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

Jul 01 2017 : The Times of India (Pune) RAKESH MALIK   The Goods and Services Tax (GST) roll out in July provides a unique opportunity for both buyers and developers With Goods and Services Tax (GST), one of the biggest tax reforms of independ ent India, all set to be a reality soon, the real estate sector is expected to get a boost. The good news for both the developers and home buyers is that they will all stand to gain from this historic financial move.Industry experts feel that the move will help the sector in a big way. Jaxay Shah, president, CREDAI, talking about GST and its possible impact on the real estate sector, stresses, “CREDAI welcomes the introduction of GST as a major reform since it integrates all central and state taxes into one comprehensive tax regime for the entire country. Trade and industry are major gainers of GST as it will eliminate multiple taxation at the level of states and the Centre, with the consequent cascading effects

Jun 26 2017 : The Times of India (Pune) Satyanarayan Iyer Pune   The Centre's proposal of a 12% GST on sale of houses from July 1 has left both real estate players and consumers calculating amounts they have to shell out or pass on. In Maharashtra, GST will be in addition to the 6% stamp duty rate charged by the state. This will mean higher outgo on a headline basis. Experts feel the difference in final pricing will not be over 1-3%. TOI explains various scenarios under the GST regime.Existing levy and GST In Maharashtra, customers now pay 4.5% as service tax and 1% as VAT. They also pay a 6% stamp duty on the cost of the unit. This brings the overall tax rate to 11.5%. Under the proposed GST, there will be a 12% flat tax rate on the cost of a unit, in addition to the stamp duty that remains at 6%. This brings the overall tax rate to 18%. Will overall unit cost rise? By the looks of it, the answer is “yes“. But theoretically , no. This is because

INTRODUCTION GST may bring a lot of relief to the real estate sector.  Supply chain mechanism in real estate sector to be revamped after implementation of GST. Real estate sector is one of the most pivotal sector of the Indian economy. Real estate sector plays a vital role in employment generation in India. It ranks second just behind agriculture.The importance of Real estate sector can be understood with its average 5-6% GDP contribution and stimulating demand for more than 250 ancillary industries. The real estate sector had a substantial growth of 22% in its private equity investments from 2015 to 2016. At the time of the third quarter of 2016, there was a 9% increase in investment for residential properties from the previous quarter. GST Regime For Real Estate Sector GST would bring a lot of transparency in the real estate sector and minimize unscrupulous transactions. Under the current tax laws, VAT and Service tax charged by different  Contractors and excise duty, ent

NewsVoir Mumbai, Apr 27, 2017 CBRE South Asia Pvt. Ltd. , India’s leading real estate consulting firm, today announced the findings of its Asia Pacific Real Estate Market Outlook 2017 - India. As per the report, India continues to hold its position as the world’s fastest growing G-20 economy, on the back of improved investor confidence and better policy reforms. The report is part of a global research series released by CBRE every year, highlighting trends and dynamics across various segments in the real estate sector for the year ahead. Commenting on the buoyancy of the sector , Anshuman Magazine, Chairman, India and South East Asia, CBRE  said, “ With 2016 being the year of landmark decisions for the Indian real estate industry, the sector saw concerted efforts by the Government to bring in transparency as well as boost consumer sentiment in the sector, especially in the residential market. The outlook for the year 2017 is positive with an expectancy of steady growth,

Pune Municipal Corporation Property (PMC) Tax: Property tax is the second largest source of revenue in Pune. Pune Municipal Corporation is solely responsible for levying and collecting property tax payment in Pune. PMC cover more than 6 lakh properties in its purview. Pune has online as well as offline property tax payment facility. The website can be viewed in the local language as well as in English. Since 1950, Pune Municipal Corporation has been administering the city and serving the citizens. PMC has taken the initiative for implementing e-Governance. Property tax is levied on a person’s personal property. The property tax are charged on residential house that is either self-occupied or let out, office building, factory building, godowns, flats and shops. Pimpri Chinchwad Municipal Corporation Property Tax Pune: Pimpri Chinchwad Municipal Corporation is a Municipal Corporation in the city of Pimpri-Chinchwad which is the Urban Agglomeration of Pune. It provides the follo

Mar 04 2017 : The Times of India (Pune)   A Shankar, national director and head of Operations Strategic Consulting, JLL India, dwells on re-imagining India's informal housing challenge via convergence of Housing for All and Smart Cities Mission The year 2016 turned out to be a year of transi tion, particularly for real estate a sector that has been directly or indirectly affected or altered by most policy reforms introduced by the state or central governments. Some of these policy changes might seem disadvantageous in the short run; however, they will render the entire system more mature, organized and transparent.The recently-announced Union Budget 2017-18 has yet again emphasised the importance of housing, and has accorded infrastructure status to this sector. It is important to attract the attention of all stakeholders to this sector, particularly those who influence supply developers and banks.Given the benefits offered in the budget, the cl

