The income tax department permits joint owners of single house property to file the income tax return by simply using Form-1 (Sahaj) or Form-4 (Sugam). On 3 January, the taxpayers who had owned a house in joint ownership were debarred, and those who had paid Rs 1 lakh of electricity billed in a year or […]
Joint property owners can file income tax return using this forms.more
Real Estate developer from Gujarat, 7 Oak has introduced “Bada Property Exchange Applications” in order to facilitate the process of finding and exchanging properties. The platform would allow customers in Indian towns and cities to identify individual properties to be exchanged at different places. “For instance, A Gujarat client may exchange his flat in Ahmedabad […]
Developer launches property exchange applications.more
To provide a booster to the property market, on January 8, India’s leading lender, State Bank of India, has unveiled a guarantee scheme for home buyer funding whereby, if the developer fails to deliver the house within a predetermined time, the lender will reimburse the entire amount of the principal. Until the occupation certificate is […]
State Bank of India initiates Home Buyer Finance Guarantee Scheme.more
Nanma Properties, part of the Eastern Group has established preparations for entrance into the affordable housing market. The decision of the Group reflects the declaration by the Central Government of the subsidies for the affordable housing sector. Navas Meeran, Chairman of the Eastern Group, said Nanma Properties Ltd will invest Rs 2,500 crore in an […]
Nanma Properties, part of the Eastern Group is going to enter into Affordable Housing Market.more
The real estate industry has urged the government to lower the interest rate on home loans to 7% and to raise the deduction of income tax on interest paid on housing loans to Rs 5 lakh to help revive demand after home sales rose by just 1% in 2019. The industry body National Real Estate […]
Authority demands reduction of interest rate on home loans.more
Homebuyers opposed the central government’s ordinance to amend the Insolvency & Bankruptcy Code (IBC) 2016 and demanded a stay of the operation of Section 3 of the Insolvency and Bankruptcy Code (Amendment) 2019, which aims to modify Section 7 of the IBC. “The writ petition is filed by 11 petitioners from 11 different projects, including […]
Homebuyers filed a writ petition in SC challenging IBC amendment.more
According to the London-based real estate consultancy Knight Frank annual report, Housing sales in Delhi-NCR saw 5% YOY growth and new residential launches increased by 45% in 2019 compared to 2018. The report stated that the period from 2016 to 2019 was the transitional period, when policy changes such as the Real Estate (Regulation and […]
Knight Frank Report: NCR witnessed a 45% rise in new residential launches in 2019.more
With finance minister Nirmala Sitharaman on February presenting the Union Budget 2020-21, real estate chambers pursued to dilute the definition of affordable housing in order to enable more properties to fall within its scope and take advantage of the opportunities. The concept of affordable housing currently means a house or flat in non-metropolitan cities and […]
Real Estate bodies seek to develop more properties under the affordable housing scheme.more
The deadline for filing property tax has been extended by one month to 31 January. “People who haven’t filed the property tax can deposit it and get a 10% tax rebate. Defaulters properties will be sealed and later auctioned when they fail to pay property taxes on time.” said, MCG Chief Vinay Pratap Singh. Property […]
Delhi/NCR extends property tax filing to 31st January.more
Supertech, a real estate company, said on January 5th, that they sought Rs 1,500 crore from the newly established government Stress Fund to complete their 12 ongoing housing projects in Noida and Greater Noida in Uttar Pradesh. The firm said the 12 projects consisting of 20,000 flats are in an advanced stage and that last […]
Realty firm Supertech applies for last-mile funding of Rs 1,500 cr.more