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Coming up for Mumbai: 8 million jobs, 10 lakh affordable homes, open spaces

Publish on : 2017-08-28 05:05:54

Mumbaikars will get more open spaces, 10 lakh affordable homes, more commercial space with the allotment of 5 FSI to create 8 million jobs, a central park, 120 hectare of new green space and a world class museum. These are some of the key proposals of the Development Plan (DP) 2014-2034 cleared by B...

RBI urges states to facilitate affordable housing projects

Publish on : 2017-08-24 04:57:23

Mumbai: Reserve Bank of India Governor Urjit Patel on Wednesday urged states to facilitate affordable housing projects which have a strong multiplier effect on boosting growth. "I think, we need a time bound, single window clearance by state governments of this very important initiative, which ha...

The home buyers’ guide to choosing the right amenities

Publish on : 2017-08-23 05:07:08

Should you buy a house with a swimming pool, a gym, or a park? We tell you how to evaluate the necessary amenities, from the avoidable ones Amenities are an important part of any real estate project, which builders use to woo home buyers. While some amenities are essential, like a security system...

How will GST and TDS impact rental income

Publish on : 2017-08-18 13:08:54

The rental income from a real estate investment, is taxed under the head ‘Income from House property’ under the income tax laws, which is a direct tax law of the country. Properties that are let-out, are also subject to indirect taxation in the form of service tax, presently. The lessee of the prope...

MahaRERA registration for ongoing projects: Realtors face a minimum Rs 1 lakh penalty for delay

Publish on : 2017-08-18 04:57:58

Developers in Maharashtra who missed two previous deadlines for registering their ongoing projects will have to pay at least Rs 1 lakh as penalty for delaying applications. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to slap Rs 1 lakh or an amount equivalent to the regi...

Planning to buy a house? Learn how to crack the GST code

Publish on : 2017-08-15 08:40:17

Goods and Services Tax (GST) is being levied at 12% on the purchase of an apartment or a developed plot from July 1. Now, for homebuyers, what would be the most suitable option in terms of the stage of construction at which one buys, and why? Under the GST regime, no tax will be levied on purcha...

What is the GST impact on real estate?

Publish on : 2017-08-14 07:43:30

The Goods and Services Tax or GST was rolled out on July 1 this year by President Pranab Mukherjee and Prime Minister Narendra Modi. The new tax seeks to transform India with its “One Nation, One Market, One Tax” principle by subsuming a host of indirect taxes and implementing a simpler tax on goods...

Builders' body CREDAI to hold awareness sessions on RERA rules in Maharashtra

Publish on : 2017-08-08 14:04:56

PUNE: Even as the number of ongoing registrations touched beyond 11,000 with MahaRERA on Friday, Credai members on Saturday said that only 10 projects of their members were registered late. Maharashtra Credai president Shantilal Kataria said in a survey they found that only 10 developers had reg...

Know your rights as homebuyer in Mumbai

Publish on : 2017-07-18 07:57:11

The Real Estate (Regulation and Development) Act, 2016 (RERA) came into effect in 13 states and united territories, including Maharashtra, today. Here is how the law will help you: Registration: The law makes it mandatory for every builder to register his project with the housing regulatory bo...

100 Mumbai brokers register with RERA in just 9 days

Publish on : 2017-07-18 07:52:21

Around 100 real estate agents and brokers have registered under Real Estate (Regulation and Development) Act, (RERA) since it came into effect nine days ago. Sources added that another 1,000 brokers are in the queue to follow suit by paying a registration fee of Rs10,000. Real estate brokers in t...