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Bihar Govt. Gives A Go-Ahead To Draft RERA Rules ! The rules specify that the prices of the apartments will not be decided upon the super build-up area, rather will be based on the carpet area of the property.
Balcony, internal walls, kitchen and toilets all these usable spaces are considered as the carpet area. The chief minister gave affirmation to the draft at a review meeting of the urban development and housing department at the CM secretariat on this Wednesday April 5, 2017. Nitish also asked the housing department to form an urban engineering organization, on the lines of further public works organizations. According to the urban development and housing minister Maheshwar Hazari this new cell would have 577 engineers. “The cell will add to the efficiency of urban local bodies to execute civic works. . _ LNN(Liyans News Network)- To buy property in Kolkata visit our leading property portal, where you can list your property for free to attract more and more buyers. CREDAI Members Dispatch 375 Affordable Housing Projects. MUMBAI: Members of manufacturers’ body the Confederation of Real Estate Developers’ Association of India, or CREDAI, have reported propelling aggregate 375 reasonable lodging ventures the nation over with speculation duty of Rs 70,000 crore.
These activities will include improvement of more than 86 million sq ft to construct an aggregate of 2.37 lakh lodging units. CREDAI is in discourse with State Bank of India (SBI), its national saving money accomplice to make extraordinary monetary bundle both for home credits and for development fund, the real estate agents’ body said in a discharge. These tasks will be propelled under the domain of the different CREDAI state or city parts concurring the rules set around CREDAI National. GST Roll-Out To Respite Homebuyers?
Not completed apartments will come under GST wheel neither rental residential apartments will have to pay on this account.
But rental commercial apartments will have to count up the service tax of 15% (currently) and this very charge is going to be replaced by GST implementation. July 1st onwards, homebuyers will have to pay for Goods and Service Tax (GST) on EMIs paid for under construction residential units and on every affixed charge such as external and internal development charges, incidental location charges and club membership fees will be collected by the developers only. Experts suggest that this will boost the residential property sale in Kolkata as luxury inventories will be depleted faster than ever.
Residential units put on rent are free from this decree. Rather commercial units on rent will have to pay an additional service tax of 15%, which will be calculated as GST charge henceforth. . – By LNN (Liyans News Network) RERA rolls-out Developers Speeding Up Project Completion. According to the industry specialist RERA is not only the reason for this rush of project wrap-up.
It’s observed that developing a new project abiding by all RERA regulations is much difficult than to finish the ongoing projects, specifically the ones in an advanced stage of completion. If they cap their on hand projects before RERA regime rolls out effectively, then it’ll be easier to get an occupancy certificate and they don’t require to adhere to RERA formalities as well. Builders are advised to deliver all their projects timely with every promised amenity and all other needed touch-up final works. HUPA Notifies Remaining Sections of RERA. RERA implementation date May 01, 2017 is neighboring.
Yet the govt. has already notified the outstanding sections of the Real Estate Regulatory Act (RERA) as gazettes, much before than the due time. These notified measures incorporate retribution for non-registration of projects and resurgence of interest or fine or compensation and enforcement of order, etc. RERA will be rolling out since May 01. 2019 Is The upper Limit For 15 States & UTs To Deliver PMAY Affordable Housing. Government has engaged in delivering affordable housing in 15 states and Union territories to meet PMAY ‘Housing for All’ within 2019.
On Thursday April 18, Union Housing Minister Venkaiah Naidu declared this officially, on a press conference, was held in the capital taking up the progress of the ‘Housing for All’ move. The states and union territories going to fall under this focus are- Kerala, Himachal Pradesh, Jammu & Kashmir, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura, along with the UTs of Andaman & Nicobar Islands, Chandigarh, Dadra and Nagar Haveli, Daman & Diu and Puducherry. According to the reports all these afore mentioned states and UTS have been asked to sum up their survey related to the requirements for affordable housing and submit within this year end, so that the completion of the constructions could take place within coming couple of years.
Supreme Court: Claim Within 12 years, Else Lose Property To Squatter. Squatter can have the ownership rights over your property if the property won’t get pleaded before court within 12 years.
Panic of Project Price Hike In Maharashtra Doing Rounds Post RERA. GIS Mapping To Benefit The Digitization Of Chandigarh City. Chandigarh administration has discharged tenders for geographic information system (GIS) mapping of properties and other infrastructure to sign up an organization execute and supervise aerial and light detection and ranging (LIDAR) data survey.
For complete digitization of all records of property and other infrastructure this project was sanctioned by the central government earlier. Under this project the authority targets to achieve GIS mapping for all the buildings- residential, commercial, manufacturing, edifying, health services, central government, state government, railway property, spiritual, leisure and public utilities such as- water treatment plants, pumping stations, solid waste management plants and sewage treatment plants. All the rural areas, slums, vacant areas, agricultural land other eco-sensitive zones, transportation growth communication infrastructure- telephone exchange, cell towers and WiFi hotspots will also be connected through maps.
