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Jail term for home buyer if they fail to obey the orders of RERA. (26 Jul 2017)

As the Real Estate Regulation and Development Act, 2016, crossed the Rubicon on May 1, it is going to change the way India invests into the real estate sector. Being a consumer-centric law, it is undoubtedly a delightful scenario for buyers. But there is one more dimension to it - jail term for a home buyer for up to a year if he fails to obey the orders of the regulatory authorities or the appellate tribunal.

Section 68 of the Act says: “If any allottee, who fails to comply with, or contravenes any of the orders or directions of the Appellate Tribunal, as the case may be, he shall be punishable with imprisonment for a term which may extend up to one year or with fine for every day during which such default continues, which may cumulatively extend up to ten per cent of the plot, apartment or building cost, as the case may be, or with both.”

Now, sample this:
Twenty-eight-year-old Sumit Sehrawat, a resident of Old Gurgaon, bought a flat in Dharuhera. When his gang of four friends came to know about it, they too applied for flats in the same project. Owing to fund crunch, they decided to give up their flats. They approached the developer and sought their money back. Upon refusal, they manhandled the small-time developer and the staff and threatened to lodge a false complaint.

Cases such as these are faced by developers, especially small builders, who have been held to ransom by certain crafty buyers.

Trashing the provision in the Act, Abhay Upadhyay, who is spearheading the campaign Fight for RERA, says: “The clause was not required at all. No country in the world makes rules for specific instances. There may hardly be any cases where a builder has filed a case against a consumer. Since the Act had to be balanced, the clause has been incorporated. In my opinion, it will not be invoked in the next 100 years.”

But developers highlight that any Act having no control over the buyers would have been meaningless. Even buyers need to be disciplined.

“The initial reaction post-RERA is ‘advantage-buyer’ to the extent that we may see it becoming ‘disadvantage real estate developer’. Let the law be balanced and fair to both the sides,” maintains Niranjan Hiranandani, Hiranandani Group Chairman.

Manoj Chaudhary, MD, Airwil Infra Ltd, says, “We have had multiple instances where buyers have harassed developers on illicit grounds to make way for their petty profits.” Adding to this, Prithvi Raj Kasana, MD, Morpheus Group, says, “Buyers forcing developers to alter project details other than the one approved just because a majority of them want the change should also be considered by the tribunal.” He maintains that developing projects over a span of three – four years requires a lot of financial planning and in case there are stuck payments from the buyer’s end all these planning may go for a toss. But Fight for RERA’s Upadhyay highlights that 90% of home buyers avail of home loans to buy a house. “So the question of them faulting on paying money to the builder does not arise. They may fault on the timely payment of their EMI which is already covered under the relevant provisions of the existing laws.

“It makes sense that developers should be protected from buyers who renege on a contract, just as buyers are protected from any untoward action or lack of action from developers,” says JLL India CEO & Country Head Ramesh Nair. The company’s chairman, Anuj Puri, adds that the Act was not put together and rolled out as a one-sided punitive tool for developers alone. “In the past, developers have also had their issues with buyers, and any fair and just legislation must take a balanced view. This is why RERA will also hold buyers accountable,” maintains Puri.

However, other experts point out that such a provision will hardly be used against a buyer.

Sudip Mullick, partner, Khaitan and Co, says: “The only scope I see is if the buyer does not take possession or stops paying maintenance. If he does not take possession then that would lead to the termination of the contract or his money would be forfeited.” He further adds that there may be cases where a troublemaker buyer may want to burden the court with frivolous litigations but “getting a jail term for any of the above acts is a far-fetched situation. I don’t see any other reason why a buyer would breach the contract and end up in jail.”

“If someone is a genuine buyer, such an issue would never crop up,” says Pune-based property consultant Rani Wilfred.

Notwithstanding the fact that it’s for the courts to award punishments to the erring parties, developers have been lamenting that they might be axed for the delay on the part of government agencies. What about accountability of the government departments? The Act fails to talk about the liability of the babus.

“Government departments are not covered specifically and delays caused due to red-tape and long-drawn local procedures should not be attributed to the developers and result in unjustified action against them,” says Puri.
“It is doubtful whether the authority can direct government agencies or bureaucrats to carry out a task. There may be provisions which may be helpful to authorities to appropriately take steps or even on an application recommend the government agency to expedite. It may not be binding on the department concerned but they can be asked to do so” explains Mullick.He further adds that the government bodies are also involved in residential and commercial real estate business and will come under the purview of RERA. “So, it is not that only developers will suffer, the government will also suffer,” sums up Mullick.

 

Source: economictimes.indiatimes.com


बायर्स को जल्द फ्लैट दे रियल एस्टेट बिल्डर्स - मुख्यमंत्री योगी आदित्यनाथ । (25 Jul 2017)

लखनऊ: उत्तर प्रदेश के मुख्यमंत्री योगी आदित्यनाथ ने रियल एस्टेट बिल्डर्स को चेतावनी दे दी है कि यदि 1.5 लाख बायर्स को जल्द फ्लैट नहीं देते तो उनके खिलाफ ऐक्शन लिया जाएगा। मुख्यमंत्री ने कहा कि इस समय रियल एस्टेट कारोबारियों के सामने विश्वास पर खरा उतरने की बड़ी चुनौती है। उन्होंने कहा 'राज्य सरकार का चार माह का अनुभव है कि प्रदेश में बिल्डरों और खरीदारों के बीच में बड़ी समस्या है।'

मुख्यमंत्री ने यहां कनफेडरेशन ऑफ रियल एस्टेट डिवेलपर्स असोसिएशन्स ऑफ इंडिया (क्रेडाई) द्वारा आयोजित सम्मेलन में कहा, 'रियल एस्टेट क्षेत्र द्वारा योजनाओं को आधा-अधूरा छोड़ देना सबसे बड़ा संकट है। नोएडा और ग्रेटर नोएडा में यही समस्या सामने आ रही है। लगभग डेढ़ लाख खरीदारों को धनराशि अदा करने के बाद भी घर नहीं मिल पा रहा है। इससे विश्वसनीयता का संकट पैदा हो गया है। प्रदेश सरकार के प्रयास पर कुछ बिल्डरों ने सकारात्मक रुख अपनाया और आवास देने की समयसीमा तय कर दी, जबकि कुछ बिल्डर कोई कदम नहीं उठा रहे हैं। संवाद से रास्ता न निकलने पर प्रदेश सरकार को सख्त कदम उठाना पड़ेगा। सरकार की अपील है कि कार्रवाई की स्थिति न उत्पन्न हो।'


मुख्यमंत्री ने कहा कि दूसरी बड़ी समस्या अनधिकृत कॉलोनियों के निर्माण की है। डिवेलपर्स द्वारा बिजली, पानी, सड़क, सीवर, ड्रेनेज आदि सुविधाओं का विकास किए बगैर कॉलोनियां बना दी जाती हैं। बाद में इन कॉलोनियों का नगर निगम या विकास प्राधिकरण आदि संस्थाओं द्वारा अधिग्रहण कर इनके विकास के लिए अभियान चलाया जाता है। उन्होंने कहा कि शहरी क्षेत्र में बुनियादी सुविधाओं के लिए आने वाला व्यक्ति बीमारी का शिकार हो जाता है और दोष सरकार पर आता है कि वह कुछ नहीं कर रही है, जबकि इन अनधिकृत कॉलोनियों के विकास के लिए बड़े पैमाने पर पूंजी की आवश्यकता होती है। ऐसी स्थिति को रोके जाने की आवश्यकता है।

योगी ने कहा कि प्रधानमंत्री नरेंद्र मोदी के वर्ष 2022 तक सभी को आवास मुहैया कराने के लक्ष्य को ध्यान में रखकर प्रदेश सरकार अधिक से अधिक मकानों का निर्माण कराना चाहती है। प्रधानमंत्री आवास योजना (ग्रामीण) के अंतर्गत 10 लाख आवास निर्माण का लक्ष्य है, जिसमें से 6 लाख परिवारों को चिन्हित कर धनराशि का आवंटन भी कर दिया गया है।

मुख्यमंत्री ने कहा कि प्रधानमंत्री आवास योजना (शहरी) के लिए राज्य सरकार ने दो लाख आवासों के निर्माण का लक्ष्य निर्धारित किया है। इस योजना के तहत केंद्र सरकार द्वारा डेढ़ लाख रुपये और राज्य सरकार द्वारा एक लाख रुपये, कुल ढाई लाख रुपए की धनराशि दी जाती है। योगी ने कहा कि राज्य सरकार ने प्रदेश में केंद्र सरकार के 'रेरा ' कानून को लागू कर दिया गया है। राज्य सरकार के इस फैसले में रियल एस्टेट क्षेत्र के सहयोग और समर्थन के लिए प्रसन्नता जताते हुए उन्होंने कहा कि इस कानून में ऑनलाइन पंजीकरण की व्यवस्था की गई है। आगामी 26 जुलाई को इसका पोर्टल भी शुरू कर दिया जाएगा।

 

Source: navbharattimes.indiatimes.com


Government extended deadline for businesses to register under GST. (24 Jul 2017)

The Indian government has extended the deadline till August 16 for businesses to opt for composition scheme under the GST regime.

