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.