realestate2022

How will Mumbai Metro impact the Real Estate Market in the City? With Mumbai struggling with transportation infrastructure for long, we look at how the multiple metro rail lines planned for the city, will help the commuters and the impact it will have on the real estate sector Transportation infrastructure in cities across the globe, has a proven positive impact on real estate and also along the peripheral micro-markets of the cities. There is optimism, hence, that the development of the metro rail in Mumbai, will bring about a transformation and boost the realty sector. “Hopefully, the Mumbai Metro’s upcoming corridors, will be operational in 5-10 years. Any planned infrastructure results in massive real estate growth, in and around the corridors and a similar impact could be seen when the VAG ( Versova -Andheri-Ghatkopar) Metro line became operational, transporting a large number of commuters daily between the western and eastern parts of the city. Similarly, residential and commerc...

What is Stamp Duty? What are the Rates & Charges of Stamp Duty on Property? Buying a house is one of the most important decisions that one makes in their life. Investing in real estate or buying a new home takes your hard-earned money and best of knowledge to get the perfect home. And it is really important to ensure that all the paperwork is completed. One of the most important documentation is property registration and stamp duty. Property registration completes your ownership of the property and stamp duty is a major part of registration.  Registering the property with your own name helps you gain the legal right to the property and will also help you avoid any dispute in future related to the property you have bought. And in this article, we will be telling you each and every detail related to stamp duty and how it is calculated. Here, have a look! What is Stamp Duty? Stamp duty is a government tax that is imposed on property transactions. It is payable under the Section 3 ...

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...

RBI Survey: Nearly 80% People Say Housing Prices Will Go Up (Shutterstock) The Reserve Bank of India (RBI) recently released its survey on the  Inflation Expectations Survey of Households  that studied people’s opinion on inflation between March 2017 to March 2018.   Here is a look at the numbers:- Prices in general On the whole, Indian households expected a price rise. While 90.8 per cent of those participating in the survey said prices would rise, 56.7 per cent said they would increase more than the current rate (March 2017) while 28 per cent participants said that price increase would be similar to the rate that existed in March 2017. Only 6.2 per cent of participants said that price increase would be less than what was at the existing rate. An optimistic 7.1 per cent said there would be no change in prices while 2.2 per cent of those who participated said prices may decline. Housing prices As against 56.7 per cent of participants who said they expected prices to ...

Why Top Execs Are Choosing To Live Close To Workplace Shutterstock Gone are the days when the localities were distinctly segregated- some were purely commercial while others were residential. Today, most upcoming localities are emerging as commercial-cum-residential with an intent to serve those who can afford to stay as close to their workplace as possible.  Residential properties are now coming in close proximity to the commercial hubs as more and more top executives are now showing interest and opting for housing options close to the work. Where are they buying?   Of the nine key cities that PropTiger.com studies, most of them now have commercial-cum-residential pockets that have emerged in the past five years or so.   For instance, in Mumbai, Bandra-Kurla Complex (BKC) is the new south Mumbai. Located in the city centre, BKC has witnessed an uptick in the commercial market over the years, giving a cue to many residential project developers to ...