Mar 04 2017 : The Times of India (Pune) (Magicbricks Bureau)   There are some Pune localities that have registered a price growth and Kalyani Nagar is one of them In the real estate market of Pune, which has been largely stable since a few years, there are a few localities that have actually registered a price growth.Kalyani Nagar, located in East Pune, has witnessed a healthy appreciation of about Rs 400 per sq ft in the past year. This means that an apartment of 1,000 sq ft which was for approximately Rs 90,94,000 in February 2016, will be available for Rs 94,92,000 now. One main reason behind this price appreciation can be that lot of projects have come up for possession in 2017. Several new proj ects which were under construction since the last few years, are now ready, pushing the prices up. Gaurav Malhotra of Big Money Properties, a broker based in Kalyani Nagar says, “The locality has had quite a few residential projects reaching the completi

NIBM Road: Emerging location in Pune NIBM (National Institute of Banking Management) is become a centre point of lots of big real estate development from last few years with the support of well improved infrastructure, the place has transformed completely however still some people think differently about the location and does not even think about it as their perception about the location is not updated. here i would like to put more light upon why Area near NIBM is and will become one of the best prime location in near future.The major factor which fuels Real estate growth in particular area are: 1) Infrastructure  2) Road Connectivity  3) Schools & Institutes  4) Hospitals  5) Commercial Malls & Multiplexes  6) Upcoming Developments Residential & Commercial. I would like to summarize above factors in one paragraph as they intermingled each other or better to say that they compliment each other. the Infrastructure of Roads has been improved a lot on all sides o

Mar 04 2017 : The Times of India (Pune) Vinit Deo   Here's how demonetisation can have a long-term positive effect on the real estate sector One of the objectives behind demonetisation was flushing out and curbing the black money. In the entire two month period of demonetisation, media was abuzz with stories that the real estate industry will crash as the 'social media economists' had made up their mind that the entire industry seems to run on cash! Also, last three months have not shown any signs of prices reducing leave aside crashing.Following are the reasons as to why it will, in fact, have a long term positive effect on the real estate sector. 1 BLACK MONEY & REAL ESTATE: BUSTING THE MYTH In India virtually every industry has a component of cash transactions and real estate was no exception. It is obviously impossible to know the percentage of cash transactions in India as a whole, we can definitely do a quick comparative study

Feb 18 2017 : The Times of India (Pune) Amit Sethi   Year 2017 is set to be the one of hope and strength for Pune's real estate sector, aver experts The year bygone would certainly be remembered as a year of reforms and plat form creation for the growth of realty sector.RERA, Benami Act amendment, interest rate cuts and demonetisation were four major takeaways from 2016 that would keep the realty market busy again in 2017. Experts opine that 2017 is set to be the one of hope and strength for Pune's real estate sector.“The year 2016 saw major developments, be it in the area of an interest rate cut by the apex bank for softer home loans, newer policies and introduction of smaller unit sizes to push sales REITs et al in the Indian real estate sector. The passage of RERA was a major step towards bringing in added efficiency and transparency in this sector. From the Benami Act to demonetisation, all policies were aimed at increasing the transpar

Feb 18 2017 : The Times of India (Pune) Kanchan Gogate   With infrastructure status granted to affordable housing, realty industry has given a solid thumbs up to the recent Union Budget. Experts feel easing capital gains tax norms will give the sector much-needed and deserved fillip Post-the landmark demonetisation decision, the 2017 Union Budget was the most-awaited policy measure for the Indian economy. Like many sectors, realty sector, too, expected a budgetary boost and the Union Finance minister didn't let the industry down. The industry has termed this budget rather historical and has cheered two special mentions, industry status to lowcost housing and the easing of capital gains tax norms.It is pertinent to note that industry status had been one of the long-pending demands. The infrastructure status to affordable housing development has been complemented by raising the allocation to the rural housing programme by about 50 percent. Key

Feb 18 2017 : The Times of India (Pune)   Small amendments in the Income Tax Act spread across the Budget have ensured benefits to all stakeholders A close reading of the Union Budget 2017 tells us that, housing, especially affordable housing, was the only industry that found mention in the Union finance minister's speech. It was a pleasant surprise to find that small amendments in the Income Tax Act spread across the Budget have given benefits to all stakeholders; home buyers in urban and rural areas, investors, landowners, owners of redevelopment properties, banks, real estate funds and of course, developers.Many experts in the field believe that this is the beginning of more such incentives for this crucial sector, which is India's second highest employer and could stimulate over 140 industries once it starts growing. Following are the various benefits that the Union Budget is set to bring in trail. INDUSTRY: Infrastructure status to aff