Real Estate Forum on Property Tax in Hyderabad

Latest Answer: Apart from the above mentioned points, a under-construction properties priced up to Rs 45 lakh will now be treated as affordable housing projects and will attract 1% GST without the ITC.

Latest Answer: Hello Vijay, These changes rate of GST are applicable from April 1, 2019. People who have already booked their flats and have made part payments, can save money as the cost of the apartment has already been fixed. What will change is only the rate of GST applicable on the instalments that have not yet been paid, if they are able to get the demand for the instalment issued after the new rates come into effect. As per GST rules, the GST is payable on the earliest of three occasions- 1) Receipt of payments, 2) Raising of invoice, and 3) Completion of service or supply of goods. So, if you can get the developer to issue the invoice or demand for the remaining instalments, on or after April 1, 2019, you will be able to avail of the reduced rates of GST.

Latest Answer: Here is how to calculate registration charges on property in Hyderabad Suppose, property value is Rs.10 lakh Stamp Duty payable = property value *4/100, Registration Fee=Property Value*0.5/100, transfer duty= property value*1.5/100 No, the total cost = Rs.100000 + 40000 (stamp duty paid) + 5000 (registration fees) +15000 (transfer duty) = Rs1060000

Latest Answer: Hello Megna, I agreed with Nagesh. Apart from that, the rates of both, stamp duty and registration charges are based on the price of the property registered or the ready reckoner rate, whichever is higher. Any delay in the payment will charge a penalty of 2% on a monthly basis. Stamp duty charges also depend on whether a given property is new or old.

Latest Answer: GST will free potential homebuyers and investors from the stress of paying numerous state taxes at different levels, therefore eliminating the double taxation impact. Therefore 12% tax rate under GST regime looks favorable to the industry.

Latest Answer: No, you do not have to pay VAT for your flat. You have to Pay only Stamp Duty - 4.5%, Registration Charges - 1.50% and transfer Fee - 0.50%. Your builder has to pay VAT and later apply for the Input Credit and later he will pass it on to us.

Latest Answer: I agreed with Nagesh, Apart from that, the rates of both, stamp duty and registration charges are based on the price of the property registered or the ready reckoner rate, whichever is higher. Any delay in the payment will charge a penalty of 2% on a monthly basis. Stamp duty charges also depend on whether a given property is new or old.

Latest Answer: thanks but the article shows the total cost as 6% but the builder claims it is 6% + VAT 1.25% + 4.6% Service tax ?

Latest Answer: Every property is an asset which is taxable and the property tax is an annual amount paid by a property/land owner to the government. Have not heard that property tax is applicable after the period of 2 years.

Latest Answer: Service Tax is 12.36% on 25% of BASIC Price ( if Land Cost is included ) otherwise 12.36% on 33% of Basic .