Kanjurmarg: A coveted real estate hotspot in Mumbai

Located in the eastern central part of Mumbai, Kanjurmarg is a thriving and vibrant suburb with tranquil surroundings, lush green ambience, and serene locales. Due to its well-developed social infrastructure and comparatively affordable average property rates, many home buyers are flocking towards this region to invest in their dream home, hence making this area a sought-after realty hotspot.

Kanjurmarg Real Estate Hotspot

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Take a look at various factors that make Kanjurmarg a coveted real estate hotspot in Mumbai:

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Importance of Stamp Duty in Relation with Income Tax

A property seller and buyer both have to face the income tax implications if there is a difference between the property selling/buying value and the ready reckoner value of a property as this cost directly reflects on the stamp duty charges. Remember that ready reckoner rate commonly termed as RRR is a term defined for circle rate. In India, a person is required to pay the stamp duty charges to the Government at the time of buying a property. So, in this blog post, we help you know the importance of stamp duty in relevance with income tax.

Stamp Duty

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1. What is Stamp Duty?

Stamp duty is an indirect tax levied by the State Government on the property deal which includes buyer and the seller or even more parties within the state’s jurisdiction. Many Indian states also offer a rebate in the stamp duty charges for women home buyers like the national capital Delhi, its neighboring state Haryana and Rajasthan charge 1% or 2% less stamp duty in comparison to the male home buyers.

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Want a Property for End Use? Find The Best Options Here!

Want a Property for End Use? Find The Best Options Here!For those who are looking for a property for end use, there are plenty of options available in the National Capital Region (NCR). However, it depends on how soon you want to move in to your new home. If you want to shift within a year, you should look for properties that are close to completion. Some projects that will be completed within a year include Lotus Greens Panache, Lotus Greens Boulevard, Supertech Cape Town, etc. Several options in resale are also available if you want to shift immediately.

For those who plan to shift within 3 years, there are several newly launched projects in Noida. Lotus Greens Sports City is one such project. Located in Sector 150, it enjoys good connectivity with prime areas of NCR. Large sized flats with premium facilities would be available at a rate of 4,500-5,000 per sq ft. If your budget is Rs 1 Crore, you can easily get high-end homes for a price of around Rs 90 lakh. [Read more…]

Year 2015 Expected to Bring Revival for the Real Estate Industry

Year 2015 Expected to Bring Revival for the Real Estate IndustryAfter the coming of Modi government, the second half of year 2014 proved to be the phase of recovery for the realty sector. The property prices showed an upward trend for both residential and commercial sector. A revival was seen in the buyers’ and investors’ sentiments. They have started giving much preference to the condition of infrastructure and security before buying the property.

The market saw an increase in the demand for affordable housing. There is a larger segment of end users who prefer affordable houses in smaller configurations. The demand for properties below 30 lakhs was seen in almost all the cities across the country including Delhi, NCR, Bengaluru and Chennai. Also, the buyers seem to be more inclined towards apartments than villas and builder floors. When it comes to investment in property, Delhi NCR tops the charts. [Read more…]