Commercial property for sale & rent in Kolkata. Residential Property sale like Apartments, Flats in kolkata. Alike The Residential, Building Plans of Commercial Property Too Can Be Passed Through Self-Certification in Chandigarh. Finally the administration of Chandigarh has launched self-certification process for passing building plans of any commercial property under the circumference of this UT.Already the self-certification building plans for residential properties have been introduced.
The UT administration has crop up with this strategy to prevent applicants from future vexation from the local estate officials and wastage of further time. It has been already drafted in Chandigarh Building Rules (Urban) 2017 and will be proclaimed after calling objects from people. SBI and Builders’ Association Sign Agreement For Low Budget Housing Loans. State-based branches of SBI and realtors body CREDAI have signed a treaty to grant loans at an ostensible rate to the builders as well as buyers for affordable housing projects.
SBI and CREDAI have signed a MoU to go partners and work jointly towards the growth of the real estate sector, specifically through the low-budget properties and green residential projects. SBI has signed this MoU with CREDAI for a period of three years which will allow homebuyers a concession rate of 10 basis points and 10-35 basis points to the CREDAI develop members.
Currently SBI holds 25% market share in home loan segment of the country. Earlier CREDAI had declared that its member developers are launching 373 affordable residential development comprising 2.33 lac units with revenue over 70000 crore. Being the largest bank and mortgage lender SBI will back CREDAI as their national banking partner and provide loans at competitive rate of interest towards development finance. RERA Won’t Standby Local Authorities For Project Approval Delays. The RERA rules for regulation and development, registration of real estate projects, realty agents, rates of interest and revelations on website were cleared on Saturday 22nd of April. Under section 7 of this regulation, additional room for project registration seeks for explanation on the reasons for delay. Here, the builder can affirm every reason, even the ones concerning sanction of various projects. This will bring in much-awaited transparency in real estate dealings.
As there was never any law supporting the project delay caused by the non-co-operation from the governing body’s side. New Town Property Tax Calculation To Go By KMC Route. To measure the yearly valuation of property in and property tax for flats in Rajarhat and other properties of New Town The urban development department has added up to a committee. New Town Kolkata, Development Authority West Bengal (NKDA) is projected to launch unit area system of tax arrangement for the township within coming few months. The six-member committee will be administrated by the member secretary of NKDA and will have NKDA CEO, executive officer, finance officer, a representative from West Bengal Valuation Board and an economist nominated by NKDA from an upright business organization.
Up to 90% of EPF Savings Withdrawal Is Allowed For Home Buying. Good news for the home-loan service providers! Subscribers of Employment Provident Fund Organization will now be able to withdraw up to 90% of their PF account for home to buy their desired home. Over four crore, subscribers of the retirement fund body can now pay EMIs of home-loans from their EPF funds, which means, people of 60+ can borrow home-loan from the HFC (Housing Finance Company). The EFPO has revised the norm by including a new stanza- 68 BD- to the Employees’ Provident Funds Scheme, 1952 empowering subscribers to make down payments through EPF accounts for their home purchase.
Earlier, the central labor ministry had issued a notification for the same rationale. Notices Issued contingent Upon Rs. 200-Crore Benami Property. LNN (Liyans News Network)– The most reliable property portal in Kolkata in property business. Government Sanctions 1 lakh Urban Homes Under PMAY. Central government has permitted the construction of 100,537 more affordable homes under ‘Pradhan Mantri Awas Yojana’ (Urban) with a total investment of Rs. 4,200 crore.
Out of which, Madhya Pradesh got 57,131 homes approved, followed by Tamil Nadu with 24,576, Manipur with 6,231, Chattisgarh with 4,898, Gujarat with 4,261, Assam with 2,389, Kerala with 643, Jharkhand with 331 and Daman & Diu with 77 homes, according to the latest statement of HUPA. Parliamentary Panel Resumes RERA Dilution By Different States. On Wednesday, April 26 The Committee on Subordinate Legislation (COSL) of Lok Sabha had a meeting with the officials from the Ministry of Housing and Urban Poverty Alleviation regarding the dilution of Real Estate (Regulation and Development) Act (RERA) rules by various states. Stamp Duty, Registration Charges Will Be Set Aside For Startups Buying Commercial Place in Maharashtra. Maharashtra state government has announced that there will be no stamp duty or registration fee for standard incubators or startups who want to purchase/rent commercial spaces within in the state.
The government will charge 50% on stamp duty and registration on their second investment. Hustle-Bustle in Builders’ Colony For Getting Occupancy Certificate Before May 1. Post your Property free for Sell. India Real Estate. General Website Links Andhra Pradesh. About-us. * indicate mandatory field. Post your Property free for Sell. Affordable flats in kolkata. Paramount Consultancy Brings These Unique Flats Near Upcoming Joka Metro Terminus With An Unbeatable Price Offer First Time In South Kolkata.
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