Owners of residential properties in Gurugram, are liable to pay property tax to the Municipal Corporation of Gurugram (MCG) every year. The MCG follows a simple system for property tax calculation that mainly takes … READ FULL STORY
An occupancy certificate (OC), issued by the local authorities, certifies that a building is fit for occupation and has been constructed as per the approved plan and in compliance with local laws. What … READ FULL STORY
Owners of residential properties in Mumbai are liable to pay property tax to the Brihanmumbai Municipal Corporation (BMC) every year. On July 7, 2017, the BMC passed a proposal to exempt property tax on … READ FULL STORY
The floor area ratio (FAR) number denotes the maximum floor space that can be constructed on a given piece of land. In other words, it is a ratio between a building’s total constructed floor … READ FULL STORY
Leasehold refers to a property tenure, where one party buys the right to occupy the property for a given length of time (30 to 99 years). In a leasehold land, the authority (usually, a … READ FULL STORY
Capital gain refers to the profit that one earns through the sale of a capital asset, such as real estate, or even stocks or bonds. It is the difference between the selling price of … READ FULL STORY
The internet is the most preferred medium for home search in India With over 462 million internet users, India is the second-largest online market in the world. 20 million Indians search for homes online, … READ FULL STORY
A commencement certificate is a document from the local municipal authority that permits the developer to begin construction of the project. The commencement certificate (or CC) is usually granted, only after the developer has … READ FULL STORY
An ‘encumbrance’ refers to any liability that is created on a property. An encumbrance certificate (EC) for a specific requested period, is a note of all the registered transactions pertaining to the property for … READ FULL STORY
Owners of residential properties in Ahmedabad, are liable to pay property tax to the Amdavad Municipal Corporation (AMC) every year. The AMC has one of the more user-friendly and technologically advanced property tax payment … READ FULL STORY
Owners of residential properties in Kolkata, are liable to pay property tax to the Kolkata Municipal Corporation (KMC) every year. The municipality uses the funds collected as property tax, to provide important civic facilities … READ FULL STORY
Owners of residential properties in Hyderabad, are liable to pay property tax to the Greater Hyderabad Municipal Corporation (GHMC) every year. In December 2015, the government issued an order, offering an exemption in property … READ FULL STORY
Owners of residential properties in Chennai, are liable to pay property tax to the Greater Chennai Corporation (GCC) every year. The municipality uses the funds collected as property tax to provide important civic facilities … READ FULL STORY
