Q:
I have a property in Kolkata. I want to transfer it to my younger sister and her husband as gift deed. Is the gift deed needs to be registered for property transfer? If yes, what is the stamp duty that I have to pay to get it registered?
I own a flat at Kolkata. Wish to transfer it on my son's name through a transfer deed. What is the best way to do or is there any other method. If so tax and other legal implications?
My father has left a house, which he has divided among his three children. Right now only I am staying in the house. My siblings want to gift their portions to me without consideration. However, I am of the opinion that I should give them some monetary gift as part of a family settlement.what is the proper way to so this transaction.
Q:
Hi all, can you tell me how is the present real estate scenario of Kolkata. Is it wise to invest in it now? Please guide me which are the prime areas good for investment??
Is Kolkata real estate market emerges as a retail, commercial as well as residential hub?
Some of the key influencers that are driving these investments in Kolkata are as follows:
1. Lower land acquisition cost compared to other metros
2. Government's active involvement in development initiatives
3. Lower property prices
4. Availability of scalable infrastructure
11th December 2015
Hi Anish, agree with you!!
Recently, the outlet of Merlin Group's Acropolis Mall in E M pass has opened a gateway for peripheral areas like Rajarhat, Howrah and Belur which are now emerging as a new high-street destination.
Q:
Hi! What is the average capital as well as rental value of commercial space in Rajarhat? Why the Rajarhat, Kolkata real estate market in huge demand today? What is the factor behind it?
Is it worthy to buy a 2d home in Rajarhat, Kolkata? Which builders should I consider? What are the mid-long run development possibilities there? I plan to purchase in mid-2016.
Rajarhat is a fast-developing deliberate satellite city. This new IT and residential hub are being developed on the north-eastern fringes of Kolkata. It is a planned city and price will appreciate. My advice could be to invest with the future prospect of next 5 to 10 years, however after doing a suitable ground examine on the project, you need to buy.
Q:
We had purchased one unit in Tower 6 already and went to visit our property today. We have already taken care of the payments and wanted to plan the closing. We went there at 5.15pm, but were treated like some unwelcome people, and sent back at the gate, saying the office closed at 5pm. Is this the way to treat a buyer? I wish someone had guided us with some basic information and a plan to meet them the next time - instead we were disrespectfully sent away. The receptionist there (Mr.Mohan) and his boss (Ms.Devyani) went to the extent of saying you can go and complain wherever you want. I am guessing they are used to treating clients rudely so they could not see the difference. We were shocked by this experience. It is a shame and really wish people learn to respect people. They could have been gentle with us and we would have become proud members of the community and referred more people. Instead this incident left a very bad taste with us. Really wish we were not associated with such an organization.
Khatheja B.
I am interested in purchasing an apartment at PBV. If you have purchased a property here or considering it to resale, please let me know. I also wanted to know about your customer experience while dealing with their representatives.
Hi Anish, I live just behind S&S and can see the construction progress rapidly day by day. They are using cement blocks for their construction. A prestige bella vista owners welfare association is also being formed to keep buyers informed of happenings of the project and share concerns and progress etc
Q:
Godrej Prakriti for smart & premium residential 2 BHK Flats in Sodepur & lavish 3 BHK Apartments in Sodepur, Kolkata. Ranging from 885 to 1170 Sq Ft sizes with all the luxurious amenities & sober facilities. Godrej Prakriti is developed by the renowned Godrej Properties Limited, proving it best residential properties in Kolkata.
Amenities:
Swimming Pool
Gymnasium
Children Play Area
Club House
100% Power Backup
Very Large Landscape Gardens
Joggers Park
Vaastu Shaastra
I am bit confused regarding the price given for 2 BHK unit in Godrej Prakriti. Is it based on super built up area or covered area or floor area? I also need information about total number of towers and floors in each tower for this project?
Hi Anish,
Hello, recently I visited the project site and I really like the project. This is a really big project with total 22 acres of lands. As per builder executive, the current rate per sq ft is Rs 3800. They offer car parking free. Yes, you get 3 BHK, 1100 sq ft in your budget. As per construction status is concerned almost 9 tower is in ready to move position and rest construction is in full swing.
7th December 2015
Prakriti is approved under township planning and as per builder sales executive there is no legal issue with this project. The project is tied up with various banks like DHFL, LIC, HDFC and ICICI bank.
7th December 2015
There are few features which you should maintain while checking builder credential like words of Mouth.This is without doubt one of the simplest ways to find out details about the reputation of a builder. If this builder has recently carried out some work on your colleagues, household, acquaintances and so forth, then they will surely be in a position to share their experiences with you. This is definitely impartial understanding that no broker can offer you.
7th December 2015
I recently come to know about this wonderful project, like to know which all amenities builder are providing with this project?
