On 1st July, PM Narendra Modi introduced the Goods and Service tax with the aim to offers relaxation from the multi-level tax payment. This tax procedure includes various taxes like VAT, Service tax and more. In fact, a GST Council is also structured to discuss and track the process. This tax system is also applicable on the Indian real estate market and thus people have various apprehensions about the same. Hence, we have listed down the FAQs [Frequently Asked Questions] about GST to make dealing in the property market easy:
Like the Occupancy and Encumbrance Certificate, the Tripartite Agreement is also an essential part of home buying and this document is important to avail financial support from the bank. So, here are the things you must know about the Tripartite Agreement as almost every second home buyer look up to the financial institutions to get a home loan sanctioned within the minimum time possible:
One of the main questions that confuses a first-time home-buyer is whether he should buy a home in a ready-to-move-in project or make a booking in an under-construction project. Both the options have their own pros and cons.
As the name suggests, an under-construction property is one that is still in the development process and is not fit for immediate move in. The main issue related to the under construction property is the delay in completion of the project. The project may be delayed due to any reason, the most prevalent are those related to financial consequences and litigation issues. In case of ready to move in properties, you do not have to suffer the risk of delay. You get immediate value for money. [Read more…]