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
PUNE: No new real estate project shall be registered by Maharashtra Real Estate Regulatory Authority (MahaRERA) until the beginning certificate has been approved by the regional planning authority. The deadline for local authorities—corporations, councils, Nagar panchayats, and metropolitan planning authorities—to connect their websites with MahaRERA or send independent emails regarding project registrations was June 19. […]
For projects to be registered, starting certifications must be verified: MahaRERAmore
PUNE: Since the city authority has sealed over 400 such structures since May of this year, residents who have not paid their property taxes for a number of years may lose their homes. “Notices were sent to the property’s owners and occupants, reminding them of the payment.” However, despite repeated summons, they have not paid […]
400 buildings in Pune have been sealed because of unpaid property taxes.more
MUMBAI: A MahaRERA order from 2021 that barred homebuyers from receiving interest retroactive to the date of their payments as well as a refund for other payments, such as stamp duties and registration fees, was modified by the Maharashtra Real Estate Tribunal (MREAT). The MREAT directed an Andheri-based developer to pay interest on the amount […]
The MahaRERA ruling is modified by MREAT, who also instructs the builder to pay interest going forward.more
LUCKNOW: Together with the power department, the Lucknow Municipal Corporation has developed a strategy plan to improve property tax collection. The effort put forth by the city’s mayor, Sushma Kharakwal, intends to uncover any discrepancies between household data and records of electricity connections in order to bring unregistered houses into the tax system. LMC mainly […]
To collect property taxes, the Lucknow civic government works with the electrical department.more
NOIDA: 38 builders were fined Rs 76.5 crore by the Uttar Pradesh Pollution Control Board (UPPCB) for unlawfully drawing groundwater from borewells. Within 15 days, the builders must deposit the money. According to officials, the board fined the Gaur City 2 project a maximum amount of Rs 6.6 crore and the Gaur City 1 project […]
For unlawfully collecting groundwater, the UPPCB penalised 38 builders in Noida with a total of Rs. 76.5 billion.more HYDERABAD: On Wednesday, income tax (I-T) inspectors searched the residences of prominent realtors in the Old City on suspicion of widespread tax cheating. Nearly 40 locations connected to the Kohinoor Group and Red Rose Group in Hyderabad, Gurugram, Noida, and Karnataka were searched. Mohammed Quadri Ahmed and Mohammed Amjad of KM Kohinoor Realtors Private Limited […]
Hyderabad’s Income Tax Department examines prominent builders’ houses in the Old City.more
MUMBAI: A civil court dismissed the claim of Shailesh Kamani, a resident of Ghatkopar, who sought a fee of Rs. 3 lacks from a property owner for whom he had allegedly brokered a deal in 2012. The court noted that the role of a broker is to persuade the vendor and purchaser to arrive at […]
Court: Broker may only be compensated for work completed.more
DELHI: As the regulator for mortgage lenders a framework for early warning signals (EWS) has been requested by NHB from home financing companies with asset sizes of over Rs 1,000 crore in order to stop financial fraud and keep accounts from becoming non-performing assets. In a recent circular, the National Housing Bank (NHB) stated that […]
Large housing finance companies are urged by NHB to create a framework for early warning signals.more
