Q:
Why people are less prone to make high value investment before and after general election?
My replies to this discussion
Recently, the state government has been increasing stamp duty at 11%, it is much higher than other states. Recently, 1 % infrastructure development (ID) was added to it. Earlier, in 2012 too, 1 % social infrastructure cess was imposed in the state. It has made the purchase of property costlier for people. Besides, even as the state government implemented the decision to impose ID fee with immediate effect on property transfer, incentives like fee waiver are being delayed.Recently, the state government has been increasing stamp duty at 11%, it is much higher than other states. Recently, 1 % infrastructure development (ID) was added to it. Earlier, in 2012 too, 1 % social infrastructure cess was imposed in the state. It has made the purchase of property costlier for people. Besides, even as the state government implemented the decision to impose ID fee with immediate effect on property transfer, incentives like fee waiver are being delayed.
Q:
How to save tax by doing investment on property?
My replies to this discussion
Hi Ravi,
In my point of view, the ones who have a home loan in which they are a co-applicant and pay the EMI ,they can claim the entire deduction on interest as well as principal repayments. If the home is self-occupied, the total year interest deduction would be restricted to Rs 2 lakh. I am also assuming that you would continue to pay the entire EMI until the loan is fully repaid.Hi Ravi,
In my point of view, the ones who have a home loan in which they are a co-applicant and pay the EMI ,they can claim the entire deduction on interest as well as principal repayments. If the home is self-occupied, the total year interest deduction would be restricted to Rs 2 lakh. I am also assuming that you would continue to pay the entire EMI until the loan is fully repaid.
Q:
What is importance of NH 10 in Indian Real estate Market ?What will effect of this link in current market scenario?
Q:
I have a property in Ferozepur that i want to give on rent for ATM & Bank branch space. Can any one tell me the formalities that i have to complete and documents that i need to have for it.
Also, how much would it cost to complete these formalities.
My replies to this discussion
Hello, First you need to have the lease ready,Then purchase the stamp paper (in case of a lease up to 4 years the cost is 2% of an average annual year rent plus Rs 100 if there is a security deposit) the stamp paper can be bought at the corporation bank.After that demand draft of Rs 1100/- for the court under which the property falls. The entire procedure will takes 2 hours.Hello, First you need to have the lease ready,Then purchase the stamp paper (in case of a lease up to 4 years the cost is 2% of an average annual year rent plus Rs 100 if there is a security deposit) the stamp paper can be bought at the corporation bank.After that demand draft of Rs 1100/- for the court under which the property falls. The entire procedure will takes 2 hours.
Q:
I have a plot of 180 Sq Yds in a builders city, I have been charged a maintenance charge for my plot. I want to know whether there is a provision of charging Maintenance Charge even when they have IFMS with them.
My replies to this discussion
Yes, you have to pay the maintenance charges for your plot. The apex court has directed the director of town and country planning that they had no authority to direct developers to stop charging the maintenance fees.Yes, you have to pay the maintenance charges for your plot. The apex court has directed the director of town and country planning that they had no authority to direct developers to stop charging the maintenance fees.
Q:
It is always seen that innocent people who fall victim to the attractive offers of realtors in a bid to own their house.
My replies to this discussion
Yes, the Chandigarh State Consumer Disputes Redressal Commission has ruled that the realtors will be liable to pay penal interest at the rate of 12% per annum from the date of booking and not the date of buyers agreement, which is usually executed much after the booking, for delay in possession of the property.Yes, the Chandigarh State Consumer Disputes Redressal Commission has ruled that the realtors will be liable to pay penal interest at the rate of 12% per annum from the date of booking and not the date of buyers agreement, which is usually executed much after the booking, for delay in possession of the property.
Yes, the judgement made it clear that since 4 months delay in issuing allotment letter is clearly reason to the opposite parties, in all fairness, 24 months period for possession has to be computed from December 3, 2011, when the complainants signed the allotment agreement and submitted the same to the opposite parties on the same day.Yes, the judgement made it clear that since 4 months delay in issuing allotment letter is clearly reason to the opposite parties, in all fairness, 24 months period for possession has to be computed from December 3, 2011, when the complainants signed the allotment agreement and submitted the same to the opposite parties on the same day.
Q:
Hello sir I want to know that i am planning to buy commercial property in Mohali / Zirakpur , What are the registeree Charges/ Stamp duty and other changes
My replies to this discussion
Hi Sanjeev,
The UT administration revised collector rates in the city after three years. The new rates will be applicable from January 2.
The rates have been reduced in Industrial Area by 20% and up to 10% in residential areas with creation of three new zones. The rates of commercial property have also been reduced by 10% in Sectors 17 and 22, sub-city centre-34, Madhya Marg and the dividing road of Sectors 34 and 35.
For more details on it check this link it will help you a lot http://www.hindustantimes.com/punjab/ut-admn-slashes-collector-rates/story-GQRSGXD4Xa15Z1vjsSksDN.htmlHi Sanjeev,
The UT administration revised collector rates in the city after three years. The new rates will be applicable from January 2.
The rates have been reduced in Industrial Area by 20% and up to 10% in residential areas with creation of three new zones. The rates of commercial property have also been reduced by 10% in Sectors 17 and 22, sub-city centre-34, Madhya Marg and the dividing road of Sectors 34 and 35.
