THE RENTAL INCOME FROM THE INVESTMENT IN PROPERTIES (BUILDINGS-CONSTRUCTED) IN BANGALORE IS AS UNDER: RESIDENTIAL: 2% TO 6% ANNUAL RETURNS. COMMERCIAL:1% TO 10% ANNUAL RETURNS. INDUSTRIAL: 1% TO 4% ANNUAL RETURNS. THE RETURNS ARE ON AN FIVE YEAR AVERAGE, DOES NOT INCLUDE MUNICIPAL TAXES, EXPENSES TOWARDS REPAIRS AND MAINTENANCE, SERVICE TAX AND INCOME TAX. BUT, […]
THE CABINET ON TUESDAY CLEARED THE MOST SOUGHT AFTER REAL ESTATE(REGULATION AND DEVELOPMENT) BILL 2013, SEEK TO SET UP THE REGULATOR IN EVERY STATE TO PROTECT THE INTERESTS OF THE BUYERS AND TO ENSURE FAIR PRACTICES IN THIS SECTOR.
THE STATE GOVERNMENT MAY REVISE THE GUIDELINE VALUES OF THE PROPERTIES AND MIGHT INCREASE THE STAMP DUTY ON THE REGISTRATION OF PROPERTIES IN KARNATAKA, VERY SOON.
The Land Acquisition, Rehabilitation and Resettlement Bill 2011, seeks to strengthen the rights of landowners during acquisition of land for development and ensure proper rehabilitation and compensation for those being displaced. It also seeks to address problems of industry when land is acquired for setting up projects. The Land Acquisition Bill will finally be tabled […]
It is advised to conduct a thorough scrutiny/examination of the property documents, licenses, approvals, katha and related clearances from an expert advocate, before entering into an agreement of sale. The Sale Agreement and The Sale Deed are very important documents, which must be drafted with utmost care and all relevant details regarding the acquisition of […]
First Home Buyer will get an additional benefit on Interest limit: There is an additional deduction available on interest repaid on a loan for a first time house purchase. The benefit has been increased by an additional Rs 1 lakh and this will be over and above the Rs 1.5 lakh limit already available,provided, if […]
THE NOVEL SCHEME INITIATED BY THE REVENUE DEPARTMENT TO PROVIDE IDENTIFICATION RECORDS HAS SOME NOVEL PROCEDURES. 1). THE DEPARTMENT WILL ISSUE NOTICE TO THE PROPERTY OWNER TO PRODUCE ALL THE RELEVANT DOCUMENTS TO THE PROPERTY. (50% does not have proper records and 75% of the buildings have abnormal violaion or deviation or not constructed as […]