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

Buying property in Mumbai to be a costly affair soon State govt’s concession from stamp duty hike ends in March; duty to increase by 1 per cent Buying a home in Mumbai is likely to get costlier April onwards. The Maharashtra government is all set to hike stamp duty on house registration by 1 per cent from the next financial year. The government’s two year concession from stamp duty hike ends in March 2022 and the duty will rise by 1 per cent to an effective rate of 6 per cent of the agreement value from the current 5 per cent. Stamp duty on Gift Deed Additionally, stamp duty on gifting of house or property to a close relative will see a massive rise from just ₹200 to ₹1 lakh (considering the property cost of ₹1 crore). The ₹200 stamp duty was base price which will be hiked to 1 per cent of the property value. The Maharashtra government via a notification on February 8, 2019, had levied additional stamp duty in the form of surcharge, which was to be effective from the same year on instr

Property tax on residential units of up to 500 square feet, located within the Mumbai municipal area limits, will be waived off, the Maharashtra government  Mumbai: Property tax on residential units of up to 500 square feet, located within the Mumbai municipal area limits, will be waived off, the Maharashtra government Chief minister Uddhav Thackeray announced the decision after a meeting with the state urban development department held earlier in the day. The announcement comes ahead of Mumbai municipal corporation elections expected to be held next month. There are over 1.6 million residential properties which will stand to benefit from the decision. The Brihanmumbai Municipal Corporation (BMC) said that this will come into force in the financial year of 2022-23. The BMC collects between ₹4,000 crore to ₹5,000 crore in property tax every year and the outstanding amount is usually around ₹1,500 crore. With this waiver, the civic body is likely to face an annual revenue loss of up to ₹

Tata group firm Tata Realty and Infrastructure Limited announced an investment of ₹ 5,000 crore to develop a premium IT park project in Navi Mumbai Tata group firm Tata Realty and Infrastructure Limited announced an investment of ₹ 5,000 crore to develop a premium IT park project in Navi Mumbai as it expects demand for office and data centre spaces to rise in coming years. Tata Realty and Infrastructure Ltd Managing Director (MD) and Chief Executive Officer (CEO) Sanjay Dutt said that the company will develop 7 million square feet of area in this 'Grade-A' IT park project 'Intellion Park' in a phased manner over the next eight years, according to news agency PTI. He added that the company will develop this project in partnership with UK-based investment firm Actis. "We have 47.1 acre of land located in Ghansoli, Navi Mumbai. On this land parcel, we are doing 7 million square feet of development, predominantly IT space and data centres with some complementary retail

Dream11 cofounder Harsh Jain is among some of the richest young billionaires in the country. His app, a portal for online fantasy gaming has earned big with the success of the IPL and other cricketing tournaments. In fact, the app allows you to create and compete with teams across a variety of other sports too. The app’s origin was in Bangalore, and so is Jain’s palatial and current home. But, per ET, Jain and his wife Rachana have bought a new property in the financial capital of the country. Dream 11 co-founder Harsh Jain’s wife, Rachana Jain, buys a duplex in Mumbai worth Rs 72 crore According to LiveMint, the luxury duplex apartment in south Mumbai’s Peddar Road has cost them Rs 72 crore, or over Rs 1 lakh per sq. ft. The home spreads across the 29th and 30th floors and was purchased from Sameer Bhojwani-promoted Jeevesh Developers and Properties Pvt. Ltd. Mumbai has seen many noteworthy high-value transactions in this past year and this one is right among the top. Jain also paid a