"With a view to ease the compliance burden of provisionally migrated small taxpayers opting to pay tax under the composition scheme, it has been decided to extend the time limit for filing intimation for composition levy up to August 16, 2017," the finance ministry said in a statement.

Small businesses with turnover of up to Rs 75 lakh were earlier given time till July 21 to opt for the scheme in the Goods and Services Tax regime.

The government is mindful of the concerns of tax payers, especially the small taxpayers, arising from transition to the GST regime from July 1, 2017, the ministry said.

To opt for composition scheme, the taxpayer needs to log into his account at the GST Portal www.gst.gov.in and select 'Application to opt for the Composition Scheme' under 'Services' menu. They have to fill up the Form GST CMP-01 to opt for the scheme.

Under composition scheme, traders, manufacturers and restaurants can pay tax at 1 per cent, 2 per cent and 5 per cent, respectively.

The ministry further said taxpayers willing to cancel their GST registration can do so till September 30,2017.

"Taxpayers who were provisionally migrated by virtue of being registered under the existing laws, but who are no longer required to be registered under GST, the period of applying for Cancellation of Registration is being extended up to September 30, 2017," it said.

There are over 70 lakh excise, VAT and service taxpayers who have migrated to the GSTN portal for filing returns in the GST regime which kicked in from July 1.

Besides, there are over 8 lakh new taxpayers who have registered on the portal. These new registered taxpayers can opt for the composition scheme at the time of registration.

 

Source: www.news18.com


GST on Real Estate (18 Jul 2017)

The idea of GST stands out on account of its usage of ‘tax credits’. the first purpose of this can be to scale back and eliminate instances of cascading taxes or ‘tax-on-tax’ paid at totally different stages of the real estate supply chain.

GST is expected to keep realty prices low for the affordable housing section, however increase prices for others. Considering that nearly seventy per cent of the important estate market caters to the middle to high financial gain phase, GST may shift focus, significantly of smaller developers towards the high volume, low to medium financial gain phase.

While it is early days yet to state the exact impact of GST on the real estate market, the above issue of being able to incorporate tax credits carries the potential to reduce costs.

There are other aspects that also need consideration such as:

The incorporation of a tax credit system will require all parties within the value chain to be under the GST net. Several sources of material such as river sand etc. are not from organised sources.

The composition scheme could be retained as an option, but only to providers of materials; it will need being withdrawn from developers.

A separate regime has been contemplated for collection of GST. The tax audit and quality control protocols will also need considerable changes to ensure that advantages of low levies in certain segments and materials are not misused in an inappropriate segment, such as a developer claiming higher credit for a material not used in construction, but which is difficult to detect once the unit has been constructed.

Stamp duty remains as a single issue of contention for both buyers and sellers in the real estate market. It had been presumed that the GST regime would have subsumed or lessened the burden of this tax to an extent – except that this did not happen. The one hope that GST could offer is to provide an opportunity to the developer to reduce property prices, which in turn would also reduce the incidence of stamp duty as a percentage of the property price.

One of the positive effects of GST that is being anticipated is its impact on certain segments of real estate such as warehouses and logistics facilities that facilitate road or rail based movement of goods between States.

Earlier, routes and positions of warehousing facilities would be determined by the tax incident on the goods being transported to the warehouse; so a facility located in a low tax incidence area would be more viable as compared to a high tax incidence area, moderated by the cost of transport along both routes.

GST by itself cannot be treated as a panacea to real estate market woes – both for the buyer as well as for the seller or developer. Broader policies in land and housing/ commercial stock management, ensuring availability of appropriate financing resources etc. will be just as important to leverage the opportunity posed by GST.


Developers can get RERA-READY if they comply with these points. (13 Jul 2017)

The Real Estate (Regulation and Development) Act, 2016 (RERA), has given India’s realty sector a new direction however there are some growing issues being faced by developers. Every new thing whether it’s a law take time to set on the base. Developers must comply to few things for friendly acceptance of the RERA ACT.
 

Redesigning business
Madhya Pradesh RERA regulator, Antony De Sa, says even those states which are ready, developers are not ready. “For a large number of developers it meant filling forms, which are lengthy and cumbersome. Developers will have to redesign their allotment letters, sales deeds, brochures, advertisements and their cash-flow management to become RERA-ready.” Haryana RERA Executive director, Dilbag Singh Sihag, says that even though the state has not officially notified rules, developers are being registered after submitting an affidavit. “In Haryana, more than 15 applications have been received, out of which 8 registrations have been issued while others are in the pipeline and will be issued shortly.”

Understanding the process
KPMG National Head of real estate and construction, Neeraj Bansal, said that developers were not aware of what has to be done. “Many in the industry are thinking that there are certain forms which have to be filled and a law firm has to be hired to do it for them. There is much more to it before the form comes into the picture. Both for the government machinery and developers, the mammoth task is to understand the system,” explained Bansal. He added that an Act and rules have to systematically be applied which is a significant effort and for which continuous guidance is needed.

Tutorials from Naredco
In order to guide developers on how to go about the new law, Naredco chairman and DLF head, Rajeev Talwar, said that Naredco had been organising paid-for services to guide developers on how to be RERA-ready. “We need to change the mind-set for RERA to kick in,” he added.

Diligence to curb structural defects
Haryana’s Sihag further added that his was the only state that had a system in place wherein a developer used to give an undertaking to manage a project for a period of 5 years. “Structural defect has been defined explicitly in the state Act, thus, ruling out any confusion on what a structural defect is, at least in Haryana”. However, De Sa added, “Any builder worth his salt would not construct a poor building.”

KPMG’s Bansal said developers will have to work around this and create a process in a transparent manner. “Unlike in the past, they will now have to create a back-to-back warranty with suppliers in case a challenge comes up. Starting from the point of contracting to execution and finally handing over, documentation has to be clearly spelled out. Workmanship is a loose term – is it tiles, paints, electrical wiring or something else? A developer will have to clearly spell out his liabilities in a transparent manner.”

Khaitan and Co Partner, Sudip Mullick, added that for structural defect for up to 5 years, a builder can appropriately cover himself through insurance. “The concern for the builders would be workmanship or quality of services because workmanship is a vague term and the applicability of workmanship for 5 years may pose a considerable challenge to the builder.”

Make registration number a marketing tool
De Sa went a step ahead to say that consumers should demand RERA registration number from developers before booking a unit. “In fact, developers could use this number as a marketing tool to push their projects and forums such as Magicbricks, can play a crucial role in creating awareness and advertise only such projects”. Talwar added that there should be drives by RERA authorities to educate all stakeholders.

 

 

Source: economictimes.indiatimes.com

 


अब किराए के लिए आपको जीएसटी(GST) पंजीकरण करना होगा। (12 Jul 2017)

नई दिल्लीः रिहायय़ी संपत्ति से आने वाले पैसों पर जी.एस.टी. से छूट दी गई है लेकिन वाणिज्यिक उद्देश्य से किराया या पट्टे से सालाना 20 लाख रुपए से अधिक आय पर जी.एस.टी. लगेगा। राजस्व सचिव हसमुख अधिया ने कहा कि अगर आवासीय संपत्ति दुकान या कार्यालय के लिए किराया पर दिया गया है, तो 20 लाख रुपए से कम किराए पर जी.एस.टी. नहीं लगेगा लेकिन अगर किराया 20 लाख से अधिक है तो जी.एस.टी. में जरूरी होगा।

अधिया ने जी.एस.टी. मास्टर क्लास में कहा, रिहायी मकान से मिलने वाली किराया आय को छूट दी गयी है लेकिन अगर आपने अपनी इकाई वाणिज्यक उपक्रम को दी है है तब अगर आप 20 लाख रुपए से अधिक प्राप्त कर रहे हैं तब आपको कर देना होगा। जो करदाता छूट सीमा से अधिक कमा रहे हैं, उन्हें जी.एस.टी. नेटवर्क से पंजीकरण करना होगा और कर देना होगा। जी.एस.टी.एन. के मुख्य कार्यपालक अधिकारी प्रका कुमार ने कहा कि 69.32 लाख पंजीकृत् उत्पाद, सेवा कर और वैट भुगतानकर्ता जी.एस.टी.एन. पोर्टल पर चले गए हैं। पुरानी अप्रत्यक्ष कर व्यवस्था में ऐसी 80 लाख इकाइयां थी।

 

