Category: Residential Real Estate

What are the financial and income tax consequences that follow, if a property deal is called off or cancelled? We examine Property deals need not always culminate in the execution and registration of an agreement. Sometimes, the deal may not go through and may be abandoned halfway, after the payment of token money or even after some of the payments have been made. The deal may be cancelled by either the seller or the buyer, for any reason. Treatment of token money under the income tax laws, if a property deal…

The Delhi Development Authority has announced the draw result for the second phase of its housing scheme for 2019 on July 23, under which it offered over 10,294 low-income, middle-income and high-income group (LIG, MIG and LIG) flats in Delhi’s Vasant Kunj and Narela. The registration of these homes, which started on March 25, was ended on June 10.  How to check results of DDA Housing Scheme 2019 Applicants can view the live streaming available at the www.dda.org.in. The draw of lots will be based on the random number generation system. Interested applicants can also visit DDA…