in their flats without an Occupancy Certificate (OC) due to delays on the part of builders in obtaining all necessary clearances from the authorities. As per apex consumer forum, homebuyers will […]
Builders cannot impose maintenance fees unless they have an OC: NCDRC.more
– Written by Alok Gupta Alok Gupta is the President of the prestigious The Estate Agents Association of India, Central Zone One. He can be reached at alok@himland.in. Views expressed are personal. I have been writing on this act, ever since the act’s draft was thrown open to the public for suggestions. On 2nd […]
Model Tenancy Act, 2021- The Law to be Enforced Needs Some Minor Revisions.more