With the onset of RERA rules and regulations, it has become very difficult for the small and medium scale developers who were present in the real estate sector, to raise funds and capital for their ongoing as well as new projects and almost 75% of the new projects have been shelved or dropped. There is severe fund/cash … Continue reading RERA COMPLIANCE – SMALL AND MEDIUM CLASS BUILDERS MAY DISAPPEAR
Transactions in immovable property are carried out by parties in properties containing the following elements: GENERAL REQUIREMENTS (All approvals, NOC, Licenses, Documents, Provisions, Rules, Regulations, Laws, Taxes, Charges, Fees, and Regulations are not applicable to all the properties. Specific Requirements or eligibility or statutory documents for specific properties.) Generic list OWNERSHIP Original owner. Intermediary owners. … Continue reading DOCUMENTS AND TAXES – GENERAL LIST FOR THE PURCHASE OF PROPERTIES
We had published an article a few weeks back stating that there will be a bargain in the purchase of properties from the beginning of 2018, to substantiate the write-up, we have some information that the Income Tax Department has sent circulars to LEVY or charge TAX on the unsold stock/inventory, which is treated as … Continue reading REAL ESTATE – UNSOLD APARTMENTS/STOCKS/INVENTORY – THE BUILDERS – MAY HAVE TO PAY TAXES
In an Interview with K.B. Koliwad, chairman of lake encroachment committee and Assembly Speaker, He Said: "Ignorance of the law is no excuse". But, It must be equally applicable to both the citizens and the Government. Finally, three years after its constitution, the legislative committee headed by Assembly Speaker K.B. Koliwad submitted a 247-page report … Continue reading Ignorance of law is no excuse: K.B. Koliwad – Speaker on the encroachments of lake bed and raja kaluve !!!
Every day the buyers are fleeced to buy properties and there are any numbers of websites or agencies or internet marketing sites, developers, builders, owners, and agents offering and arranging for 1). FREE SITE VISIT OR PROPERTY VISIT, 2). FREE PICK UP AND DROP, 3). LUNCH AND DINNER (In some cases), 4). MARKETING EXPERTS VISITING BUYERS AT … Continue reading PROPERTY SHOWS-MELAS-EXHIBITIONS-PROPERTY EXPO ?????
The Revenue from the registration of properties have gone up to Rs.8,735 crores in 2017, but the number of DOCUMENTS REGISTERED HAS NOT GONE UP or REMAIN THE SAME. It is the result of DEMONETISATION. Now, buyers are paying less (cash) and more through the legitimate way of making payment either through DD or Cheques … Continue reading PROPERTY REGISTRATION REVENUE ( STAMP DUTY ) IS UP BY 20% IN KARNATAKA-Effect of Demonetisation !!!
All the prelaunch bogus perks, offers, and discounts could not impress the buyers and they have become wiser and are now choosing the ready to move in projects. Return on Investment in apartments have trickled down to 1% to 8%. Melas, Exhibitions and Home Festivals are the order of the day to clear the unsold inventory. … Continue reading READY TO MOVE IN APARTMENTS ARE IN HIGH DEMAND
The report tabled by the committee may not be implemented due to so many hurdles. One suit has already been admitted by the Courts and the hearing may begin soon. Encroachers or the buyers of encroached property may not GET AWAY EASILY. They have life long battle with the law. The properties supposed to have … Continue reading LAKE AND RAJA KALUVE ENCROACHMENTS ? NO SOLUTION.
