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ITAT has held that the benefit of a higher tolerance band of 10% for the difference between the sale price of a flat and the stamp duty valuation will apply with retrospective effect.
Publish on : 2021-01-18 17:27:13
ITAT has held that the benefit of a higher tolerance band of 10% for the difference between the sale price of a flat and the stamp duty valuation will apply with retrospective effect. MUMBAI: A recent ruling of the Income-Tax Appellate Tribunal’s (ITAT) Mumbai bench has come as a relief to taxpay...
Mumbai: BMC has Rs 20,000 crore property tax outstanding, auction is likely
Publish on : 2021-01-12 12:36:54
It missed its property tax collection target of Rs 5,300 crore this year, and so far collected only Rs 950 crore. It has time till March-end to recover Rs 4,300 crore. MUMBAI: BMC has a total outstanding property tax of nearly Rs 20,000 crore in the city. With the civic body facing a severe cash...
Pimpri Chinchwad civic body's draw for over 3,500 affordable housing flats
Publish on : 2021-01-12 12:34:32
“In Monday’s draw, a list of selected candidates and a waiting list will be prepared for this housing scheme. Out of the 3,664 flats, 1,442 are in Charholi, 934 in Ravet and 1,288 in Borhadewadi,” it stated. PIMPRI CHINCHWAD: The Pimpri Chinchwad Municipal Corporation (PCMC) will conduct an affor...
How much money you will save after 50% cut in premiums in Maharashtra
Publish on : 2021-01-12 12:32:14
The reduction is likely to result in around 7% reduction in all-in prices in Mumbai. The all-in prices in the rest of the state are likely to decline by about 2.8% and the overall impact on demand is likely to be correspondingly lower. NEW DELHI: After Maharashtra cabinet recently approved 50% re...
Mumbai: CIDCO freezes its plot reserve price, expects stability in house prices
Publish on : 2021-01-08 17:55:07
In order to boost the real estate sector and provide stability in the rising prices of houses in Navi Mumbai, the Board of Directors of City and Industrial Development Corporation (CIDCO) has taken the decision of freezing the reserve price of its plots in various nodes and surrounding areas. The de...
Mumbai sees record house registrations
Publish on : 2021-01-08 17:52:01
Last week’s 2,328 sale deed registrations generated Rs 59.88 crore revenue In just the last seven days of January 2021, about 2,328 houses --conveyance (sales) have been sold out in Mumbai alone, generating a revenue of Rs 59.88 crore through stamp duty to the government. Similarly, in the whole of...
Maharashtra cabinet approves 50% reduction in premium for real estate projects
Publish on : 2021-01-08 17:48:50
Maharashtra cabinet approves 50% reduction in premium for real estate projects under the new DCPR rule 2034 across the board for on-going and new projects upto December 31, 2021. NEW DELHI: Maharashtra cabinet on Wednesday approved 50% reduction in premium for real estate projects under the new D...
Over 500 SRA projects failed to take off in 15 years in Mumbai: Report
Publish on : 2021-01-05 12:52:02
According to SRA data, there are 2,131 ongoing projects in the city where slum schemes have submitted, of which 1,602 have already received the letter of intent (LOI). MUMBAI: Even as the state government is pushing for the redevelopment of slums, a recent SRA review report has revealed that as m...
Stamp duty waiver helped Maharashtra's revenue grow by Rs 367 crore
Publish on : 2021-01-05 12:46:14
"In four months, the registration of documents rose by 4.11 lakh, or 48.73 per cent, giving the state exchequer higher revenue of Rs 367.73 crore, a rise of 3.97 per cent," Revenue Minister Balasaheb Thorat said. The Maharashtra government's revenue from registration of documents rose by Rs 367 c...
Mumbai: Civic body to restore property tax on sub-500 sq ft housing units
Publish on : 2021-01-05 12:44:50
There are 1.85 lakh dwelling units in the city that are less than 500 sq feet in size. The BMC annually earns Rs 360 crore from these units as property tax, which constitutes eight components including general tax. MUMBAI: Dwelling units in Mumbai of less than 500 sq feet will soon attract higher...

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