By Abhay Shah, Realty Quarter The cost of the property while buying should be added to the charges, such as club Membership fees, car parking charges, electricity and water charges, maintenance fee, advance fee, etc., at the time of determining how much tax deduction should be made from the property at the moment of buying […]
The 2019 budget imposes TDS for parking charges, maintenance fees while purchasing a house.more
By Abhay Shah, Realty Quarter In any of the plans authorized by a local authority for construction permits, the Labor Commissioner proposed a compulsion to include a no objection certificate for the safety of workers. The building permission plan is granted by the local authority — municipal corporation, municipal council, Zilla Parishad, Collectorate, or metropolitan regional […]
NOC may be compulsory in Maharashtra for construction site workers in the building permission plan.more
By Abhay Shah, Realty Quarter The Council of Scientific and Industrial Research (CSIR) and Central Mechanical Engineering Research Institute (CMERI) of Durgapur, announced on 2 July 2019 the introduction of fresh technologies for the supply of quality drinking water, as there is water scarcity growing worldwide. CSIR-CMERI Director Harish Hitani said the development of new technologies is based […]
CSIR-CMERI has developed new technologies for quality drinking water.more
By Abhay Shah, Realty Quarter Under the new defunct Urban Land (Ceilings and Regulation) Act (ULCRA), builders will no longer have to surrender surplus land for public housing. On Tuesday, the Supreme Court approved the consent terms which was signed between the state government and the builder’s body, Maharashtra Chamber of Housing Industry. The agreement says that builders can now […]
Government of Maharashtra says that builders do not need to give excess land – SC Approves.more
By- Mr Neh Srivastava Under Secretary, Ministry of Home Affairs and President, CSSOS With elections done and dusted, the Central Board of Indirect Taxes and Customs (CBIC) is moving ahead with its plan to implement its 12 per cent GST order on balance amount due to the builders. As per the order, Home buyers who have been granted completion […]
New tax regime for buyers with completion certificate; flexibility to opt for lower GST sans ITCmore
By Abhay Shah, Realty Quarter On Monday, the state legislative council approved the law giving a tax exemption for residential properties whose carpet area is within 500 square feet. While the proposal was tabled, Devendra Fadnavis, said that the government chose to waive property tax in Mumbai only because the BMC is financially viable and can achieve the […]
Waiver of taxation for property in Mumbai approved for apartments of up to 500 sq ft.more
By Abhay Shah, Realty Quarter There have been 22 deaths and 78 injuries in the wall collapsing event in Malad, Mumbai, which was paralyzed by incessant rain for the third day in a row. BMC Commissioner, Ashwini Joshi said the Malad wall collapse will be investigated and any official found guilty will be punished. In […]
Heavy rainfall since 1st July has destructed many buildings in Mumbai.more
By Abhay Shah, Realty Quarter The Insurance Regulatory and Development Authority of India (IRDAI) have notified the Lok Sabha on Monday, that the public sector insurer LIC of India and a few of the private sector insurers have launched housing loans insurance. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman, replied in writing to […]
Finance Minister announces Housing Loan Insurance.more
By Abhay Shah, Realty Quarter Property transfer via a GIFT: When you want to pass a property so that the donee instantly enjoys the property, you can do this through a gift. Until you are qualified to contract, you can gift to anyone a self-acquired property in compliance with the Indian Contract Act. Anyone who is sound […]
Things to know before transferring a property by Gift Deed or a Will.more
By Abhay Shah, Realty Quarter There was no proposal from the government to increase the amount provided under the Pradhan Mantri Awas Yojana (PMAY), Narendra Singh Tomar (Minister for rural development, reported the Rajya Sabha on 28 June 2019. “We lately restructured this system, and we supply Rs.1.5 lakhs to build each house. No suggestion […]
Eligibility criteria to get PMAY interest subsidy on Home Loans.more