Source: www.punjabkesari.in


स्कीम हाउसिंग फॉर ऑल के तहत बिल्डरों को सस्ते मकान के लिए जमीन और पैसा देगी सरकार। (10 Jul 2017)

नई दिल्ली। मोदी सरकार अपनी महत्वाकांक्षी स्कीम हाउसिंग फॉर ऑल को सफल बनाने के लिए प्राइवेट डवलपर्स के साथ पब्लिक प्राइवेट पार्टनरशिप (पीपीपी) मॉडल पर सस्ते घरों के निर्माण करने की योजना बना रही है। सरकार ने इसके तहत सस्ते घर निर्माण का ड्राफ्ट मॉडल तैयार कर मिनिस्ट्री ऑफ हाउसिंग एंड अर्बन पॉवर्टी एलिवेशन (हूपा) के वेबसाइट पर अपलोड किया है और इससे जुड़े हितधारों से 30 जून तक राय मांगी है।

सरकार ने नए ड्राफ्ट रूल में प्राइवेट डवलपर्स के साथ मिलकर सस्ते घरों का निर्माण के लिए छह मॉडल बताए हैं। इसमें लैंड उपलब्ध कराने से लेकर फंडिंग तक का प्रावधान है। रियल एस्टेट एक्सपट्र्स का मानना है कि नए ड्राफ्ट में किए गए प्रावधान से देश भर में सस्ते घरों के निर्माण में तेजी आएगी जिससे 2022 तक हाउसिंग फॉर ऑल को पूरा करने में मदद मिलेगी।

उल्लेखनीय है कि अभी तक सरकर की तमाक कोशिशों और कई तरह की रियायतें देने के बावजूद प्राइवेट अफोर्डेबल हाउसिंग प्रोजेक्ट्स लॉन्च करने में प्राइवेट डवलपर्स उदासीन रवैया अपनाए हुए हैं।

क्या है प्राइवेट लैंड पर पीपीपी मॉडल ?

इस मॉडल के तहत प्राइवेट डेवलपर्स को अपनी जमीन पर सस्ते घर बनाने होंगे। इसके एवज में सरकार स्टेट सब्सिडी, स्टाम्प ड्यूटी पर छूट, डेवलपमेंट चार्ज पर छूट, एफएआर में इजाफा आदि देगी।

प्रोजेक्ट की होगी मॉनिटरिंग

सरकार ईडब्लयूएस हाउसिंग यूनिट बनाने के लिए 1.50 लाख रुपए प्रति यूनिट ग्रांट दी जाएगी, लेकिन प्रोजेक्ट के तहत बने घरों की कीमत सरकार तय करेगी और मॉनिटरिंग भी करेगी।

क्या है सरकारी जमीन पर पीपीपी मॉडल ?

इस मॉडल के तहत प्राइवेट डवलपर्स को सरकार जमीन देगी। उस जमीन पर डवलपर्स को सस्ते घर बनाने होंगे। इस मॉडल को छह कैटेगिरी में बांटा गया है।

3.14 करोड़ सस्ते घर चाहिए शहरों में 2022 तक

2.95 करोड़ घर चाहिए ग्रामीण एरिया में

ये हैं छह मॉडल

मॉडल 1 सरकारी भूमि पर सब्सिडाइज्ड हाउसिंग : इस मॉडल के तहत डवलपर्स को सरकार जमीन उपलब्ध कराएगी।

मॉडल 2 मिश्रित विकास क्रॉस-सब्सिडाइज्ड हाउसिंग :

इस मॉडल में सस्ते घर के साथ डेवलपर्स को महंगे घर का निर्माण व सेल की अनुमति होगी।

मॉडल 3 एन्युटी आधारित सब्सिडाइज्ड हाउसिंग : इस मॉडल में सरकार डवलपर को 20 साल तक एन्युटि देगी।

मॉडल 4 एन्यूटी कम कैपिटल ग्रांट सब्सिडाइज्ड हाउसिंग : इस मॉडल में सरकार डवलपर को कंसट्रक्शन के समय 50 फीसदी व शेष रकम अगले 15 से 20 साल में देगी।

मॉडल 5 डायरेक्ट रिलेशनशिप ऑनरशिप हाउसिंग : इस मॉडल में सरकारी जमीन पर सस्ते घरों का निर्माण कर बेचेगा।

मॉडल 6 : डायरेक्टर रिलेशनशिप रेंटल हाउसिंग : इस मॉडल के तहत डवलपर रेंटल हाउसिंग बनाएगा।

Source: www.patrika.com


यदि आप किराए पर अपना घर देने की योजना बना रहे हैं तो इस खबर को सावधानीपूर्वक पढ़ें। (06 Jul 2017)

नई दिल्लीः यदि आप किराए पर घर या लीज़ में सौदा देते हैं तो आपको इन बातों को ध्यान में रखना चाहिए जो कि आपको किसी भी प्रकार की धोखाधड़ी से बचाने में मदद करेगा। किराए पर अपना फ्लैट देने वाले लोगों को हमेशा यह डर होता है कि किराएदार कहीं घर हड़प न ले। कई लोग अपना घर खाली रहने देते हैं लेकिन किसी को किराए पर नहीं देना चाहते हैं। वैसे तो किराएदार और मकान मालिक के बीच का झगड़ा कोई नई बात नहीं है। लेकिन घर के लिए रेंट एग्रीमेंट करने से पहले कुछ बातों का ध्यान देना किराएदार और मकान मालिक दोनों के लिए जरुरी है।

2 तरह के होते हैं एग्रीमेंट

मकान मालिक और किराएदार के बीच दो तरह के एग्रीमेंट होते हैं। पहला, लीव एंड लाइसेंस एग्रीमेंट और दूसरा रेंट एग्रीमेंट। लीव एंड लाइसेंस एग्रीमेंट में मकान मालिक को किराएदार की मर्जी के बगैर घर में दाखिल होने का पूरा अधिकार होता है। ऐसी हालत में किराएदार के पास कुछ भी कहने का हक नहीं है। वहीं, रेंट एग्रीमेंट में मकान मालिक अपने किराएदार को एक तय समय के लिए तय कीमत में घर का पूरा अधिकार देता है। यानी जितने दिनों के रेंट एग्रीमेंट है उस फ्लैट पर किराएदार का हक होगा।

मकान मालिक के पास भी चाबी

रेंट अग्रीमेंट के इलावा लीव ऐंड लाइसेंस एग्रीमेंट में प्रॉपर्टी के अहाते का अधिकार किराएदार के पक्ष में नहीं होता है। पजेशन दिखाने के लिए कॉन्ट्रैक्ट में अडिशनल लाइन जोड़ी जाती है कि मकान मालिक के पास भी घर की चाबियां रहेंगी ।

नोटिस पीरियड

मकान मालिक या किराएदार में जो भी लीज एग्रीमेंट को खत्म करना चाहता है, उसे दूसरे को नोटिस देना पड़ता है। नोटिस पीरियड खत्म होने के बाद ही लीज एग्रीमेंट भी खत्म हो सकता है जबकि लीव ऐंड लाइसेंस एग्रीमेंट में कोई नोटिस पीरियड की जरूरत नहीं होती है।

इन बातों का रखें ध्यान

लीव एंड लाइसेंस एग्रीमेंट में यह साफ-साफ लिखना जरूरी है कि एग्रीमेंट किसके-किसके बीच हो रहा है। इसकी जरूरत रेंट एग्रीमेंट में नहीं होती है। जब इस तरह का करार होता है तो उसमें किसी खास व्यक्ति का नाम लिखने के बजाय लाइसेंसर और लाइसेंसी लिख सकते हैं। इसमें करार किसी खास शख्स के बजाय मकान मालिक और किराएदार के बीच होगा। अगर किसी किराएदार का नाम लिख देंगे तो वह उस खास शख्स के लिए ही होगा।

Source: www.punjabkesari.in


DDA आवास योजना 2017 हुआ लॉन्च, आज से कर सकते हैं आवेदन । (01 Jul 2017)

डीडीए की हाउजिंग स्कीम-2017 शुक्रवार को लॉन्च हो गई है। इस बार स्कीम में 12,072 फ्लैट्स हैं। स्कीम में आवेदन करने वाले फॉर्म में एक और कॉलम आधार का जोड़ा गया है, लेकिन यह साफ किया गया है कि आधार जरूरी नहीं है। स्कीम के लिए सबसे अधिक 4,349 फ्लैट रोहिणी सेक्टर-34 और 35 में हैं। स्कीम में 87 फ्लैट एचआईजी के भी रखे गए हैं। इनमें 20-20 फ्लैट वसंतकुंज और द्वारका में हैं। फॉर्म को डीडीए की बेवसाइट से ऑनलाइन डाउनलोड और जमा किया जा सकता है।

