By Abhay Shah, Realty Quarter In June 2019, the RBI lowered its main policy rate, and in the calendar year 2019, it did it for the third time in a row. The repo rate was reduced by approximately 0.75% by 30 June 2019. While the repo rate by the RBI has declined by 0.75% […]
The effects of the new RBI repo rate on Banks and NBFCs.more
By Abhay Shah, Realty Quarter In the first half of 2019, property developers in India raised more money from primary markets than they rose in a decade. As from June, Prime Database reported that developers raised approximately Rs 10,023 crore from the primary markets via two qualified institutional placements (QIPs) and a real estate investment trust (REIT) […]
Realty companies choose primary market as their main source for raising capital.more
By Abhay Shah, Realty Quarter The National Consumer Disputes Redressal Commission (NCDRC) has said that developers should repay money for delayed projects with interests at the rate at which the nationalized bank such as SBI provides home loans during the era concerned, in order to guarantee that homebuyers retrieve their cash, including interest on house loans. The […]
Developers are responsible to refund amount with interest equivalent to Home loan interest rate – NCDRC.more
By Abhay Shah, Realty Quarter The law on document registration is provided in the Indian Registration Act. This Act offers for the registering of multiple papers, to guarantee retention of proof, fraud avoidance and title assurance. Law of Registration Act: According to Section 17 of the Registration Act 1908, all operations involving the sale of […]
Property registration law under the Indian Registration Act.more
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