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Stamp duty

86 acres bought by Polyhose near Chennai

86 acres bought by Polyhose near Chennai
The country’s largest manufacturer of hydraulic, industrial and automotive hoses, Polyhose India has gained 86 acre land parcel which earlier belonged to Presidency Kids Leather, nearby Chennai. Under the SARFAESI Act the land was acquired through an auction conducted by Syndicate Bank. The deal size is said to be close to Rs 100 crore, including [...] Continue Reading »

Illegal constructions are a scarcity in Shil an year after collapse of a building

Illegal constructions are a scarcity in Shil an year after collapse of a building
The Municipal Corporation and locals are showing zero-tolerance to unauthorized buildings and chawls post the collapse of an illegal building at Shil Road in Mumbra. The last year incident was shocking. High rise towers used to come up frequently and the needy would occupy them as they were sold at the rate of a tenement [...] Continue Reading »

The new middlemen in Real estate sector

The new middlemen in Real estate sector
Facing the problem of increase in unsold inventory and with working capital hard to come by, the real estate developers in last few years bend heavily on a class of investors to bring sales and bring in that much-needed cash flow. These types of the investors are referred as the ‘underwriters’ which buy the large [...] Continue Reading »

E-stamping: Registering large volumes of property in Gurgaon

E-stamping: Registering large volumes of property in Gurgaon
Gurgaon introduces registering property with e-stamping facility. E-stamping and on-line registering is already practised in Delhi. Land registration is described as matters concerning ownership, possession or other rights of land and kept as records. The state Government of Haryana has requested  to  make provision for regular issuance of stamp papers from treasury and bank. It [...] Continue Reading »

Stamp duty collection to rise with high value property deals

Stamp duty collection to rise with high value property deals
With the increasing property deals of high value in the state, it has been forecasted that the stamp duty collection is also going to boost up. As per Inspector General of Registration and Controller of Stamps, revenue generated from stamp duty will be around Rs 2000 crore in the financial year 2012-13. However, the property [...] Continue Reading »

Flats in Mumbai to witness hike in stamp duty

Flats in Mumbai to witness hike in stamp duty
A bad news is in store for tenants and owners of flats in Mumbai! Stamp duty is going to be dearer for flats in the city after the recent announcement of budget by state finance minister on 20th of March. The hike in stamp duty will be applied for both rentals as well as leave-and-licence [...] Continue Reading »

Stamp duty payment on property transactions to become easier

Stamp duty payment on property transactions to become easier
Paying stamp duty on property transactions is going to be easier now. The task of going around multiple offices will be eased very soon. To make the stamp duty collection system easy, Maharashtra cabinet has approved a new model under which authorized banks will collect stamp payments. With this the whole system will be secured against [...] Continue Reading »

Housing societies’ deemed conveyance gets poor response

Housing societies’ deemed conveyance gets poor response
Pune- A special drive launched by the state government last month to issue deemed conveyance for the housing societies has got poor response as the drive is plagued with innumerable problems from calculation of the stamp duty to the lack of awareness among the owners regarding the importance of society formation. Every  society requires deemed conveyance [...] Continue Reading »

Flat sold for Rs 28 crores in Mumbai

Flat sold for Rs 28 crores in Mumbai
Citibank, the leading foreign bank had put a flat for sale in 2008 in Malabar Hill‘s IL Palazzo building and Vinod Khanna, bollywood actor was the highest bidder with a record bid of Rs 1.20 lakh a sq ft for the 2,550 sq ft flat. But the actor did not go through the flat at that time. [...] Continue Reading »

Punjab revenue from stamp duty and registration fees going down

Punjab revenue from stamp duty and registration fees going down
Slowdown in the real estate sector has badly affected Punjab’s revenue collection from stamp duty and registration fee. There has been a decline of 15 per cent in receipts, compared to the same period in the previous financial year. Property dealers have been badly affected due to the slowdown of market as deals have decreased. [...] Continue Reading »