Hi Poonam,
Godrej Prakriti brings in some of the basic as well as premium specs which include club residence, meditation center, multipurpose corridor, convention room, buying center, sports facility, children play area, swimming pool, health club, restaurant, cafeteria, park, 78% open areas, video safety, intercom, firefighting system, strength backup, water plant, rain water harvesting unit, sewage treatment plant, spherical the clock water supply, wireless connectivity, property personnel, ATM, lift, and automobile parking, amongst others.
Hi Kaustav,Magnolia Mint is a newly launched project in affordable segment. This is a single apartment with 32 flat, G+4 floors. The project consists of 2 BHK (903,907 & 909) and 3 BHK (1165). In my understanding if you are looking for a simple residential project, then this is the best options for you. Projects are getting location advantages.Hi Kaustav,Magnolia Mint is a newly launched project in affordable segment. This is a single apartment with 32 flat, G+4 floors. The project consists of 2 BHK (903,907 & 909) and 3 BHK (1165). In my understanding if you are looking for a simple residential project, then this is the best options for you. Projects are getting location advantages.
My comments to replies
Hi Kaustav,Magnolia Mint is a newly launched project in affordable segment. This is a single apartment with 32 flat, G+4 floors. The project consists of 2 BHK (903,907 & 909) and 3 BHK (1165). In my understanding if you are looking for a simple residential project, then this is the best options for you. Projects are getting location advantages.
Hi, I am staying in near about this area. Project location advantages:
Location Advantages:
1. Behind Eco Space.
2. School DPS Megacity.
3. National English School & DPS Newtown.
4. University / College- JIS Medical College, Central Law College, Alia University, Techno India College & IIT.
5. Hospital- Apex Hospital, Ambuja 500 Bed Hospital, Tata Medical Centre, OHIO Heart Hospital, Charnock Hospital.
3rd December 2015
Hi Kaustav, The project site is very simple to trace. If you are coming from Rajarhat Road, Come directly to color more junction and from there you have to take a DPS school road, beside DPS you get the project site board. The project is located on the road so you need not worry about cross and turn.
3rd December 2015
What is the market trends in this area? Is the current price of this project, good for investment purpose?
Hello anil, Banks like Axis, LIC, SBI, ICICI, PNB and HDFC have approved this project. But if you want a home loan from any other banks builder will provide all necessary documents and also help you in getting loans and loan process.
Hi, thanks for the wonderful information, Right now I am holding two loans, one is a personal loan and another is a home loan, I would like to know whether I can club my personal loan with the home loan, so that I can pay only one EMI?
It is extremely important for you in case you are taking any home loan. In case you have chosen for the floating interest rate scheme then strictly pay attention when RBI increases or decrease the interest rate. Usually RBI revised their base rate quarterly. Check minutely whether reflection takes place on your loan or not.
9th December 2015
Necessary document:
1. Duly completed application form with Passport size Photo,
2. Fee Cheque,
3. Proof for Photo and age,
4. Repayment Track record of existing loans (if any),
5. Residence Address proof and signature verification proof,
6. Copy of Sanctioned plan and sanction letter.
DTC SOUTHERN HEIGHTS offers 2 BHK and 3 BHK apartment with toady's amenities and best-in-class specifications.It is spread on 10 acres of land with almost 1300 units in the midst of tranquil surroundings and approx 70% of open space.
What's about the status of the project construction and has the project obtained approval from banks and authorized body? Is the builder going to furnish Occupancy certificates?
Good news for home buyer! Now after passing the regulatory bill, builder and developer have to provide entire document and process transparent. Currently, The industry is currently abuzz with incidences where home buyers are not provided with complete information regarding projects. This move mandates developers and promoters to disclose all critical small print and keep the whole house buying approach transparent.Good news for home buyer! Now after passing the regulatory bill, builder and developer have to provide entire document and process transparent. Currently, The industry is currently abuzz with incidences where home buyers are not provided with complete information regarding projects. This move mandates developers and promoters to disclose all critical small print and keep the whole house buying approach transparent.
In this day,vastu has turn out to be an important determining component for buying a property. Something that's alleged to be certain prosperity and happiness is sure to grab the attention of a typical Indian buyer.As a result vastu compliance has become a prime criterion among home buyers.
Yes Anish, You are right !! I think one must make certain that the toilet/bathroom is just not in the north-east corner of the condo. Ideally, it must be within the east of south-east, south of south-west or west of the north-west nook of the house. It is recommended to restrict such houses/apartments as there's no remedy available to negate the negative impact of this.
15th December 2015
Yes, You are correct dear!!
Many people chooses the entrance as per his/her profession like:
1. Business – North facing entrance
2. Politics - East facing entrance
3. Artist/Creative - South facing entrance
4. Management - West facing entrance
Hi Folks,
The urban development ministry on Tuesday received 85 of the 98 smart city proposals as states and union territories kept to the stipulated deadline of December 15. But Tamil Nadu, which ask some time to submit 12 proposals due to floods in Chennai and Telangana which sought to replace Hyderabad with another city, were the only exceptions.
