realestate2022

One Year of GST - Good, Bad Or Ugly for Real Estate? The Goods and Services Tax (GST), a revolutionary tax reform rolled out in July 2017, has effectively replaced the previous Gordian Knot of multiple taxes like VAT, central excise duty, commercial tax, service tax, octroi, etc. It has made India a ‘tax-neutral’ nation – and while it evoked a response best described as ‘mixed’ from real estate buyers, most of them are in favour of it. This is natural, as the unitary tax compliance system has simplified the homebuying process – and with the passage of Input Tax Credit (ITC), there may not be a significant additional burden to buying a home. Homebuyers in the affordable housing segment – specifically homes of up to 60 sq.m carpet area in size – have benefited significantly from the reduction of GST by 4% (from 12% to 8%). However, even almost a year after GST implementation, the only real clarity that exists for property buyers is on the prevailing GST rate of 12% on under...

12 Tips To Protect Your Home in Monsoon Monsoon is a season to relish hot snacks with hot tea or coffee in a house which has been taken care off for the season. The monsoon can bring with it spillages, fungus and different issues, all of which can harm your home, furniture and other significant assets. Homes turn out to be more helpless during monsoon season and it is very vital for you to shield your homes from the desolates caused by rains. Here are few handy tips and hacks that will help you get your home monsoon-ready:- The walls and roofs with cracks and holes are the places for the growth of Moss and fungus in the humid monsoon season. These are very harmful for the people living in the houses thus before monsoon starts one should check, locate and repair the cracks. To avoid seepage of rain water in to the house, one should paint the exterior of the house with waterproofing coat of paint. The rain water harvesting pipes needs to be checked and ensured that they are not having wa...

Maharashtra Govt To Provide Rs 2,500 Cr Fund For Versova-Bandra Sea Link (Shutterstock) In a bid to fast track the long awaited infrastructure project Versova-Bandra Sea Link (VBSL), Maharashtra government has decided to provide viability gap funding of Rs 2,500 crore, that is collected as a premium for extra Floor Space Index, sold to real estate developers. Usually, the viability gap finance is provided to support infrastructure projects that are economically justified, but not financially viable. Being built at an expense of Rs 9,500crore, VBSL would be a toll-route which will be applicable till 2052. The Maharashtra State Road Development Corporation (MSRDC) will appoint two separate contractors for toll collection and repairs and maintenance of VBSL, as per the government resolution. It was in December last year when the Maharashtra government has given administration approval to the proposed link road. The sea link would be 9.2-km long and would serve as an extension to...