फॉर्म की कीमत
डीडीए सूत्रों ने बताया कि इसके लिए पहले चरण में पांच लाख ब्रोशर छपवाए जा रहे हैं। इस बार फॉर्म में लगे ब्रोशर की कीमत 200 रुपये रखी गई है। पुरानी हाउजिंग स्कीम-2014 में इसकी कीमत 150 रुपये रखी गई थी। इसमें तमाम टैक्स शामिल कर लिए गए हैं। डीडीए को उम्मीद है कि इस बार उनकी स्कीम के लिए 10 लाख से अधिक आवेदन आएंगे। पिछली बार करीब 20 लाख आवेदन फॉर्म भरे गए थे। फ्लैट लेने की चाह रखने वालों के लिए इस बार ब्रोशर में ही फ्लैट का इंटरनल डिजाइन भी छापा गया है। उसमें बताया गया है कि आपके फ्लैट में कितनी जगह में किचन, बेडरूम या टॉइलट और ड्रॉइिंग रूम आदि है।

कहां कितने फ्लैट
12,072 फ्लैटों की इस स्कीम में 11,197 फ्लैट एलआईजी और सिंगल बेड रूम हैं। इनमें रोहिणी सेक्टर-34 और 35 के बाद सबसे अधिक तीन हजार 612 फ्लैट नरेला-जी-2 और जी-8 में और 2,059 फ्लैट सिरसपुर में हैं। इसके अलावा 404 एमआईजी हैं। इनमें 331 फ्लैट नरेला पॉकेट-ए9 में हैं। एचआईजी फ्लैटों की कुल संख्या 87 और 384 जनता फ्लैट हैं।

11 अगस्त तक कर सकेंगे आवेदन
स्कीम के लिए आवेदन करने की अंतिम तारीख 11 अगस्त है। इस दौरान बैंकों और डीडीए के चुनिंदा ऑफिसों से फॉर्म लिए जा सकेंगे। पहले स्कीम में 10 बैंक शामिल हो रहे थे, लेकिन अब दो बैंकों ने अपने हाथ पीछे खींच लिए हैं। इसमें एक बैंक ने तर्क दिया है कि उसका सॉफ्टवेयर पुराना है तो एक बैंक ने एंप्लॉयीज कम होने की बात कही है।

सूत्रों ने बताया है कि आवेदन करते वक्त आवेदनकर्ता को कोई दस्तावेज जमा नहीं करने होंगे। बस उन्हें फॉर्म भरके जमा करना होगा। इसके बाद अगर उनका नाम ड्रॉ में निकल जाता है तो फिर फॉर्म में किए गए दावों के लिए दस्तावेज लिए जाएंगे। फॉर्म में जो भी नाम लिखा जाएगा वह पैन कार्ड वाला होना चाहिए।

कौन कर सकता है अप्लाई
- देश का कोई भी नागरिक जिसकी उम्र 18 साल या उससे अधिक है वह ऑनलाइन या ऑफलाइन तरह से आवेदन कर सकता है।
- आवेदनकर्ता का दिल्ली में कोई प्लॉट या फ्लैट न हो। साथ ही अविवाहित संतान के नाम भी कोई फ्लैट न हो।
- एक व्यक्ति एक ही ऐप्लिकेशन भर सकता है।
- पति और पत्नी दोनों लोग अप्लाइ कर सकते हैं लेकिन दोनों को फ्लैट मिलने की स्थिति में एक ही फ्लैट मिलेगा।

Source: navbharattimes.indiatimes.com


Green Signal to Jewer International Airport by government, Flights to be on runway by 2022. (28 Jun 2017)

New Delhi:   Government has made the decision in favor of Green Field Airport in Jewer located in Greater Noida and the flights will be on runway within next few years. With the arrival of Jewer international airport greater Noida will boom in with various factors and the burden on IGI Airport will be reduced.
Civil Aviation Minister Ashok Gajapathi Raju said at a press briefing that "in-principle clearance has been granted" for the airport.
"The Yamuna Expressway Industrial Development Authority has notified 3,000 hectares of land for a world-class international airport," Raju added.

"Noida International Airport will cater to 30-50 million passengers per year over the next 10-15 years," Raju tweeted. The airport will help reduce congestion at the Delhi international airport.

Of the total land, 1,000 hectares will be acquired under the first phase of airport development, which will cost Rs 2,000 crore.

The government expects the entire project to cost Rs 15,000 crore to Rs 20,000 crore. The metro service in Noida is also likely to be extended up to Jewar in order to improve connectivity to the airport.

The state government, which has been pushing for this project, has also been told by the Centre to improve road conditions and provide multi-modal transport facilities, said Secretary, Ministry of Civil Aviation, R N Choubey.

The announcement of a second airport in the national capital region comes at a time when the Indira Gandhi International Airport in New Delhi grapples with an ever-increasing number of passengers.

The IGI Airport currently handles nearly 62 million passengers every year. As per its updated master plan, the passenger handling capacity will be increased to 109.33 million passengers per year in a phased manner.
However, the airport is likely to reach that figure in the next seven years, necessitating a second airport in the vicinity of the national capital, according to the government.

"Within seven years Delhi airport will see 109 million trips a year, which will saturate its capacity. For the sake of NCR and NCR's connectivity having a second airport is vitally important and that is what Noida international airport will accomplish," Minister of State for Civil Aviation Jayant Sinha said.

Senior minister Raju said that the government will honour the Operation Management and Development Agreement (OMDA) with GMR, which operates the Delhi Airport jointly with the Airports Authority of India (AAI) for Delhi airport. As per this agreement GMR will have the first right of refusal in case an airport is built within 150 kilometres of the existing one.

The capacity to handle 30-50 million passengers per year will put the Jewar airport on par with the Mumbai airport, which sees 45 million passengers per year.

Sinha added that the new airport will also provide seamless domestic and international connectivity to western UP with Noida, Agra, Mathura, Meerut, Vrindavan, Meerut, Moradabad and Bulandshahr likely to serve as the catchment area for the new aerodrome.

"Noida International Airport will become like an aerotropolis with an airport at the centre and a whole host of economic activities around it," said Sinha.

The first phase will be a reality in five to six years, which includes procurement of land, bidding it out for construction and then providing connectivity, Civil Aviation Secretary Choubey said.

He added that the representatives of the Uttar Pradesh government have assured the Centre that farmers are willing to provide the land for airport development on negotiated settlement basis.

In Lucknow, Uttar Pradesh Civil Aviation Minister Nand Gopal Nandi and health minister Siddhartnath Singh told newspersons that the upcoming airport is expected to enable Noida to become a major global electronics manufacturing cluster, with significant investments in the sector already coming in from major global players like Samsung.

Tourism to destinations such as Mathura, Vrindavan and Agra will also see a major boost, they said, adding that it is also likely to serve as major logistics hub for various manufacturing and export centers in the western part of the state.

Source: www.news18.com
 


भारतीय स्टेट बैंक(SBI) द्वारा प्रॉपर्टी की ई-नीलामी की घोषणा । (22 Jun 2017)

नई दिल्ली: भारतीय स्‍टेट बैंक (एस.बी.आई.) ने मेगा ई-नीलामी के जरिए प्रॉपर्टी की बिक्री करने की घोषणा की है। यह ई-नीलामी 23 जून को आयोजित की जाएगी। देश के सबसे बड़े इस सरकारी बैंक ने इसकी जानकारी ट्विटर पर दी है। बैंक कुल 150 प्रॉपर्टी की नीलामी करेगा, जिसमें रेजिडेंशियल, कॉमर्शियल और कृषि भूमि शामिल है। एस.बी.आई. ने अपनी वैबसाइट पर कहा है कि इन प्रॉपर्टी को हाउसिंग और बिजनेस लोन के लिए बैंक के पास गिरवी रखा गया था लेकिन कर्जदारों द्वारा बैंक से लिया गया कर्ज वापस न करने के चलते सिक्‍यूरिटी एंड रिकंस्‍ट्रक्‍शन ऑफ फाइनैंशियल असेट एंड एनफोर्समेंट ऑफ सिक्‍यूरिटी इंटरेस्‍ट (सारफेसी) कानून के तहत इन गिरवी रखी गई प्रॉपर्टी पर अब बैंक का अधिकार है। नीलामी के लिए रखी गई प्रॉपर्टी की पूरी लिस्‍ट www.bankeauctions.com/sbi पर देखी जा सकती है।

ई-नीलामी में भाग लेने की शर्तें
' हर प्रॉपर्टी के लिए ईएमडी का उल्‍लेख ई-नीलामी के नोटिस में किया गया है।
' केवाईसी दस्‍तावेज संबंधित ब्रांच में जमा कराने होंगे।
' डिजिटल सिग्‍नेचर: बोलीदाता ई-नीलामीकर्ता या अन्‍य किसी अधिकृत एजेंसी से डिजिटल सिग्‍नेचर हासिल कर सकता है।
' ई-नीलामीकर्ता द्वारा बोलीदाता को लोगिन आईडी और पासवर्ड ई-मेल के जरिये भेजे जाएंगे लेकिन इससे पहले संबंधित ब्रांच में ईएमडी और दस्‍तावेज जमा कराना अनिवार्य होगा।
' बोलीदाता ई-नीलामी पोर्टल पर लोगिन कर नीलामी के दिन अपनी बोली लगा सकता है।

