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- Under the recently notified rules of the city’s Development Plan 2034, the old housing societies and tenanted building with five or more rented apartments could get up to 70 per cent additional FSI of the total existing build-up area for redevelopment. Once redeveloped, the new apartments will have an extra 12 per cent carpet area.
BMC Uses Laser Technology To Track Illegal Construction; Looks At Rs 500 Cr Additional Property TaxThe Brihanmumbai Municipal Corporation is now adopting laser technology to find building alterations made across the city. It aims to earn up to Rs 500 crore additional property tax if these alterations are found to be unauthorised.
Falling Rupee Is Good News For NRI Real Estate InvestorsWith the rupee witnessing a major fall against the dollar in recent months, it is an opportune time for NRIs to buy property in India. The depreciating currency value is benefitting NRI investors significantly as investors get more square feet of space for the same amount in the foreign currency. NRIs can also leverage the power of their additional income by investing in properties because prices have corrected over the past few years. This is prompting a large number of NRIs to invest in India’s realty market.
All You Should Know About Property MutationProperty mutation is the transfer or change of ownership title from one person to the other under circumstances involving purchase of a property, inheritance due to death of owner or property will or through the registered power of attorney. The local municipal corporation is responsible for maintaining a comprehensive record of property ownership and transfers. It enables the authority to fix property tax payment liabilities.
Applying For A Home Loan? 7 Charges You Should Be Aware OfHome Loan borrower needs to pay additional costs and extra charges on home loan approval. Know these fees and charges that you will have to bear even if your home loan application is rejected. This includes processing charges, CERSAI, prepayment charges etc
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