Right Vibhor,
Till now, the ministry has received the proposal of 85 cities. The total investment proposed in the 85 city plans is around Rs 2.5 lakh crore.
16th December 2015
Yes, 30 foreign companies from 20 countries have been associated with preparation of smart city proposals of 45 mission cities. These included the likes of KPMG, McKinsey, CISCO Systems, PricewaterhouseCoopers, Deloitte Touche Tohmatsu, JLL, Dorsh Holding GmbH, Knight Frank, Tractabel Engineering SA, Haskoning DHV Consulting, Grant Thornton, Happold Engineers, Ecorys Netherlands BV among others.
16th December 2015
Hi,
Under Smart Cities mission, 98 cities that have been included have a total population of about 13 crore which accounts for 35% of total urban population in the country. After receiving all Smart City Proposals, the ministry of urban development will set in motion the second state of "City Challenge Competition".
Hello Jyothi,
And under ''City challenge Competition'', proposal will be estimated based on implementation framework (30% weightage), Result orientation (20%), Citizen Participation (16%), Smartness of Pan City Solutions (10%), Strategy based on SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of city (10%), City vision and goals (5%), Quality of city profiling including identification of Key Performance Indicators (5%) and Processes followed (4%).
Hi Kaustav,
If you're planning to purchase a home or already booked one, you need to understand the relevance of site visits. Frequent site visits can help to determine the growth of development and deviations,if any from the approved plan.
There are various reasons to visit the site of construction for a homebuyer:
Authenticity
Progress
Quality
Verification of amenities
Q:
Hi, I am interested in GREENFIELD ELEGANCE located at Rajarhat. It would be great if anyone tell me more about this project? Share me about the builder and their credentials?
Greenfield Elegance is a residential ongoing project by Bengal Greenfield Housing Development Company in Rajarhat, East Kolkata. The project offers only 3 BHK apartments with size vary from 1399 to 1500 sq ft. Bengal Greenfield Housing Development Company is renowned developers with past credentials like Greenfield Ambition, Greenfield Heights, Greenfield City etc.
Hello all, I am new to this forum and would like to take your expert opinion regarding this project, locality and connectivity? My budget is around 50 lakhs.
Hello Dear, I was bought a residential apartment in January 2015 for Rs. 84 lakhs and sold the house in august, 2015 for Rs.90 lakhs. Is this gain of 6 lakh arising as an amount of sale of the residential house will likely be charged to tax?
Yes, dear, you have to pay capital gain tax. In your case of the capital gain comes under short terms capital gain and you have to 30% tax. No tax exemption benefit should be covered in this case.
Hoping, that the new real estate regulatory bill, once it is cleared by the Parliament, is likely to improve transparency and accountability which will eventually improve reduction in delays.
@Jitu,
Unsatisfied buyers can now approach 644 consumer courts at the district level instead of only the Regulatory Authorities proposed to be established mostly in capital cities. This makes it convenient for buyers and reduces the costs of litigation. Also, the bill marks a provision for imprisonment of builders and real estate agents in case of violation of rules.
As per Raghuram Rajan's move, now the stocks of public sector banks increased in spite of investors being disappointed over the central bank's decision to hold policy rates.As per Raghuram Rajan's move, now the stocks of public sector banks increased in spite of investors being disappointed over the central bank's decision to hold policy rates.
My comments to replies
Now you all want to know that what kind of assets could be revalued. Here are those banks which hold real estate where the value is not recognized anywhere and this could one of the items that could be revalued. Almost all public sector banks hold real estate with market value running into thousands of crore.
Hi Pradyuman,
You are absolutely right but orthodox accounting norms prevent this value from being recognized in the balance sheet of banks.
Hi Rajesh,
Since the developer has failed to allow you free user of the common area, you can file case for damages against him in the consumer forum as well.Hi Rajesh,
Since the developer has failed to allow you free user of the common area, you can file case for damages against him in the consumer forum as well.
Hi,
India is having no prospect of progress whether it is residential or commercial real estate, we are talking about. Over the next 10-15 yrs, the industry will only grow. If you look at the corrections, prices are still largely the same in metro cities. I am not denying that it may have seen a dip with some of the premium builders taking knowledge of the demand and bringing it down, but for others it has remained largely unchanged.
I am agree with you Kunal. Salary increases projection for the Real Estate and Infrastructure industry for 2016 is 9.8% which is a cautious number which would reach around around the India average of 10.3% in the next 12-18 months.
25th February 2016
Well Kunal,
Sales is a highly transferrable skill set, therefore this section in the industry sees movement across sectors. However, employees in core functions like architects and engineers have specific skill set. Therefore, there is not highly weak level here.
25th February 2016
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