होम लोन के ब्‍याज में हुई कटौती
एस.बी.आई. ने पिछले महीने होम लोन पर ब्‍याज दर में कटौती कर बड़ी राहत दी है। एस.बी.आई. 8.35 प्रतिशत की ब्‍याज दर पर 30 लाख रुपए तक का होम लोन ऑफर कर रहा है। एस.बी.आई. का यह कदम सरकार के अफोर्डेबल हाउसिंग को बढ़ावा देने के अनुरूप है।

भारतीय स्‍टेट बैंक के योग्‍य होमलोन ग्राहक प्रधानमंत्री आवास योजना के तहत 2.67 लाख रुपए की इंटरेस्‍ट सब्सिडी भी हासिल कर सकते हैं। यह एक सरकारी स्‍कीम है, जिसमें निम्‍न और मध्‍यम आय वर्ग के लोगों को सब्सिडाइज्‍ड होमलोन उपलब्‍ध कराया जाता है। अन्‍य बैंकों के ग्राहक भी अपना मौजूदा होमलोन एस.बी.आई. में बिना किसी प्रोसेसिंग फीस के ट्रांसफर करवा सकते हैं।

 

Source: www.punjabkesari.in


जी.एस.टी. की वजह से तैयार किए फ्लैट्स हो जाएंगे मंहगे । (19 Jun 2017)

नई दिल्लीः  भारतीय बाजार में जीएसटी बिल का उदय विभिन्न चीजों और सेवाओं को प्रभावित कर रहा है। इसके साथ ही रियल एस्टेट बाजार में बिल्डरों और ग्राहकों की समस्या हर रोज बढ़ रही है। अगर आप अपने फ्लैट के लिए बिल्डर को किस्तों में पैसे भर रहे हैं तो 1 जुलाई के बाद से आपको 12% जी.एस.टी. देना पड़ सकता है। अभी आप 4.5% का सर्विस टैक्स भरते हैं लेकिन जी.एस.टी. के बाद यह दर 12 प्रतिशत हो जाएगी। इसी तरह से अगर आप 1 जुलाई के बाद किसी ऐसे प्रॉजेक्ट में घर खरीदते हैं जो पूरा हो चुका है या होने के करीब है तो भी आपको 12 प्रतिशत जी.एस.टी. चुकाना होगा। 

 

RERA से पूरे महाराष्ट्र में सुस्त पड़ी नए प्रॉजेक्ट्स की लॉचिंग
बिल्डर्स का दावा है कि जीएसटी के बाद लगने वाले टैक्स पर 7.5 प्रतिशत (4.5 से 12%) बढ़ाने का कारण यह है कि वह जीएसटी लागू होने से पहले भरे गए टैक्सों से क्रेडिट क्लेम नहीं कर पाएंगे। ऐसे प्रॉजेक्ट्स जो पूरे हो चुके हैं या होने वाले हैं, अधिकतर खरीददार उसका 90 से 95 प्रतिशत हिस्सा दे चुके हैं।

ऐसे मामलों में भारी टैक्स का बोझ बचे हुए 5 से 10 प्रतिशत अमाउंट पर पड़ेगा। 1 जुलाई के बाद बिल्डर द्वारा जारी किसी भी इनवॉइस पर 12 प्रतिशत टैक्स लगेगा। कई डिवेलपर्स पहले ही बायर्स को बचे हुए अमाउंट पर ज्यादा टैक्स देने का नोटिस भेज चुके हैं।

Source : www.punjabkesari.in


डी.डी.ए हाऊसिंग में करीब 12 हजार फ्लैट्स, जानिए क्या होगी कीमत? (17 Jun 2017)

नई दिल्लीः डी.डी.ए. की जल्द लांच होने वाली हाऊसिंग स्कीम 2017 में करीब 12 हजार फ्लैट्स होंगे। इनमें सबसे सस्ते फ्लैट की कीमत साढ़े सात लाख रुपए होगी और सबसे महंगा फ्लैट 1.45 करोड़ रुपए का होगा। इनमें सबसे अधिक 11 हजार एल.आई.जी. फ्लैट होंगे।

12 हजार के करीब हैं फ्लैट्स की संख्या
हाऊसिंग स्कीम के लिए जो फ्लैट तय किए गए हैं, उनकी संख्या 11 हजार 899 है। इनमें सबसे अधिक 11 हजार एल.आई.जी., 444 जनता फ्लैट, 375 एम.आई.जी. जबकि 80 एच.आई.जी. फ्लैट हैं। सभी फ्लैटों को प्रधानमंत्री आवास योजना से जोड़ा गया है। इतने फ्लैटों के लिए आवदेन करनेवाला अगर पी.एम. आवास योजना का लाभ लेना चाहेगा तो वह इसके लिए आवेदन कर सकेगा।

ये होंगी कीमतें
सिंगल रूम एल.आई.जी. फ्लैट की कीमत 14.50 लाख रुपए से शुरू होकर 16 लाख रुपए तक है। इनमें से कुछ फ्लैट 30 लाख रुपए तक की कीमत वाले भी हैं। जनता फ्लैटों की कीमत 7.50 लाख रुपए से शुरू होकर 12.50 लाख रुपए तक की होगी। इसी तरह एम.आई.जी. फ्लैटों की कीमतें 31 लाख से 50 लाख रुपए तक होगी। कुछ फ्लैट 93 लाख रुपए तक के होंगे। अधिकतर एच.आई.जी. फ्लैटों की कीमत 53 लााख से 80 लाख रुपए के बीच होगी। इनमें कुछ फ्लैट 1 करोड़ 45 लाख रुपए तक के भी होंगे। इन तमाम फ्लैटों के एरिया में सबसे छोटा फ्लैट 18.80 स्क्वायर मीटर और सबसे बड़ा फ्लैट 156.61 स्क्वायर मीटर का होगा। 

 

Source :  www.punjabkesari..in


Karun Varma is appointed as DLF’s executive director to lead its north India business. (15 Jun 2017)

DLF has handed over the command of its north India business to Karun Varma by giving him the responsibility of executive director.
Varma will be responsible for leasing business, tenant relationships and building management services for DLF’s office assets in north India.

“Karun's rich experience and extensive network will further enhance offices portfolio of DLF in northern India, which he shall lead," said Sriram Khattar, MD, DLF Rental Business.

DLF is in the process to sell its 40% stake in rental business to Singapore's sovereign wealth fund GIC for about Rs 13,000 crore. With this company's net profit has been doubled to Rs 694.17 crore in financial year 2016-2017, against Rs 331.95 crore in the previous year. However, its net sales bookings fell sharply by 63% to Rs 1,160 crore during the last financial year due to demand slowdown in the property market.

DLF expects that its total rental income will to rise by 12% to about Rs 2,900 crore in financial year 2017-2018 on better realization from existing commercial assets and addition of new properties in Chennai and Delhi, the company recently said in an analyst call.

It earned a rental income of around Rs 2,600 crore last financial year.

Karun Varma, said, “Commercial office market is a bright spot for real estate sector. With the support of DLF team, I look forward to enhancing the ‘DLF Experience’ by contributing to the company’s vision of sustained growth, customer satisfaction, and innovation.“

 

Source: www. economictimes.indiatimes.com


Real Estate Developers in Maharashtra must get their projects registered under MahaRERA before July 31 as per CM’s instructions. (13 Jun 2017)

CM Devendra Fadnavis reiterated in Maharashtra that there will be no extension for registration of ongoing projects beyond July 31 under Real Estate Regulatory Authority (RERA). “As far as the appointed date for registration is concerned, I fully endorse the view of Maharashtra RERA (MahaRERA) chairman, Gautam Chatterjee,” the chief minister said, while addressing builders and developers at a conference here. Real estate developers were given a 90-day window to register their new and ongoing projects with RERA, which ends on July 31. Chatterjee had recently said that no extension would be given for registration of ongoing real estate projects beyond July 31.  “Ultimately at some point we have to register. I am of the view why tomorrow, why not today? So, get registered on the appointed date and I believe things will be smooth,” Fadnavis explained. He assured industry members that the government will be lenient for one or two years. “The authority and the government will be absolutely lenient for one or two years. On mere technical grounds, we will not allow anybody to be harassed,” he said. The chief minister said if required, say after six months if there are some practical problems, the government will look into the rules again and take care of it.

