Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019. "Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.
Buying a house is a big investment for most people and the financial burden can be huge. However, some states provide relief in the form of lower stamp duty rates for women buyers. These include Delhi, UP, Haryana, Madhya Pradesh and Punjab.
'Developers are into profit-making. And there's not too much money in the affordable segment.' 'So, they don't do affordable housing.'
Replying to a poser on black money transactions in the real estate sector, the Prime Minister said stamp duties in the country are a 'big obstacle' to cleaning the mess with regard to transactions in real estate.
Trading volumes in the currency segment today fell nearly 50 per cent and 40 per cent on the National Stock Exchange (NSE) and the MCX-SX, respectively. This followed a levy of stamp duty by the Delhi government on proprietary trades, say market players. Brokers say the consequence of this will also be felt in equity and commodity segments, as Delhi-based jobbers and arbitrageurs will be hit.
Reliance Haryana SEZ, a joint venture between Reliance Ventures Ltd -- an Reliance Industries subsidiary, and Haryana State Industrial and Infrastructure Development Corporation has so far bought 7,001 acres of land in Jhajjar district and about 1,200 acres and 1,383.68 acres of HSIIDC land in Gurgaon.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
If you are scouting for a property, finalise the deal within the next seven months and benefit from this measure, suggests Bindisha Sarang.
Banks typically fund about 70 per cent to 80 per cent of the cost of a property
Goodies and early bird discounts are not a new feature of India's real estate story, but the timing is significant. Real estate prices have climbed off their historic highs in the last six months on account of tighter liquidity and an overall decline in sentiment.
Bandhan Bank said on Monday that it has been empanelled by the Reserve Bank of India (RBI) to act as an agency bank to facilitate transactions related to government businesses. The RBI's decision will help Bandhan Bank in contributing to nation-building, its MD and CEO Chandra Sekhar Ghosh said. The announcement comes months after a RBI guideline that authorised scheduled private sector banks as agency banks of the regulator for the conduct of government business.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
Stamp duty, registration to be included in loan calculation
NBFCs are allowed to include registration, stamp duty
Two months after a junior doctor was brutally raped and killed, the doctors' protest in Kolkata rages on.
'Gautam Adani will not be able to step inside Dharavi.' 'We will ensure Adani will not get what he wants.' 'Adani has no reason to do politics with people of Dharavi but he is still doing it.'
The Uttar Pradesh government has deployed two senior IAS officers, who were part of the team that successfully conducted the 2019 Ardh Kumbh, to oversee the smooth conduct of the Maha Kumbh Mela in the wake of the recent stampede that left at least 30 pilgrims dead. The officers, Ashish Goyal and Bhanu Chandra Goswami, have extensive experience in administration in Prayagraj, including crowd management and inter-agency coordination. They will join Mela Adhikari Vijay Kiran Anand, forming a trio that was part of the mega fair six years ago. The government has also deployed additional senior police officers to strengthen security and crowd management ahead of Basant Panchami, one of the key bathing days of the festival, on February 3.
'If Pakistan's army wants to escalate violence in Kashmir, they have an unlimited supply of jihadis they can train and send. That's not an issue for them.'
The multi-crore Dharavi slum redevelopment project involves no land transfer to the Adani group but to the Maharashtra government's departments, and the Ahmedabad-based conglomerate, as a project developer, will build houses that will be handed over to the same departments for allotment to residents of Asia's biggest slums, sources said. Denying allegations of land grab made by MP Varsha Gaikwad, sources close to the project said land parcels are to be transferred only to Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the state government's housing department.
Lower interest rate, lower stamp duty and higher chances of loan application being accepted give women an edge over men when fulfilling purchase of their dream home
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
The year 2018 is likely to be steady in terms of institutional investment into real estate
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
Realtors' body CREDAI on Monday said the cost of construction has gone up by 20-25 per cent, mainly during the last 45 days, due to steep rise in prices of raw materials like steel, and builders will be forced to increase property prices from next month by an average 10-15 per cent. CREDAI-MCHI, the Maharashtra chapter of CREDAI, demanded that the central as well as state governments consider giving relief to the industry by reducing stamp duty and GST rates, besides allowing input tax credit (ITC) to developers. The association said it would not advise member developers to stop construction works as of now, but if the price rise continues then builders would have no option but to halt works at project sites and defer purchase of raw materials.
'The present generation, either due to historical amnesia or political propaganda, has been fed a narrative that paints India as an adversary rather than an ally.'
Jantri rates act as benchmark for deciding stamp duty rates for registering property deals.
Investors want lower securities tax, tax breaks on equity investments.
The state government move comes after cases of forgeries and fraud in property dealings increased. The circular has been issued by the Inspector General of Registration and Controller of Stamps.
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
'We don't believe in the BJP. But the Congress has no main leader who is credible.'
