Category: Flat

Rental properties are presently subject to service tax, under certain conditions. We examine how the proposed Goods and Services Tax and the provisions for tax deduction at source, will impact one’s rental income 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 property is also required to deduct…

As the law allows a person to own multiple homes and avail of multiple home loans, we look at the implications on tax exemptions on the home loan for the second house There is no restriction on the number of properties you can own. Similarly, there is no restriction on the number of houses for which you can take home loans and claim tax benefits, either under the tax laws or banking laws. However, the amount of home loan available to you for all the properties taken together, shall depend on various factors…

A gift of a property that is valid and accepted by a donee, cannot be revoked by the donor, except under certain special circumstances. We look at the cases where revocation is possible With many children opting to migrate out of India for employment and the gradual disappearance of the joint family system, parents with limited means may find it difficult to make ends meet, in case their children do not support them. Often, many parents also transfer their properties to their children due to various reasons. After the property is…

Properties can be transferred to someone you love, without any consideration, by way of a gift or through a will. We examine the pros and cons of each method Transfer of property by way of gift If you wish to transfer property, so as to make the donee enjoy the property immediately, this can be done by way of a gift. You can gift a self-acquired property to anyone, as long as you are competent to contract, as per the provisions of the Indian Contract Act. Any person who is of…

If you want to know what is RERA, then this post is for you. This post summarizes basic information about RERA and how exactly it will going to help the Indian citizen. The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute redressal. The…

There is no denying the fact that home buying is emotionally gratifying.  In fact, we will not be exaggerating if we said that more than often, the purchase decision is emotional than rational. Many a time, we are so moved by the rush of these emotions that we enter the territory without doing any prior preparation.  Even if everything turns out alright in the end, the process is so harrowing for a naïve buyer that they are left feeling wearisome. This buyer also runs the risk of the investment turning bad…

The Delhi Development Authority (DDA) has announced that it will refund the registration amount of the unsuccessful applicants of its Housing Scheme 2019, in a week’s time. Apart from this, the successful applicants can also exercise the option of surrendering the allotment or getting a refund of the registration amount without any deduction, up to 15 days from the date of issue of demand-cum-allotment letter, issued on the DDA’s website. According to media reports, around 3,000 applicants have already surrendered 1BHK flats at Narela, due to a shortage of public transport…

Buying and owning real estate is an exciting investment strategy, that can be both satisfying and lucrative. Unlike stock and bond investors, prospective real estate owners can use leverage to buy a property by paying a portion of the total cost upfront, then paying off the balance, plus interest, over time. While a traditional mortgage generally requires a 20% to 25% down payment, in some cases, a 5% down payment is all it takes to purchase an entire property. This ability to control the asset the moment papers are signed emboldens both real estate…

The real estate business is growing as people want to buy classic as well as premium residential units for their family. Therefore, it is always advisable to choose the real estate companies according to the quality residential developments and customer satisfaction. So, here we are with top builders and developers in Noida. ATS Greens With lush greenery, architectural marvels and numerous resident centric facilities, ATS Greens offers home buyers a perfect getaway from the city mayhem, while they are right in the heart of the city. The company has successfully developed 20…

Delhi NCR is one of the fastest-growing regions in India due to a number of supportive factors including a large number of high paying white-collar jobs and world-class physical infrastructure. The real estate prices in Delhi have grown to astronomical heights leading to the growth of adjacent cities as large companies shift to other cities namely Gurgaon and Noida in search of better infrastructure and lower real estate prices. The Government is also enabling the same by improving the connectivity of these cities with Delhi through wide roads/highways and Delhi Metro. Gurgaon was…