Tag: #Mumbai

The Urban Development Department announced cess relief for ongoing real estate projects in Mumbai.

August 23, 2019

By Abhay Shah, Realty Quarter The concessions in development cess and premiums announced by the state government can not be used on real estate projects which are ongoing in the city. On Wednesday, the Department of Urban Development published its notice of the relief under section 154 of the Maharashtra Regional Town Planning Act dated August 20. Coming into effect instantly, they will be in force for two years. “Imagine my shock when my architect called me this morning’s from the building proposal office to tell me the concessions are not applicable to ongoing projects,” a developer from south Mumbai said. He said that he had given Rs 1 crore of the Rs 4.5 crore that he owed to BMC and that because of of the credit crunch he could not manage to pay the remaining amount. “Rs 1.1 crore would have been saved from the concessions. Today my architect went to pay the balance, but the agent of the BMC denied,” he said. A […]

The Urban Development Department announced cess relief for ongoing real estate projects in Mumbai.more

ITAT declares tax exemption available for capital gains even if loan used for a new house.

August 22, 2019

By Abhay Shah, Realty Quarter Recently, the Mumbai Bench Income Tax Appellate Tribunal’s (ITAT) held that the investment-linked capital gains tax exemption available on the purchase of a new house cannot be refused simply because the taxpayer used a home loan instead of his old house’s sale proceeds. Under the Income Tax (I-T) Act, capital gains […]

ITAT declares tax exemption available for capital gains even if loan used for a new house.more

How to get a loan on a let-out property? Eligibility, Interest rate, Tenure Explained:

August 21, 2019

By Abhay Shah, Realty Quarter Nearly all the public sector and private banks provide loan for potential rentals. With this component, the owners of a house can take advantage of a credit line based on the rent received on the house property. Eligibility criteria for Individuals: Anyone who owns a commercial or residential estate may obtain the benefits of this scheme. The property may be owned jointly or by a single owner. All owners will have to become loan applicants in the event of joint ownership. This loan scheme option is available for properties that have already been rented out or for which a lease contract has been concluded. Loan amount utilisation: The fund raised through the loan against potential rents can be used for any intent […]

How to get a loan on a let-out property? Eligibility, Interest rate, Tenure Explained:more

Inventory of Rs 45,000 crore in Central Mumbai stayed unsold – ICRA Report.

August 20, 2019

By Abhay Shah, Realty Quarter According to ICRA, a rating agency, inventory worth Rs 45,000 crore stayed unsold in Central Mumbai as on June 2019. Considering the large value of inventory on the micro-market, its underperformance has seriously affected Mumbai’s real estate industry, it said. “Central Mumbai has been witnessing significant high-value inventory build-up due to weakened demand over the past two […]

Inventory of Rs 45,000 crore in Central Mumbai stayed unsold – ICRA Report.more

The government can consider RERA amendments to make them more effective: Urban Affairs Secretary.

By Abhay Shah, Realty Quarter The government may consider changes to the RERA real estate law, if required, to make it more effective, Durga Shanker Mishra, Housing and Urban Affairs Secretary, said on Monday. He said that the Ministry for Housing and Urban Affairs will quickly adopt the model tenancy law for Cabinet approval at NAREDCO’s real […]

The government can consider RERA amendments to make them more effective: Urban Affairs Secretary.more

Thane resident takes down a silent protest for the issue of Potholes.

August 19, 2019

By Abhay Shah, Realty Quarter Anand Nagar residents, fed up with the pothole outbreak on Ghodbunder Road in Thane, gathered for a silent protest on Sunday, requesting a solution to the problem that has created their lives hell over the past few months. Civic officials, meanwhile, retained that work is underway to fill potholes on roads […]

Thane resident takes down a silent protest for the issue of Potholes.more

Is it possible for parents to take back gifted property from their children?

August 17, 2019

By Abhay Shah, Realty Quarter The donor cannot revoke a gift of a property that is valid and accepted by a donee, other than in specific circumstances. We look at the feasible instances of a revocation. With many children choosing to leave India for work and the gradual disappearance of the common family system, it […]

Is it possible for parents to take back gifted property from their children?more

Government upcoming airport development plans in smaller cities, is it profitable to invest in such properties?

August 16, 2019

By Abhay Shah, Realty Quarter Nothing breaks the perspective of a new town as you move into it, whether you’re flying domestically or internationally. From the sky, Andheri streetlights are glowing like gold from Mumbai. Jackson Heights’ grid design just outside La Guardia in New York provides a feeling of its geography. And the region […]

Government upcoming airport development plans in smaller cities, is it profitable to invest in such properties?more

Types of taxes applicable on Commercial Properties.

August 15, 2019

By Abhay Shah, Realty Quarter Property is one of India’s oldest investment avenues that existed prior to the advent of various financial products such as direct equity and mutual funds. People who invest in commercial properties do so either for their own use or for the purpose of letting them out. Tax under commercial […]

Types of taxes applicable on Commercial Properties.more

A complete guide for investing in a plot to gain high returns.

By Abhay Shah, Realty Quarter With the increasing industrialization and urbanization in different areas of the nation, land accessibility is gradually declining. Investing in a plot over the next ten years is the best time to invest for a very high return on investment, according to experts. The landholdings in India are projected to exceed […]

A complete guide for investing in a plot to gain high returns.more

Tag: #Mumbai

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