The Committee tabled the encroachment report in the Assembly yesterday with recommendations and suggestions. Few Developers name appears on the encroacher's list: One prominent developer, in Bangalore east, is said to have encroached 13 acres and 16 Guntas. It also said that all the sites have been sold out. A REPORT IN KANNADA NEWS TABLOID
It is widely speculated that in the near future ALL THE PROPERTY DEALS OR TRANSACTIONS along with bank details will be LINKED to ADHAAR. Mr.Hardeep Puri, Union Housing Minister, was speaking to one of the leading news portal and said such a move will go a long way in sucking black money from real estate and … Continue reading PROPERTY DEAL MAY BE LINKED TO ADHAAR IN THE NEAR FUTURE – A NEWS REPORT
RERA Consolidation and decline in interest rates to boost demand for property in India-2018 Evolving regulatory landscape, implementation of RERA, improvement in macroeconomic environment and a decline in interest rates may boost demand for property in India, says Fitch 2018 Outlook: Property/South and South East Asia. In India rapid depletion of unsold inventory may also … Continue reading Fitch projects India’s property sector’s outlook as stable- A News Report on India`s Real Estate Market-2018 Forecast!!!
The Real Estate Market might get stabilised by the beginning of 2018 after the lull due to demonetisation, GST and RERA. The new launches have come down drastically. The builders are offering 0% interest and host of other facilities and amenities to attract the Home buyers in Home Melas. There are huge unsold stocks (apartments … Continue reading BARGAIN TIME FOR HOME BUYERS
The State Government may approach the Supreme Court of India with an interim application to revoke the Stay on the AKRAMA - SAKRAMA Scheme, next week. If the court VACATES the Stay order, Then the Government may go forward in implementing the scheme. But, there are too many gaps and loopholes, which has to be … Continue reading AKRAMA-SAKRAMA – UPDATE
The Finance Minister Shri.Arun Jailey announced the New GST Tax Slabs. Over 178 products which were in 28% tax slab or bracket have been put down in the lower tax bracket. Most important for urban citizens are restaurants. The New Tax slab for all AC and Non-Ac restaurants are at a uniform rate of 5%. … Continue reading GST ON 178 PRODUCTS REDUCED. GST on Building material slab brought down. Restaurants have an uniform GST of 5%
BENAMIS AND THEIR AGENTS ARE ON THE PROWL TO DUMP THEIR ILLEGAL PROPERTIES IN THE MARKET. It is not in terms of crores, but in terms of thousands of lakhs. Small bits of properties in the form of layouts, sites, apartments, buildings, commercial complexes and farm houses are on the sale in various internet websites … Continue reading BENAMI PROPERTIES ON THE PROWL – WATCH OUT
714 Indians in Paradise Papers for skirting taxes A new set of data taken from offshore law firm, Appleby, could expose the hidden wealth of individuals, including Indians. Among the 180 countries represented in the data, India ranks 19th in terms of the number of names. An Indian firm figures as Appleby's second-largest client globally, … Continue reading MAJOR EXPOSE-PARADISE PAPERS -714 Indians in Paradise Papers for skirting taxes
The income tax department will start dispatching notices under the I-T Act to nearly 6,00,000 depositors who have deposited over Rs 50 lakh old notes into bank accounts but have not responded to the IT department notice nor have filed the Income Tax Returns and the Department is waiting in the wings for the last … Continue reading HUNT FOR BLACK MONEY – REPORT
Master Circular – Housing Finance A. Purpose To consolidate framework of rules/regulations and clarification on Housing Finance issued by Reserve Bank of India from time to time. B. Classification A statutory directive issued by the Reserve Bank in exercise of the powers conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949. … Continue reading Master Circular – Housing Finance – RBI
In Major metros, a huge number of properties, like sites, plots, apartments, coffee and tea estate, resorts, large commercial buildings, houses, agricultural land and industrial land are PUT FOR SALE ON VARIOUS Websites, through brokers and builders, which are supposed to be or benami properties. The sellers or developers or agents or the owners may … Continue reading BENAMI PROPERTIES ARE PUT ON SALE IN MAJOR CITIES ARE UNDER SCRUTINY
The Ministry of Corporate Affairs has said that its investigation has found thousands of dubious banking transactions in the aftermath of note ban on November 8, 2016. The Ministry of Corporate Affairs in a statement said that about Rs 17,000 crore was deposited in 58,000 accounts and withdrawn from the same and some of the … Continue reading Rs.17000 Crores Deposited in 58000 accounts and withdrawn post dmonetisation – investigation is on