A property buyer, who invests his hard-earned money in buying a home and does not get its possession on time, not only fails to get a roof over his/her head but also ends up … READ FULL STORY
As per the income tax laws, any profit on sale or transfer of your house or land becomes taxable, in the year in which you transfer the same. As per the Transfer of Property … READ FULL STORY
Under the present tax laws, a person is taxed on profit from the sale of any immovable asset held as a capital asset, under the head ‘capital gains’. For computing capital gains, the immovable … READ FULL STORY
Making mistakes while buying a home, could result in irreparable losses. Home buyers, who are lured by offers, discounts and freebies, tend to forget their actual requirement and hence, make mistakes. Mistake 1: … READ FULL STORY
A distressed property is one, where the home buyer is unable to repay the loan taken to acquire the asset. When an owner defaults on EMI payments for four to five consecutive cycles, the … READ FULL STORY
For housing loan approvals, banks carry out certain due diligence, before sanctioning the same. This process consists of two distinct parts. In the first part, the bank/ housing finance company, will conduct a scrutiny … READ FULL STORY
The most frequent disagreement in Indian real estate is land dispute. Cases range from of illicit land grabbing and illegal land sales, to instances of purchase of land where no actual purchase has taken … READ FULL STORY
The Indian rental market has been demanding a new law to counter the Rent Control Act, 1948, for a long time. Recently, the government has shown interest in passing the Draft Model Tenancy Act, … READ FULL STORY
Benefits to promoters/builders, for construction of affordable houses Under the newly-enacted Section 80IBA, 100% of the profits derived by the builder/promoter from a residential housing project, are allowed as deduction to every tax payer … READ FULL STORY
Property developers often use jargon that the buyers find hard to comprehend. In this feature, we will focus on the two most common terms used in the realty market: ‘Pre-launch’ and ‘Soft-launch’. Aman Nagar, … READ FULL STORY
In a recent judgment, the Delhi High Court has held that service tax cannot be levied on the purchase of under-construction flats. Presently, service tax of 15% is levied on 25% of the consideration … READ FULL STORY
Faced with budget constraints to pay additional PLC (preferential location charges), Gaurav Chaudhary, a home buyer from Noida Extension, asked the developer to show him an apartment that does not have a location-view advantage. … READ FULL STORY
In a consumer case filed with the district consumer forum of Noida, an aggrieved home buyer has demanded a refund of the amount collected towards additional loading over the carpet area paid to the … READ FULL STORY
