Real Estate Forum on Property Tax in Indore

Latest Answer: Indore, the land of food, culture, modesty, charm and outright hospitality is a place which feels like the home. Indore has very rich roots & with the time, has become one of the most livable city in India.Though Indore being a TIER-II city it has it all right from Education, Technology, Research, Art, Fashion, Media, Finance, Commerce & Entertainment, the city has got it all covered.Prospective growth of the IT sector has fuelled the growth of residential real estate in the city. The residential property Flats in Indore is in boom for its facility of 2BHK, 3BHK, 4BHK flats at supercorridor indore in DCNPL hills vista.

Latest Answer: Hi Aashish, You have to pay 8% as stamp duty and 1% as registration charges.

Latest Answer: Hi, Outside Bhopal Municipal Corporation Limits- For Houses - Same as mentioned above for houses, only excluding 1 percent Municipal Corporation Fee For open land - Same as mentioned above for houses, only excluding 1 percent Municipal Corporation Fee Note- If the buyer is a woman, she is exempted from 2 percent charge on stamp duty.

Latest Answer: Hi, I had a question regarding if i have a plot in the name of my grandmother and per her wish she wants to transfer the plot between her sons, will they be stamp duty and registry charges for the same?

Latest Answer: Hi Rumit, For any sale to attract VAT, it should involve transfer of goods from one person to another. In case of under-construction properties, its the transfer of ownership rights from the developer to buyer in the form of a sale agreement, in select states. This tax is governed under the ‘works contract’ in the VAT law. For instance, VAT is charged at the rate of 1% of agreement value in Mumbai and Pune and 5% in Bangalore, but there is no VAT levied for apartments purchased in Noida-NCR, Chennai, and Kolkata.

Latest Answer: Hello Dear, I could not understand what your want to ask, request you to tell in proper manner so that we can help you out ...

Latest Answer: With the increase in the service tax, the cost of construction wil increase and also the rental value in the city will also increase by some amount, so this will have a negative impact on the real estate market.

Latest Answer: the city has around 4 lakh registered property tax payers. And if the property tax is not paid on time, then there will be a huge loss for the municipality only in terms of revenue. The authorities are actually suggesting that we pay the taxes before the 31st of December, just to be safe and not face a fine.

Latest Answer: Basically this Treasure Island mall was occupying more space than they were allotted and were paying property tax for. So when the IMC found out, they called them out on it, and asked them to pay the appropriate property tax, acc to the total area that they are actually occupying.

Latest Answer: Actually let me elaborate a little. Ok so under this, anybody who had not being regular in paying their water taxes will receive an ecxemption till March 31 2012. So basically you just have to pay the water bills from April 2012. Its a great way of clearing up your records.