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ready-to-move-in

How to save taxes on property purchases – RealtyMyths

by Pankaj Jain “With the enactment of Goods and Services Tax (GST), today’s taxation system in the context of purchasing a property has become much effortless than it was before July’2017. Several taxes previously applicable on property purchase like VAT, Service tax, just to name a few, now have all been comprehended under this single unified platform – Goods & Service Tax. Tax exemptions, if availed appropriately, can contribute a big way, in easing out the burden on a Homebuyer. Under Construction Properties GST Council has approved a transition plan for the implementation of the new tax structure for housing units. Under the new plan, builders whose residential projects are incomplete will have the option to choose between the old tax rates and new ones for under-construction...

Ready-to-move Vs. Under-construction – Caveat Emptor!

Anuj Puri, Chairman – ANAROCK Property Consultants 4.25 lakh housing units ready-to-move-in in top & cities Only 5% buyers will consider under-construction projects RERA was supposed to save the day for homebuyers, but that doesn’t seem to have happened – at least not yet. In many states, RERA, in its present form, is currently either non-existent or a pale shade of what it was intended to be. It is a fact that RERA has been diluted in some states to favour developers while in a few others it hasn’t even been deployed yet. RERA’s primary area of focus is under-construction properties. After all, this is the area where buyers had been facing the most challenges on account of project delays, project plan deviations, and various other issues. As things stand now, states like Maharas...

Don’t get carried away with the festive offers and freebies

It is festive offer time. Starting at the auspicious time of Ganesh Chaturthi to Navratri and Diwali time and up to New Year delights, there is much-a-do. Real estate players are leaving no opportunity to impress buyers with exciting offers. However, how much exciting it really is for the property buyers-is what we have been talking so far. Mythbuster Pooja, Yet, for those who are seeking some value-add to their home purchase plan, it is worthwhile to check on some exclusive offers. Real estate players are in a mood to please the buyers and one must bank on this opportunity by following a smart approach to buying a property. There is the usual but still impressive list of offers like a modular kitchen. We all need to make an investment in setting up a modular kitchen, which is more of a ne...

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