Pradhan Mantri Awas Yojana (PMAY) was launched by Hon. PM Narendra Modi with a vision of home for all the people in the country. The PMAY scheme offered various benefits to the home buyers making it possible to own a house of their own. PMAY scheme is one of its kind in the world which not only is for lower income group (LIG) but also for the middle income group (MIG).
Documents and Certifications Real Estate investment is generally associated with a huge capital investment and the homebuyer should be sure that the property is legal and safe. The most important documents in determining this are – the Commencement Certificate, Occupancy Certificate and the Completion Certificate. Commencement Certificate What is a CC (Commencement Certificate)? A commencement [...]
Real Estate investments are associated with large capitals which usually need home loan backing. In case you do not need a home loan still it is a better option to avail for one as it not only improves your liquidity but also helps you gain income tax benefits.
Tax related to Lands/ Plots Lands and plots purchase are associated with esteem and pride and usually is done by the wealthier segments of the society. Hence, the exemptions and tax benefits available in the case of apartments and houses do not apply to lands. But in cases where you build a house on the [...]
GST in Real Estate Goods and Services Tax (GST) in Indian Real Estate- What is GST (Goods and Services Tax)? Real Estate (Regulation and Development) Act (RERA) on July 1, 2017, brought major reforms tax reforms in Indian real estate sector when they introduced Goods and Services Tax (GST) in Indian Real Estate. Goods [...]
Capital Gains Tax Capital Gain is any profit or gain on sale of any capital asset. The profit is accounted as income of the individual or company and is taxable by law. Capital Gain Tax are divided as – Short Term Capital Gain (STCG)- Capital Gain on any asset held for less than [...]
Major taxes related to Real Estate in India are Stamp Duty, Registration and the newly implemented GST (Goods and Services Tax) which integrated all indirect taxes like Service tax, VAT etc. under itself.
Property Registration Process
Changes in Brokers due to RERA-
According to RERA brokers, agents, or property consultants are also accountable along with the developers. RERA makes sure that the agents are professional and away from any unfair activities that may affect the parties in any transaction. RERA has made the realtor community more vigilant and created positive growth in this sector making real estate transactions smoother and transparent.
Ready-to-move-in Property or an Under-construction property?