While the present operations of RERA authority will be from Mumbai, Chatterjee assured that Pune and Nagpur offices will be opened soon so that people can have their cases addressed in the same city as there is no limit on the number of offices for implementing MahaRERA. He expressed satisfaction on the implementation of RERA in the state as against other states which, he said, were lagging far behind.

“In a year’s time, the ball will be rolling smoothly,” he reiterated.  Juxtaposing RERA with the demonetization exercise, the chief minister said that RERA was announced well in advance compared to demonetization which was an overnight directive. Despite struggles, people understood the importance, he pointed out. “People fear the unknown. If we survived demonetization, what is RERA?,” he said. Speaking about the impact on business, Fadnavis explained that the government will ensure a secure and positive business environment. “Unless we give proper flexibility to the businesses they won’t flourish. Real estate is one sector which plays a major role in the economy of Mumbai and Maharashtra,” he said.

“Under MahaRERA, we will ensure all questions will be answered, and businesses will not feel any impediment,” he added. On GST, he assured the industry that the government will facilitate the smooth transition.
“Government is not an inspector but a facilitator. In that role, I assure you in one year there will be no problems left. GST regime will be working better than VAT,” he said.

Source: www.financialexpress.com


RERA रूल तोड़ने पर महाराष्ट्र में जारी हुआ पहला नोटिस (07 Jun 2017)

महाराष्ट्र रियल एस्टेट रेग्युलेटरी अथॉरिटी (RERA) ने रियल एस्टेट (रेग्युलेशन ऐंड डिवेलपमेंट) ऐक्ट 2016 के प्रावधानों और उसके तहत बने राज्य के नियमों का उल्लंघन करने के मामले में पहला कारण बताओ नोटिस जारी किया है। यह नोटिस एक प्रॉपर्टी ब्रोकर को जारी किया गया है। मुंबई के प्रॉपर्टी ब्रोकर साई एस्टेट कंसल्टेंट्स को नोटिस ऐसे कई रेजिडेंशल प्रॉजेक्ट्स के लिए ऐड करने की वजह से जारी किया गया जो महाराष्ट्र रियल एस्टेट रेग्युलेटरी अथॉरिटी (महाराष्ट्र-आरईआरए) के तहत पंजीकृत नहीं हैं। ब्रोकर अथॉरिटी के पास पहले से ही रजिस्टर्ड है लेकिन ऐक्ट के हिसाब से ब्रोकरों को सेल या ऐड की ऐक्टिविटी सिर्फ रजिस्टर्ड प्रॉजेक्ट्स में ही करने की इजाजत है।

महाराष्ट्र-आरईआरए के चेयरपर्सन गौतम चटर्जी ने बताया, 'चालू प्रॉजेक्ट्स के लिए 90 दिन का ऐड और सेल विंडो होता है, साथ ही उसको संबंधित अथॉरिटीज के पास रजिस्टर्ड होना पड़ता है। अगर ब्रोकर इस पीरियड में रजिस्टर्ड होता है तो वह नियमों के हिसाब से उन्हीं प्रॉजेक्ट्स में सेल कर सकता है जो रजिस्टर्ड होंगे। ब्रोकर ने संबंधित कानून के सेक्शन 9, 10 और रजिस्ट्रेशन रेग्युलेशन के रूल 14 का उल्लंघन किया है।'

ब्रोकर ने नोटिस मिलने की बात की पुष्टि की है। उसने अथॉरिटी को नोटिस का जवाब पहले ही भेज दिया है। महाराष्ट्र में रियल एस्टेट रेग्युलेटरी अथॉरिटी (RERA) ऐक्ट लागू होने के बाद कुल 22 रियल एस्टेट प्रॉजेक्ट और 1100 से ज्यादा प्रॉपर्टी ब्रोकर्स ने इसके तहत रजिस्ट्रेशन कराया है। केंद्र सरकार ने रियल एस्टेट (रेग्युलेशन ऐंड डिवेलपमेंट) ऐक्ट 2016 लागू किया है और इसके सभी सेक्शन इस साल 1 मई से प्रभावी हो गए हैं। महाराष्ट्र ऐक्ट के तहत फटाफट अपने रूल्स का नोटिफिकेशन जारी करने वाले राज्यों में एक था। उसने अपने यहां महाराष्ट्र-आरईआरए लागू किया है।

लगभग 100 प्रस्तावकों ने रजिस्ट्रेशन के लिए अपने प्रॉजेक्ट्स के डीटेल तो दिए हैं लेकिन उन्होंने पेमेंट और सबमिशन का अंतिम चरण पूरा नहीं किया है। रेग्युलेटर को उम्मीद है कि रजिस्ट्रेशन प्रोसेस जल्द जोर पकड़ेगा और 15 जून तक बड़ी संख्या में परियोजनाओं का रजिस्ट्रेशन हो जाएगा।

SOURCE: www.punjabkesari.in


नॉर्थ दिल्ली के लोगों को प्रॉपर्टी की ओनरशिप चेंज कराना पड़ेगा महंगा l (03 Jun 2017)

नॉर्थ दिल्ली में रहने वाले लोगों के लिए एक बुरी खबर है क्योंकि नॉर्थ एम.सी.डी. ने म्यूटेशन फीस 10 गुना बढ़ाने का प्लान बनाया है। जिसके तहत लोगों को प्रॉपर्टी की ओनरशिप चेंज कराना महंगा पड़ेगा। अफसरों का कहना है कि म्यूटेशन फीस 150 रुपए से बढ़ाकर 1500 रुपए किया जाएगा। जिन लोगों को म्यूटेशन सर्विस का लाभ हफ्ते भर में लेना है, उनके लिए तत्काल सर्विस भी लागू किया जाएगा।

देनी होगी इतनी फीस
अफसरों का कहना है कि आज के हलात को देखते हुए म्यूटेशन फीस 1500 रुपए प्रति केस करने का फैसला किया गया है। इसके अलावा जिन लोगों को म्यूटेशन सर्विस तत्काल चाहिए, उन्हें समान्य फीस की तुलना में और अधिक फीस देना होगा। ऐसे मामलों में तत्काल सर्विस के लिए लोगों को 2000 रुपये म्यूटेशन फीस देना होगा।

इसलिए बढ़ाए गए रेट
नॉर्थ एम.सी.डी. के एक सीनियर अफसर के अनुसार एम.सी.डी. एक्ट 1957 में बनाया गया था। उस दौरान म्यूटेशन फीस 150 रुपए तय किया गया। इसके बाद फीस में बढ़ौतरी ही नहीं की गई। अफसरों का तर्क है कि 59 सालों में काफी कुछ बदलाव आया है। प्रॉपर्टी के रेट बढ़ गए हैं। प्रॉपर्टी टैक्स कैलकुलेशन रेट यूनिट एरिया से बदलकर कवर्ड एरिया के अनुसार कर दिया गया है। लेकिन, म्यूटेशन फीस में कोई बदलाव नहीं किया गया। इसलिए म्यूटेशन फीस में बढ़ौतरी का प्लान बनाया गया है।

SOURCE:www.punjabkesari.in


Benami Transactions Bill : Government Unearths 400 Transactions (26 May 2017)

The Benami Transactions (Prohibition) Amendment Bill, 2015 was introduced in Lok Sabha on May 13, 2015. The Bill seeks to amend the Benami Transactions Act, 1988. The Act prohibits benami transactions and provides for confiscating benami properties.

The Bill seeks to: (i) amend the definition of benami transactions, (ii) establish adjudicating authorities and an Appellate Tribunal to deal with benami transactions, and (iii) specify the penalty for entering into benami transactions.

It may have taken the government over 28 years to implement the Benami transactions law — with the passage of an amendment Bill, the Benami Transactions (Prohibition) Amendment Act, 2016, came into force on November 1, while the legislation was first enacted in 1988. However, the Centre is in no mood to waste any time as it goes after nabbing the culprits in fast-forward mode.

Results have begun to show within days of the Central Board of Direct Taxes (CBDT) setting up 24 Benami Prohibition Units (BPUs) to crack the whip on the unaccounted transaction.

According to an official release, the Income-Tax Directorates of Investigation have identified more than 400 Benami transactions up to May 23, 2017. These include deposits in bank accounts, plots of land, flat and Jewellery.

“Immovable properties have been attached in 40 cases, with a total value of more than Rs 530 crore in Kolkata, Mumbai, Delhi, Gujarat, Rajasthan and Madhya Pradesh,” the department told Press Trust of India. According to the report, premises of 10 senior government officials were raided in the past one month to unearth black money earned through corrupt practices and introduce accountability and probity in public life.

Earlier, the Prime Minister Narendra Modi-led government had pledged to strictly implement the Benami Transactions (Prohibition) Act, 1988, to curb corruption. 

