Consultation India - Pune, Mumbai Real Estate/ Properties Investment, Property Management Services

Here’s some good news for flat owners worried how much Value-added tax (VAT) will they have to pay. *The quantum of Maharashtra VAT on flats and real estate sold in the state between June 20, 2006 and March 31, 2010 may be much less than 5%, depending up on the method of calculation a developer chooses to adopt*. For example, for a flat with an agreement value of Rs 30 lakh, the VAT could be Rs 24,500 at the lowest and Rs 1,15,800 at the highest. Soon after the state government’s communication, there was a general impression that purchasers will have to shell out a high 5% of the value of their deals as VAT. While that is a possibility, the Maharashtra Department of Sales Tax has said that there are three options available with developers to calculate the MVAT. A senior functionary in the Sales Tax office told TOI that under rule 58 of the Act a developer can deduct the price of land as well as expenses on labour and further deduct the VAT he has paid on the materials before arriving

Reform in FDI: Ministry of Commerce and Industry certain significant relaxations in the FDI regulations applicable to the construction-development sector, which have just been released in a Press Note issued by the Government of India. The key changes are summarized below for your easy reference:- 1.     Conditions on minimum area and minimum capitalization within a period of 6 months have been removed; 2.     Each phase of the construction-development project would be considered as a separate project for FDI policy purposes; 3.     Foreign investor would be permitted to exit and repatriate foreign investment before completion of project under the automatic route, provided lock-in-period of three years is completed for each tranche of foreign investment; 4.     Transfer of stake from one non-resident to another non-resident, without repatriation of investment, will neither be subject to any lock-in period nor to any government approval. Nonetheless, exit is permitted at any time if pr

Dear Readers, Found this whats app message very interesting about our beloved city PUNE so sharing with you: 1. POONA/Pune has the impeccable record of highest growth within a span of 20 Years 2. Pune has highest number of pubs in Asia. 4. Pune has the highest number of software companies in India-212, followed by Bangalore - 208,Hyderabad - 97. Hence called the Silicon Valley of Maharashtra 5. Pune has 35 engineering colleges, 🚎which is highest in the world in a given city. Pune University has 57 Engineering colleges affiliated to it, which is highest in the world. 6. Pune has commercial and defense Airport operating from the same strip. 7. Pune has highest number of public sectors and government Organizations in India. 8. Pune university has highest number of students going abroad for higher studies taking the first place from IIT-Kanpur. 9. Pune has only 38% of local population (i.e.Marathi) .Hence a true cosmopolitan with around 20% North Indians,10% Tamilians,14%