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

GST rate on affordable housing projects too has been lowered from an effective 8% to 1% Now, any house built on an area of 60 square metres or less in metros will now be categorised as affordable housing New Delhi:  Union and state governments on Sunday decided to lower Goods and Services Tax (GST) on under construction housing properties to 5% from an effective 12% in a pro-consumer decision ahead of national polls due by April-May. GST rate on affordable housing projects too has been lowered from an effective 8% to 1%. Under-construction properties priced upto Rs. 45 lakh will qualify as affordable housing projects for the purpose of GST relief in both metro cities as well as non-metro cities, finance minister Arun Jaitley told reporters. "We wanted to give a boost to the real estate sector as well as give relief to the middle class, neo-middle class and the aspirational middle class class. This will come into effect 1 April 2019," said Jaitley. Although the ca

The latest IMF growth forecast declares India as the fastest growing major economy, ahead of China. India’s GDP is set to accelerate after the transitory shocks of demonetization and GST. As the service sector is one of the primary drivers of this growth, urban commercial centers will see the concentrated effects of this accelerated GDP. Commercial hubs like Bangalore, Hyderabad, Pune , Mumbai, and Delhi NCR are at the heart of the upcoming boom, catering to demand across a range of sectors. Office space vacancy is at an all-time low in many of these cities, between 3-7%, sparking a rush for space that is expected to cross 700 million sq ft of absorption in Grade-A office space by 2022. With its higher capital intensity, commercial property has emerged as one of the most lucrative investment destinations, offering opportunities to profit from sectors like co-working spaces, the fastest growing asset class within real estate.

Capital Gain Bonds: Long-term capital gain is the gain that is derived out of a sale of an asset that has been held for more than 2 years in case of immovable property and 3 years in case of debt funds or jewelry. You can invest the gain in certain specified bonds to claim tax exemption within 6 months of the date of sale of the asset. Save tax on long-term capital gains by investing in 54EC bonds such as REC Capital Gain Bonds, NHAI Capital Gain Bonds, IRFC Capital Gain Bonds & PFC Capital Gain Bonds respectively. Budget 2018 has proposed to amend the 54EC section of the Income Tax Act wherein capital gains arising only from the sale of assets such as land or building or both will be considered for tax exemption. It has also proposed to increase the lock-in period to 5 years from 3 years. This amendment will take effect from 1 st  April 2018. Key Features of Capital Gain Bonds specified under Section 54EC: 1. Non transferable and non negotiable bonds 2. No TDS but

Greetings...... Wish to share general important information regarding Annual Pune Municipal Tax on properties which comes under Pune Jurisdiction to be paid every year and the bill is generated on every March month and delivered in hard paper bill also to your property address letter box however this receiving bill is not reliable as sometimes not delivered or misplaced by the government postal department.  Fortunately, you can find the same bill by visiting pune municipal corporation website:  www.punecorporation.org   and  www.propertytax.punecorporation.org  (the site is self explanatory) you just need your Consumer/property Number to track it. which will be in a format of eg. O/1/20/0123456 (this is just an example so pls fill your property no. on it) Again this property bill comes once in a year and last date without fine/interest  is 31st may of every year. if you miss to pay for previous years property tax bill then new bill will be the cumulative of all dues.