The Law

For the uninitiated, the Persian term Benami stands for a proxy. Investing in an asset using another person as a proxy is known as Benami transaction. Benami property includes movable and immovable, tangible and intangible, corporeal and incorporeal assets. Land being one of the most valuable assets, most park their money in property using a proxy to save taxes. Benami transactions also lead to sharp rise in property prices, making it unaffordable for an average India.

Under the provisions of the law, a Benami property could be attached and subsequently confiscation. Apart from that, a jail term of up to seven years can be imposed on a benamidar or the beneficiary. That is not all. A beneficiary might also have to pay as much as 25 per cent of the market value of the property as fine. There are also provisions for punishing the abettor --- a rigorous imprisonment of six months to seven years for providing false information. An abettor will also be liable to pay 10 per cent of the market value of the property as fine.

The guilty will be punished and justice will be met. But, the confiscated properties could be put to better use if the government goes ahead with a recommendation made by top-level bureaucrats. A group of senior bureaucrats had earlier suggested confiscated properties be used to build affordable houses for the poor. At a time when the government is working towards meeting the ambitious target of providing housing for all by 2022, this is an option worth trying.


GST Effect on Real Estate: Relief for home buyers as flats prices may drop. (24 May 2017)

Implementation of goods and services tax (GST) after the approval from central government has impacted different sectors in both positive and negative direction. Following this housing price are likely to drop by up to 5% after the Centre and states decided to peg the levy at 12% on finished houses or apartments.
 

The net price of houses in the affordable segment, which cost up to Rs 30 lakh (at Rs 3,500 per sq ft of built-up area) should fall by 5%. Once GST kicks in, home buyers will not have to pay the 4.5% service tax on the final price that they shell out while taking possession.

As a result, tax consultants and realtors said that fixing the GST rate at 12% was a customer-friendly move and would lead to either lower tax liability or be tax neutral.

After allowing for credit for taxes paid on inputs such as cement, steel, paints and other items, the actual burden will be lower. As a result, the price of a Rs 1-crore apartment may come down by Rs 3-5 lakh, said a consultant.
For a premium product, however, Credai chairman and CMD of ATS Infrastructure Geetambar Anand said that at 12% GST, customers will benefit from projects that cost up to Rs 6,000 per sq ft.

A premium project may not gain significantly as developers build high margins into such properties. Manoj Gaur, Credai  vice president and MD of Gaursons, said that if input credits are allowed properly, the 12% GST rate is favorable to buyers.

Suresh N Rohira, partner, Grant Thornton India, said that GST at 12% would certainly bring down the tax liability in the affordable segment. He said that the taxes on inputs for construction are more than 12% of the final price.
 

But if a developer is working with a high margin, which is the case in premium project, the net tax will remain significant. Priyajit Ghosh, partner - indirect tax, KPMG India, said that under the GST regime, 12% GST on construction sector would make the sector better off. Because of input credit, the net tax on finished product would have a downward pressure.

According to a Crisil report, at present, a developer pays excise tax and VAT on inputs like cement and steel at 27.7% and 18.1% respectively, which vary from state to state. Now, cement and steel will be taxed at 28% and 18% respectively under GST.

Similarly, other inputs like paints and white goods are going to be taxed at 28%. But the final product that is a housing unit will be taxed at 12%, with the allowance of credit against taxes paid on inputs. But as 12% tax will be levied on entire cost including the land, the amount will be sufficient enough to provide for the input credit, said Ghosh.

He said that 12% tax rate is favorable to the industry. For normal houses (up to Rs 6,000 per sq ft), 12% GST on a finished house or an apartment will be effectively reduced to near zero as the developer will take the credit for taxes he paid on inputs. At the same time, the buyer will not have to pay the service tax4.5% of the price of the house.

This will reduce the cost of acquisition of the house. In some cases, even input credit could be more than the GST levied on the finished product, but a developer can claim a maximum credit to the extent of the GST he would be paying on the finished product.

Take a simple example: A developer is completing a housing project where the work has been awarded to a contractor. The cost of construction is around Rs 2,000 per sq ft, the going rate in the market for average quality. The contractor will collect a tax at 18% on the amount at which he is completing the work.

In this case, he will collect a tax of Rs 360 on Rs 2,000 per sq ft from the developer. If the developer sells the house at Rs 3,000 per sq ft built-up area, which is the going rate for the affordable segment housing, he will pay a tax at 12 % on the final cost. In this case, it will be also Rs 360 per sq feet.

Therefore, his fresh tax liability would be nil. If other expenses and tax paid thereon is included, the developer could have claimed more. But under GST, he can claim only up to the fresh tax liability. But the service tax that a buyer pays so far at the rate of 4.5% will not be levied now. So the next cost for buyers of not-so-premium houses will decline. But if the product is in the premium segment, the entire input tax credit is not sufficient to bring down the fresh tax liability to nil.

A premium construction can be done at Rs 5,000 per sq ft. The net tax collected by works contractor would be Rs 900 per sq ft from the developer. But while selling at Rs 10,000 per sq ft, the developer needs to pay Rs 1,200 per sq ft. Therefore, after adjusting against the taxes on input, he will have to pay Rs 300 per sq ft or 3%, which he will recover from the customer. But as the developer will also pay taxes on other expenditures, the net tax liability at 12% GST on finished product would be very small.

SOURCE: economictimes.indiatimes.com


8,000 home registries to be ensured by Greater Noida Development body in 6 months. (20 May 2017)

The Greater Noida Authority on Friday said that it was pulling out all the stops to fast-track the handover of the maximum number of residential units to homebuyers in Noida Extension (now known as Greater Noida West).

In the past two months alone, four developers with more than 5,500 residential units have procured completion certificates for their group housing projects. Four more developers have been given timelines to get completion certificates starting next week, officials said.
 

While 6,000 registries of homes, mainly of the Gaur group, have already been completed in the past six months, GNIDA is getting ready to complete registries of another 8,000 homes in Noida Extension in the next six months.

Janardan, additional CEO, GNIDA, said the issue of pending completion certificates led to harassment of buyers, who have been running from pillar to post to procure possession of their homes. “In the past two months, we have completed the process of completion for four projects including Mahagun Mywoods (1,802 units), Palm Olympia (1,672 units), Eros Sampoornam (1,798 units) and Galaxy Vega (400 units),” the ACEO said, adding, “Registries for these housing projects will start soon, following which possession will be handed over.”

Janardan said many developers have also deposited their outstanding dues. “Since November 1, 2016, to date, we have collected Rs 607 Crore from builders,” Janardan said.

“For 634 units in Supertech Eco-Village-3, the process for completion will commence on Monday. The process for Supertech’s Eco-Village 1 and 2 is also already under way for about 1,500 units. Also on the anvil is completion for 300 units of Panchseel Greens-2, while those of Shree group and Vedantam are in the pipeline,” he said.

GNIDA,additional CEO, said that with this move GNIDA would be able to reschedule about Rs 100 crore till 2020-2023 besides addressing the roadblock being faced by builders in starting construction and in obtaining their completion certificates. “Eleven more builders are in the pipeline for the rescheduled payment plan. The aim is to fast-track handing over of residential units to homebuyers,” he said.

SOURCE : economictimes.indiatimes.com


Land pooling: Delhi Government declares 89 Villages as Urban Areas (19 May 2017)

Delhi government has declared 89 villages as urban areas which will help the authorities develop infrastructure projects in those localities. The Urban Development Department of the Delhi government issued a notification in this regard yesterday, after Lt Governor Anil Baijal approved the Delhi DevelopmentAuthority's(DDA),Land-PoolingPolicy(LPP).

The policy was stuck for around two years. After the approval of the LPP for the 89 villages, the Delhi government won't need to buy land from the DDA for developing facilities such as electrical sub-stations, stadiums, industrial areas, old-age homes, hostels, schools, etc.

Sultanpur Dabas, Bazidpur Takran, Mukhmelpur, Neb Sarai, Baprola, Bakkarwala, Goela Khurd, Neelwal, Salahpur Majra are among the villages which have been declared as urban areas by the AAP government.

The LPP is aimed at getting individuals or a group of land-owners - living in urban villages on Delhi's periphery - to pool their land and hand it over to the DDA. The DDA will develop public infrastructure like roads on part of the pooled land and return a substantial portion of the plot to the owner. The returned portion of the land will have its value increased due to the development of infrastructure nearby. The policy's implementation assumes significance as the DDA's Master Plan Delhi (MPD) 2021 proposes construction of 25 lakh housing units by 2021 for which 10,000 hectares of land will be required.

As per DDA estimates, 2.5 lakh houses, including 50,000 EWS (Economically Weaker Sections) units, will require 1,000 hectare of land. Providing relief to small farmers, self-penalty on DDA for delays, and flexibility to farmers to trade their land or tie up with developers for land-pooling are some of the important features of the policy.

 

Welcoming the move, BJP MLA and Opposition Leader in the Delhi Assembly, Vijender Gupta said the "historical" move would accelerate the process of providing affordable housing to 20 lakh families.