For more details on it check this link it will help you a lot http://www.hindustantimes.com/punjab/ut-admn-slashes-collector-rates/story-GQRSGXD4Xa15Z1vjsSksDN.html
Q:
I am keen on buying a property in Mohali, but with so many options, I am unable to decide.Have heard alot about Mohali Junction Project. Please put up your opinions
My replies to this discussion
Hi Vaibhav!!
Mohali Junction Project will be a self-sustained development project with international standard, located along the key growth vector of Mohali. It will comprise of 3 towers namely: 1) C&C Capital - It will comprise of shopping mall, corporate offices and hyper mart, 2) C&C Terminus - It will contain air conditioned bus terminal, entertainment zone and 10-screen multiplex and, 3) C&C Royale - It will include business hotel Hyatt place, banquet hall, spa and corporate offices. It is heard that these towers will be interconnected through AC bridges for an easy access.Hi Vaibhav!!
Mohali Junction Project will be a self-sustained development project with international standard, located along the key growth vector of Mohali. It will comprise of 3 towers namely: 1) C&C Capital - It will comprise of shopping mall, corporate offices and hyper mart, 2) C&C Terminus - It will contain air conditioned bus terminal, entertainment zone and 10-screen multiplex and, 3) C&C Royale - It will include business hotel Hyatt place, banquet hall, spa and corporate offices. It is heard that these towers will be interconnected through AC bridges for an easy access.
Q:
I would like to rent a property of approx 4000 square foot and open my own pre-school would like to know the laws and regulations and process for me to do the same.
My replies to this discussion
Hi,
Better, if you may check up the definitions from the local corporation/municipal laws. And ensure that your client or guardians of the kids are not using common areas such as parking lot or other amenities. Usually, commercial activity within residential premises is generally not permitted due security reasons, besides being a serious traffic nuisance for the residents. Ensure your business or service is not becoming a nuisance or threat of security system.If you are sure than go forward.Hi,
Better, if you may check up the definitions from the local corporation/municipal laws. And ensure that your client or guardians of the kids are not using common areas such as parking lot or other amenities. Usually, commercial activity within residential premises is generally not permitted due security reasons, besides being a serious traffic nuisance for the residents. Ensure your business or service is not becoming a nuisance or threat of security system.If you are sure than go forward.
Q:
Respected Sir
With due respect, I want to ask a query that When unmarried lady is transferring property(urban/rural residential) to her sister's daughter. Can exemption from stamp duty and registration fee be claimed here? If yes, Kindly send the supporting documents at akalharpreet@gmail.com.
Related to punjab state. Kindly reply as soon as possible.
Thanks
My replies to this discussion
Hello Harpreet,
No, you can transfer your property to your sister's daughter but you will not get any exemption on stamp duty. You will only get exemption on stamp duty if that property is transferred to blood relations. You can gift her and for that you have to pay nominal charges.Hello Harpreet,
No, you can transfer your property to your sister's daughter but you will not get any exemption on stamp duty. You will only get exemption on stamp duty if that property is transferred to blood relations. You can gift her and for that you have to pay nominal charges.
Q:
I am about to get possession of my flat from AFNHB Airforce Naval Housing Board. Builder is telling me to register the property prior to giving possession.
Is this legally permitted
My replies to this discussion
I am agree with Baljeet..... if builder has rights to cancel your booking for delay payments then buyer too has rights if a builder fails to provide Occupancy Certificate during registration. So make the final payment and proceed for registration, if the builder fails to provide the OC (if accepted by builder to be provided) then you can proceed legally against the builder for non-compliance. There is no question of any force being put by the builder on buyer.I am agree with Baljeet..... if builder has rights to cancel your booking for delay payments then buyer too has rights if a builder fails to provide Occupancy Certificate during registration. So make the final payment and proceed for registration, if the builder fails to provide the OC (if accepted by builder to be provided) then you can proceed legally against the builder for non-compliance. There is no question of any force being put by the builder on buyer.
Q:
I have to move to Chandigarh in the next two years. I don’t know about the real estate there and need suggestions. What are some of the cheapest properties?
Q:
Arcadia Park East is a residential society spread across some 4 acres with maximum greenery and open space with majority of fresh environment. It has space for catering 204 families in the form of 1BHK, 2BHK and 3BHK apartment sets. This residential space has so much to give and spend great time with your loved ones.
http://www.arcadiaparkeast.newprojectlaunchindia.com/
My replies to this discussion
Hello Harleen,
What are the basic amenities provided by the developer in Arcadia Park East Mohali? Which all banks are funding this project? What is the current status of this project?Hello Harleen,
What are the basic amenities provided by the developer in Arcadia Park East Mohali? Which all banks are funding this project? What is the current status of this project?
Q:
Joynest ZRK1 offers a perfect location, a club house, kids play area, and landscaped areas at affordable price.
My replies to this discussion
Hi,
I am looking for a 3 BHK apartments in Mohali for end use. What is the sizes of the flats and its rate per square foot? Are all approvals in place? Is this project approved by RERA or not?Hi,
I am looking for a 3 BHK apartments in Mohali for end use. What is the sizes of the flats and its rate per square foot? Are all approvals in place? Is this project approved by RERA or not?
