What is Guidance Value?
The minimum value at which a property can be registered is its guidance value. In other words, it is the Ready Reckoner value of the property. The Department of Stamps and Registration of every … READ FULL STORY
Legal
Tag: Ready Reckoner Rate
Property Trends
Stamp Duty: What are its Rates & Charges on Property?
The government levies a tax when there is a transaction of property (i.e., when a property changes hands, from the seller to the buyer). This tax is known as ‘stamp duty’. It is levied … READ FULL STORY
Budget 2020
Budget 2020: Income tax laws that will affect home buyers and builders
The Union Budget, presented on February 1, 2020, has attempted to give certain reliefs to developers and home buyers. It also attempts to introduce some provisions, to minimise unnecessary litigation between tax payers and … READ FULL STORY
Must Knows
How to arrive at the fair market value of a property, and its importance in income tax laws
The concept of fair market value is very important under the income tax laws. The buyer, as well as the seller of a property will be impacted, if the sale/purchase consideration as stated in … READ FULL STORY
Must Knows
Why is it advisable to take a legal opinion while buying a property…
Buying a property is not just about paying the money and taking possession of the unit. The process and the documentation involved in the transaction, is complicated and is often beyond the comprehension of … READ FULL STORY
Taxation
Stamp Duty: Bombay HC rules stamp duty cannot be charged for past transactions
Update on March 6, 2020: The Maharashtra government while presenting its Budget for FY 2020-21 on March 6, 2020, proposed to reduce stamp duty on property purchase by 1%. The reduced rates will be … READ FULL STORY
Legal
What are ready reckoner rates?
To avoid evasion of stamp duty through the undervaluation for agreements and to minimise the disputes on quantum of stamp duty, all state governments publish area-wise rates of properties, on a yearly basis, known … READ FULL STORY
Taxation
How is stamp duty in Maharashtra calculated post rebates and premiums on ready reckoner rates
Update on April 2, 2019: The Maharashtra government has decided to keep the Ready Reckoner (RR) rates across Maharashtra unchanged, going into 2019-20. Speaking about the move, Niranjan Hiranandani, national president, NAREDCO, said that … READ FULL STORY
Property Trends
Stamp duty in Mumbai hiked to 6%, properties to get costlier
Update on March 12, 2019: The government of Maharashtra, on March 1, 2019, announced an amnesty scheme with respect to the penalty that can be levied for insufficient payment of stamp duty made in the … READ FULL STORY
Current News
Maharashtra government proposes changes, to regularise illegal buildings
The Maharashtra government has proposed changes in calculating penalties, to regularise illegal residential buildings in the state, in a move that is likely to provide some relief to occupants of such structures. The modifications … READ FULL STORY
Current News
Maharashtra streamlines norms for transfer of flats built on government-given land
The Maharashtra government has issued a Government Resolution (GR), streamlining the rules for the sale or transfer by other means, of flats in cooperative housing societies built on government-allotted lands. As per the GR … READ FULL STORY
Locality Trends
Pune home buyers spared, as real estate Ready Reckoner rates to remain unchanged
Ready Reckoner (RR) rates indicate the value of land or residential and commercial properties of an area, determined by the state government and are published annually. RR rates vary as per the area under … READ FULL STORY
Interviews
For any economy to revive and grow, a revolution in infrastructure is required: Niranjan Hiranandani
While policy changes like demonetisation, the Real Estate (Regulation and Development) Act (RERA) and the Goods and Services Tax (GST) may have caused a temporary slowdown in the real estate market, the long-term impact … READ FULL STORY