"It would fill up Delhi's infrastructural deficit that has led to cropping up of unauthorized colonies. The notification comes due to direct cognizance taken by the Delhi L-G," Gupta said.

SOURCE: timesofindia.indiatimes.com


CBDT’s Draft Income Calculation Norms For Real Estate (18 May 2017)

The revenue deparment has released a draft last week for computation of income for the real estate sector, under which transactions with regard to sale and purchase of units will be recognized at arm’s length price.
The proposed Income Computation and Disclosure Standards (ICDS) for Real Estate Transactions, which follows the guidance note of Institute of Chartered Accountants of India (ICAI), is aimed at providing "uniformity, certainty and harmonizing the norms with the provision of the Income Tax Act".

The draft includes implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA).As per the draft, the revenue and cost will be recognized with reference to the stage of completion of the project, which too has been defined. The norms will apply for determination of income from all form of transactions in the real estate with respect to land, buildings and rights therein.

The ICDS deals with sale of plots of land with or without development of common facilities, development and sale of residential and commercial units, transfer of development rights, and re-development of existing buildings and structures.

The Central Board of Direct Taxes (CBDT) has invited comments from stakeholders on the draft till May 26. The draft defines fair values as "the amount for which an asset could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arm's length transaction". "Most of the deviations from the ICAI's guidance note will have the effect of accelerating revenue recognition for tax purposes.

"Specifically, the change requiring recording Transferable Development Rights (TDRs) at fair value will create tax incidence on unrealized revenues," said Abhishek Goenka, Partner PwC.

While the guidance suggested that TDRs should be recorded at fair market value or net book value, the ICDS proposes that they should be calculated at the fair value of the development rights acquired. Goenka also said that with the advent of RERA, "removal of the critical approvals test for revenue recognition is a logical step".

Commenting on the draft, JLLR Chairman Anuj Puri said the government has already made its intention to make all real estate related transactions clear with the Benami Property Act and RERA. "Via these and various related measures, the message being sent out is that transactions related to property and any income arising from such transactions will no longer be hidden and must be reported and declared," he said.

Rakesh Bhargava, Director, Taxmann.com said: "The proposed ICDS shall be applicable for determination of income from all forms of transactions in real estate, which refers to land as well as buildings and rights in relation thereto". The companies will have to disclose the aggregate amount of cost incurred, profits recognized, advances received and work in progress along with inventories, the draft said.

SOURCE : economictimes.indiatimes.com


Yamuna Expressway Authority Cuts Interest Rates (16 May 2017)

Yamuna Expressway Industrial Development Authority (YEIDA) has taken an initiative to reduce the interest rates by 1.35% on installments it receives from over 26,000 allottees against property bought from it. The Authority is also thinking over to cut the interest rates by another 1.15% in the near future. YEIDA’s Chairman, Prabhat Kumar has also released a schedule for possession of 10,500 plots and another 5,100 flats allotted in 2009.

"We have reduced the interest rates and are in talks with banks for reducing it further," said Kumar.

"We are also getting ready to hand over possession of more than 15,000 residential plots and flats by December 2017. The first lot of 3,055 allottees have already been issued possession letters by the Authority in January and February. By the end of June, we will hand over possession to 416 allottees. Thereafter, by November 30, another 1,437 plots will be handed over and 8,156 plots in another month," said Kumar.

"We have also given an offer to plot owners to return half of their land to YEIDA. There are 123 people who have been allotted 4,000 sq meters, 292 people who have been given 2,000 sqm of plot, 1,219 who have been allotted 1,000 sqm of land," he said.

Starting June 2017, YEIDA will also start handing over possession of 5,100 residential units. "By June 30, 2,970 flats will be handed over and another 2,130 a month later," Kumar said. These plots and flats are located in sectors 18, 20, 22A and 22D.

Starting June 2017, YEIDA will also start handing over possession of 5,100 residential units. "By June 30, 2,970 flats will be handed over and another 2,130 a month later," Kumar said. These plots and flats are located in sectors 18, 20, 22A and 22D.

SOURCE:- economictimes.indiatimes.com


RERA-Impact on Real Estate Prices (13 May 2017)

From May 1, RERA-2017 the 2016 became effective in  the entire country following which each state will have its own Regulatory Authority (RA) which will make rules and regulations according to the Act.

With the RERA in place, will the real estate prices move up especially in the residential market? The answer to this may not be straight. While the new rules demands  a much stricter compliance and transparency, which may push the real estate prices up especially for the new launches, the large amount of inventory overhang in the system, will probably keep the price rise till the supply gets over.

Existing Inventory
A major portion of the existing supply relates to under construction properties including unsold inventory which could take around 12 months or more to complete. All such projects would now be needed to be registered under RERA and must be developed under new rules.

One such new rule relates to the sale of real estate on the basis of super area and not on super built up area. Till now, the industry used to sell real estate based on super built up area. Now RERA wants projects to be sold on carpet area.

New Launches
RERA provisions would now ensure strict control on management of funds and timely delivery of projects. "There will be now a pressure on delivering the projects on time and this pressure will be translated to contractors who will demand much higher rates for construction. This, in turn, will lead to rise in prices for the end customer, however, on an overall basis the total cost of ownership will actually reduce even though the sticker price of purchase goes up," says Rohit Gera, MD, Gera Developments and VP Credai, Pune Metro.

With the implementation of RERA, the overall costs of development of real estate projects are expected to rise and the same is likely to result in an increase in the prices of the real estate projects.

The Act does not bring the government authorities into the ambit who are responsible for the continuous changes in regulations, lack of transparency and predictability in functioning. If approvals will not streamlined on time then cost revisions and delays will become unavoidable.

Transfer of risk will lead to price rise


With RERA in place, in case if a default, the buyers will now have something to fall back upon. Rohit Gera, MD, Gera Developments and VP Credai, Pune Metro, says, "Earlier, the risk on account of delays, quality, title, and changes in the project were all taken by the customer. As an impact, most customers had to deal with some sort of the default and were forced to bear the cost for this default. After the launch of RERA, these costs will now be owned by the developer and there will be a consequential premium that the flat purchasers will have to pay for transferring this risk to the developer In my opinion, there is no headroom for developers to absorb these increased costs and immediately upon the first opportunity we will see this cost being transferred on to the home purchase with increase in prices."


Conclusion
As per the estimates so far, the industry will not witness a huge onslaught of new launches for few more quarters. Builders are already under pressure with under construction projects and will face issues in bringing them under RERA, complying with new norms, arranging funds that they would have already used and then completing those projects within the new agreed time period.

It's time to move with caution for those buyers looking to book properties anytime between May 1 and July 31. After demonetization and RERA, there is an anticipation of a significant consolidation drive in the real estate sector that could result in a large number of small time and unorganized developers being wiped out.  So, if you are getting a lucrative deal and offer on the on-going projects from small-time builders, which are not yet registered under RERA, it's better to stay away from them.


Start-Up Offices Should Be in Suburbs to Cut Cost (19 Apr 2016)

New Delhi: Start-ups should ideally have offices in suburban locations that command significantly lower rentals in order to cut costs and boost profitability, says property consultant CBRE. In its new report 'Corporate Real Estate (CRE) strategies for start-ups in India', it said "the abundance of a technically skilled workforce and India's demographic and economic dividend has created an immense opportunities for a thriving start-up ecosystem". India had about 4,200-4,400 start-ups at the end


Home prices hit roof, but affordability near its b (17 May 2015)

Housing prices have risen to record high levels, but increase in disposable income of the homebuyers has made the purchase of a house most affordable in over a decade, according to mortgage giant HDFC Ltd.


Higher interest subsidies on flats for EWS likely (17 May 2015)

In a move to ensure every household has a roof over their heads by 2022, the housing ministry is likely to increase interest subsidy for flats under economically weaker section (EWS) and low income group.


Omaxe leases 2 lakh sq ft of retail space to Chine (17 May 2015)

Realty firm OmaxeBSE today said it has leased 2 lakh sq ft of retail space to Chinese companies in its commercial project in Greater Noida


Hyderabad: Selling a property today may not be eas (17 May 2015)

Buyer sentiments have dropped drastically by a margin of 25 per cent in Hyderabad post the general elections in last year. What has triggered this and what are the home buyers in the city thinking? The latest edition of the Housing Sentiment Index Report (HSI) (Jan-Mar 2015) by IIM-B and Magicbricks finds out. HSI is an online survey of prospective home buyers. The seller survey tracks the seller preferences and sentiments from the previous quarter.


PropTiger.com to hire 1,000 employees this fiscal (17 May 2015)

Rupert Murdoch-backed real estate portal PropTiger.com plans to hire about 1,000 employees in this fiscal for expanding its presence in 25 cities across the country.



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