DID YOU CHECK AND VERIFY THE VAT TAX, SERVICE TAX, BESCOM DEPOSIT AND BWSSB DEPOSIT CHARGED BY THE SELLER/DEVELOPER ?


ONE OF OUR READER HAS DONE A CALCULATION OF VALUE ADDED TAX, SERVICE TAX, BESCOM DEPOSIT, BWSSB DEPOSIT, LEGAL CHARGES, GENERATOR CHARGES, STAMP DUTY AND REGISTRATION FEES, WHICH WORKS OUT AT OVER 20% OF THE STATED OR QUOTED PRICE OF THE PROPERTY, APART FROM THE CHARGES PAID OR PAYABLE FOR OBTAINING THE BANK LOAN, WHICH […]

THE MARKET VALUE OR GUIDANCE VALUE FOR REGISTRATION OF PROPERTIES IS UNDER REVISION


THE CVC HAS PUBLISHED THE GUIDANCE VALUE FOR THE BANGALORE URBAN DISTRICT AND INVITED OBJECTIONS FROM THE PUBLIC, TO BE SUBMITTED WITHIN 15 DAYS FROM 07-10-2014.  THE OBJECTIONS ARE BEING EXAMINED.  THE REVISED GUIDANCE OR MARKET VALUE OR THE REGISTRATION VALUE TO CALCULATE THE STAMP DUTY AND THE REGISTRATION FEE WILL BE PUBLISHED SOON. IT […]

JOINT DEVELOPMENT AGREEMENTS EXECUTED FOR APARTMENTS AND LAYOUTS – UNDER REVISION – STAMPS AND REGISTRATION DEPARTMENT –


THE STAMPS AND REGISTRATION DEPARTMENT HAS DETECTED TAX EVASION IN THE JOINT DEVELOPMENT AGREEMENTS EXECUTED BETWEEN THE LAND LORD AND THE DEVELOPERS AND BUILDERS AND HAS REOPENED THE FILES BY ISSUING NOTICES TO THE CONCERNED LANDLORDS AND THE BUILDERS/DEVELOPERS. IT IS FELT THAT THE DUTY LIABILITY ALONG WITH THE FINE WILL BE IN TUNE OF […]

PERMANANT VALUATION CELL FOR THE REVISION OF GUIDELINE VALUE OF PROPERTIES IN KARNATAKA


THE GOVERNMENT HAS APPROVED THE INSTITUTION OF A REGULAR VALUATION CELL FOR THE REGULAR VALUATION OF PROPERTIES ACCORDING TO MARKET PRICES OF THE PROPERTIES FOR THE REGISTRATION. IT IS EXPECTED THAT THE GENERATION OF REVENUE FROM THE REVALUATION OR REVISION OF THE GUIDANCE VALUE ACCORDING TO THE MARKET TRENDS OR MARKET PRICES, WILL BE AROUND […]

PROPERTY PRICES SET TO RISE IN BANGALORE


THE GOVERNMENT IS SERIOUS ABOUT INCREASING THE STAMP DUTY ON THE REGISTRATION OF PROPERTIES AND THE GUIDANCE VALUE MIGHT BE BROUGHT TO THE MARKET RATE COUPLED WITH 1% TDS ON THE VALUE OF THE PROPERTIES WHICH EXCEED RS 50 LAKHS AND ABOVE, AS PER THE RECENT FINANCE ACT, WILL  INCREASE THE PRICE OF THE REALTY […]

REGISTRATION EXPENSES MAY GO UP SOON FOR PROPERTIES IN KARNATAKA


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.

PROPERTY REGISTRATION CHARGES AT BANGALORE


THE STAMP DUTY IS 5.6% ON THE GUIDANCE VALUE OR THE MARKET VALUE OR THE CONSIDERATION SHOWN IN THE DOCUMENT- WHICHEVER IS HIGHER. IT IS APPLICABLE FOR BBMP LIMITS PROPERTY. THE REGISTRATION FEE IS 1% ON THE GUIDANCE VALUE OR THE MARKET VALUE OR THE CONSIDERATION SHOWN IN THE DOCUMENT- WHICHEVER IS HIGHER. IT IS APPLICABLE […]