Properties in Beta 2 Greater Noida

Under the Maharashtra Housing and Area Development Authority’s housing scheme for 2018, over 1,100 low-cost apartments will be sold in December. The authority will release an advertisement on November 5 announcing the housing lottery, with about 45 days available for homebuyers to apply. This year, about 500 units will be reserved for low-income group with 283 units for the economically weaker sections. MakaaniQ tells you all about the Mhada Lottery Scheme 2018 and the process for application.

Real estate giant Godrej Properties is in the final stages of buying the iconic RK Studios, owned by the Kapoor family. According to media reports, the deal is almost final and Godrej Properties has already paid the token amount. While the Kapoors had quoted a price of Rs 250 crore, the property will be bought for Rs 190 crore. Once the deal is sealed, the 2.2-acre land parcel in Chembur will be used to construct a mid-income residential project.

Central Board of Direct Taxes had notified the new provision of Tax Deducted at Source [“TDS”] on immovable property. The amendment is effective from June 1, 2013. With developers, builders, residential societies and associations starting up with the process, this article aims to provide you with procedure that is to be followed to pay the TDS.

A quarterly report by PropTiger.com shows the sale of homes in India’s nine major cities increased 24 per cent in the July-September quarter of the current financial year when compared to the same quarter previous fiscal. Unsold inventory, on the other hand, declined 11 per cent year-on-year, registering the biggest fall in 13 quarters.

While the report estimates wealth per adult at $7,020 in mid-2018, it says that Indians typically put most of their money into real estate and other real assets which together make up 91 per cent of one’s assets.