What is MCGM property tax? MCGM property tax is the tax paid by an individual for the property he owns in the Mumbai Metropolitan Region (MMR). Property tax Mumbai is calculated by the state … READ FULL STORY
When one buys a property, the sale consideration is generally paid for, by way of money. However it is not necessary that the consideration for the transfer of a property, should always involve money. … READ FULL STORY
Updated on August 25, 2020: With an aim to improve home sales amid the Coronavirus pandemic, the Maharashtra government, on August 26, 2020, decided to reduce the existing 5% stamp duty on property registrations … READ FULL STORY
Capital gains under the income tax laws, are computed by deducting the cost of acquisition of the property from sale consideration of the same. Depending on the holding period of the property, one is … READ FULL STORY
When you enter into an agreement to buy a property, you have to pay stamp duty to the government. The amount of stamp duty is generally based on the value of the property mentioned in … READ FULL STORY
Stamp duty is a compulsory obligation payable on the document which encapsulates the transfer of immovable property, such as real estate. Home buyers are required to pay this when registering the agreement for sale. … READ FULL STORY
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
The union cabinet, on August 23, 2017, approved the transfer of 40 acres of land owned by the Airports Authority of India (AAI) to the Mumbai Metropolitan Region Development Authority (MMRDA). The transaction will … READ FULL STORY
Recently the Brihanmumbai Municipal Corporation (BMC) in its budget, had proposed a surcharge of one percent on the sale and purchase of properties, to fund its infrastructure projects. In yet another move, the Maharashtra … READ FULL STORY
Legislators from Mumbai’s suburban districts, on January 9, 2017, opposed any hike in the Ready Reckoner rates, during a meeting called by Collector DS Kushwa. Only three legislators – former minister Mohammed Arif Naseem … READ FULL STORY
The union government’s recent decision to demonetise Rs 500 and Rs 1,000 notes, has hit stamp duty collection in Maharashtra, which is already down by 37% across the state, the Inspector General of Registration … READ FULL STORY
According to a report by Liases Foras, the number of unsold apartments in Mumbai has reached a record of 84,915 units, up from 80,426 unsold units only three months back. In the Mumbai Metropolitan … READ FULL STORY