Tamil Nadu's Minister for Commercial Taxation reviews strategies to boost property registration revenue post-COVID-19, with measures to streamline processes and enhance efficiency.
Noida may see a rise in circle rates for the first time since 2017. Noida, Greater Noida and Yamuna Expressway authorities have increased property rates.
Goa government hikes property registration fee from 0.5% to 1%, pushing buyers to pay around Rs 74,000 more for registrations. Credai opposes, stating it will affect market demand.
MahaRERA mandates disclosure of apartment sales and reservations to curb fraudulent practices by developers and protect buyers.
CREDAI-MCHI urges Maharashtra government to reduce stamp duty to 2% in Mumbai to revitalize housing demand amidst the COVID-19 pandemic, citing reduced sales and state revenue.
India's second COVID-19 wave threatens real estate recovery, impacting office and housing markets. Experts predict varying effects on sales and demand.
Maharashtra reverts to 5% stamp duty on property registrations from April 1, with 1% concession for properties in women's names.
Goa CM Pramod Savant announced a 30% infrastructure tax reduction for six months starting April 1, 2021, to revitalize the real estate sector and simplify double taxation issues.
Multiple banks, including SBI and HDFC, have decreased home loan interest rates, aiming to boost housing sales before the financial year ends. Experts anticipate increased demand.
Urban development has approved a 1% increase in stamp duty for the Metro rail corridor, raising it to 7.5%, while discussions on boosting FSI continue.
The Department of Registration and Stamps in India is working towards establishing an online system for property valuation and stamp duty assessment, aiming to increase transparency and reduce corruption.
Revamping stamp duty & registration fee collection could double revenue to Rs 1.5 lakh crore, with Maharashtra's model touted for nationwide adoption.
New norms are drafted by the stamp duty and registration department to reduce the increasing property transaction frauds. Individuals authentication and birthmarks declaration are added.
West Bengal's new property tax proposal faces criticism from CREDAI Bengal, citing increased transaction costs and negative impacts on the real estate sector due to inflated property valuations.
Experts warn that proposed VAT increase in Kerala's 2013 budget could lead to higher construction material costs, impacting overall property prices in the real estate sector.
Maharashtra government introduces e-payment of stamp duty for property transactions exceeding ₹5000, streamlining the process and enhancing security. The initiative begins in Mumbai and Pune.
Mumbai faces a real estate crisis with Rs275 billion invested since 2005 yielding few returns, leaving many flats vacant and buyers confused amid rising costs and regulatory changes.
Shares of Mumbai-based real estate firms fell sharply following reports of a proposed stamp duty hike by the Maharashtra government, prompting concerns over market demand.
Real estate developers anticipate Union Budget 2012 to bring pragmatic provisions, including increased infrastructure funds for housing and removal of service tax on residential construction.
Supreme Court mandates individual flat registration at current circle rates in Noida cooperative societies, impacting 15,000 owners and potentially generating INR 100 crore for the government.
Key documents for property sales in India include the sale deed, housing society share certificate, NOC, and title clearance. Buyers and sellers must also verify building age, area, parking, and ownership details.
Exploring real estate as a safe and high-yielding investment option, considering factors like property type, legalities, and taxation.
India's real estate sector is facing complexities and ambiguities related to indirect tax, including VAT and service tax on works contracts. The Supreme Court's ruling in the K Raheja Development Corporation case has further complicated taxation, potentially increasing the cost burden on new flat purchasers.
Flat owners in Maharashtra are urged to utilize the state's stamp duty amnesty, as emphasized by Mr. Ramesh Prabhu, highlighting long-overlooked regulations.
The Goa government has raised stamp duty on properties and infrastructure tax, impacting beach-side home buyers, as part of the 2008-09 budget.