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
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
NAMAKKAL: A man has been ordered by the Namakkal District Consumer Disputes Redressal Commission (NCDRC) to receive Rs 25,000 from ICICI Home Finance for the three years that the company neglected to execute his loan application. In January 2019, R Murugesan, 46, a resident of Kothur near VG Patty in the district and a worker […]
A Rs. 25,000 fine has been imposed on ICICI Home Finance for failing to execute a loan application for three years.more
PUNE: To recoup debt totaling Rs. 16 crore, the civic authority will auction off the properties of tax defaulters on February 5. Of the 200 properties the administration has designated for recovery, 32 will be auctioned on February 5. “All the property owners who are in arrears have received notifications from the administration. They were […]
On February 5, the Pune local council will auction off the properties of tax defaulters.more
Dubai, UAE, 09 January 2024: The International Property Show (IPS) 2024 is set to take center stage at the Dubai World Trade Centre from February 27th to 29th, offering a comprehensive exploration of the ever-evolving landscape of the real estate industry. One of the key features of the IPS 2024 is its insightful IPS Conference, […]
IPS 2024 Conference to Address Key Real Estate Industry Trends.more
CHENNAI: A March 2023 circular from the Tamil Nadu government raising the guideline value of properties in places like Chennai, Coimbatore, and Madurai by 33% was overturned by the Madras High Court on Thursday. Judge P. Velmurugan invalidated the circular on procedural grounds, stating that while the government was allowed to raise the guideline value, […]
Tamil Nadu’s increased property registration guidelines are overturned by the Madras High Court.more
BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has sent show cause letters to 285 builders for failing to publish the Quarterly Progress Report (QPR) of ongoing projects around the state on the authority’s website, meaning that time is running out for misbehaving promoters. As per the regulations, real estate project promoters are required to […]
285 promoters receive show-cause warnings from Odisha RERA for breaking regulations.more
COIMBATORE ERODE, CHENNAI: On Tuesday, income tax investigators conducted concurrent searches at various locations in Chennai, Coimbatore, Erode, and Namakkal that were connected to real estate firms, pumpset manufacturers, and construction companies operating in Coimbatore and Erode. Searches were conducted at 7 locations in Coimbatore and 10 locations in Chennai, including Aminjikarai, Anna Nagar, Egmore, […]
Tamil Nadu: The Income Tax Department raids seven locations owned by businesspeople and real estate companies.more Even before the regulator issues a warning, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has noticed a rise in the number of projects adhering to the necessary requirement of Quarterly Progress Reports (QPR). More than 222 projects, or 46.25% of the 480 projects registered in April 2023, have been prompted by the regulator’s rigorous action […]
The action taken by MahaRERA over non-compliance leads to a rise in quarterly project updates.more
INDORE: An under-construction building was demolished by Indore Municipal Corporation (IMC) on Friday due to the owners’ failure to get necessary clearances and violation of National Green Tribunal (NGT) regulations. The IMC team arrived at Triveni Nagar on Friday morning in response to a resident welfare association’s complaints regarding an unauthorized building being constructed on […]
Indore: Building under construction demolished for breaching NGT regulationsmore