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Answered on November 17, 2017
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  • Yes. GST for Cement has been reduced. The GST on cement originally was 28%.

    Now, the GST for Portland Cement, Aluminious Cement, Slag Cement, Super Sulphate Cement and Similar Hydraulic Cements have been reduced from 28% to 18%.



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    Answered on November 15, 2017
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  • You can execute a gift deed of the property by paying appropriate Stamp Duty and register it in favour of your mother.

    List of necessary Documents :-

    1. The present title deed 
    2.  Share Certificate 
    3.  Electricity Bill 
    4.  Maintenance bill 
    5.  Occupation certificate

    The time frame depends on the lawyer to draft a gift deed. Once your papers are in order shouldn’t take much time. After document ...

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    Answered on November 15, 2017
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  • Property Card can be obtained here - http://prcmumbai.nic.in/jsp/propertyNew.jsp

    The 7/12 extract can also be accessed from the Maharashtra Government’s website but it can be used only for informational purpose and not for any legal purpose. To view the 7/12 extract:

    Go to the website of the Maharashtra Government by using the following URL: www.mahabhulekh.maharashtra.gov.in
    (a) A district map ...

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    Answered on November 15, 2017
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  • Deductions on interest are limited, if your payment towards interest is more than the stipulated limited permitted under the IT rules, then that much amount will be disallowed whilst computing your income and further, you will be charged notional rent as income from the second flat (on and from receipt of possession of the second flat), even if the same is not rented out then.


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    Answered on November 15, 2017
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  • The right to admit execution of a document before the registration authorities can be granted to someone by way of a Power of Attorney. An NRI can execute such Power of Attorney before the Indian embassy at the place where such NRI resides and forward such Power of Attorney to India for adjudication and payment of stamp duty and thereafter, such Power of Attorney can be used to admit execution ...

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    Answered on November 15, 2017
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  • The following taxes apply on a reslate flat: 

    1) 5% Stamp Duty (Consideration Amount or Market Value of the flat, whichever is higher)

    2) Registration (1% of consideration or 30000/- whichever is lower)

    3) Capital Gains Tax - 

      (a) Short Term - If you sell the flat within 3 years of possession, a 35% short term capital gain tax is applicable on the gain. Gain is calculated as the profit earned...

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    Answered on November 17, 2017
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  • While everyone has a different opinion on this topic, the distance of the seating from the television is heavily dependant on the size of the Television.

    The thumb rule is :

    For HDTV

    Optimal viewing distance = 1.5 to 2.5 times the screen diagonal

    Thus for a 42" HDTV,

    Optimal viewing distance = (1.5x42) to (2.5x42) = (63") to (105") = 5.4 feet to 8.9 or 9 feet

    and

    For 4K HDTV

    Optimal viewing dis...

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    Answered on November 09, 2017
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  • According to RERA, every real estate agent registered under section 9 shall—

    • not facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a real estate project or part of it, being sold by the promoter in any planning area, which is not registered with the Authority; Obligation of Authority consequent upon lapse of or on revocation of registration. Registratio...
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    Answered on November 09, 2017
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  • In the recent years, Indian real estate market has had several ultra-luxury projects.  India’s ultra-high-net-worth individuals have shown a keen interest for expensive and luxurious housing. A house in a coveted locality is not enough. The house should have the perfect balance of high standard of living and premium quality of amenities.



    There is over a 100% rise in ultra-luxury projects. Duri...

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    Answered on November 09, 2017
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  • It is not mandatory for all societies yet.

    As per the latest circular issued by MCGM (dated 18th July, 2017), societies that produce on an average of 100 kg of waste daily need to segregate and process waste at source.

    It is always preferred that all societies segregate and process waste inhouse to lessen the burden on dumping sites.

    You can get more details about this directive of the civic bo...

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    Answered on November 09, 2017
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  • We would suggest you to check the detailed blog post about the same. Please visit this link



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    Answered on December 04, 2017
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  • Mumbai DCR Regulation 51(i) states: Apart from residential use,  Customary Home Occupation shall be permitted in buildings, premises or plots in a purely residential zone. 

    "Home occupation" is defined as customary home occupation other than conduct of eating or drinking place offering services to the general public customarily carried out by a member of the family residing on the premises with...

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    Answered on November 09, 2017
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  •  As per definition, builder cannot add balcony area or pocket terrace area as a part of the carpet area. However, it can be separately mentioned in the agreement as a disclosure to a prospective purchaser. They may be included in the lumpsum price of the apartment.


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    Answered on November 09, 2017
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  • Certificates are required only when we want to withdraw money from the designated accounts. It is not required for just updating details of the product.

     

    Please find excerpt from Act, to give you more details on the same.

     The promoter shall, upon receiving his Login Id and password under clause (a) of sub-section (1) or under sub-section (2) of section 5, as the case may be, create his web pa...

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    Answered on November 09, 2017
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  • Personal Loan for Home Improvement. Home improvement loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated. These loans are given for a maximum term of 15 years and interest charged on these loans lies in the range of 9.5% to 10.5% per year.

     

    Following are  the documents required to avail a home improvement loan

    Proof of bot...

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    Answered on December 03, 2017
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  • The Term Loading is Associated with Loading of TDR in the MCGM Building Proposal File.

    In MCGM TDR is Permitted to be Utilised as per DCR 34. The Process of Utilising TDR and additing to the BUA of the Projeft commonly Refered to as Loading of TDR.

     

     









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    Answered on November 09, 2017
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  • As per the current rules, any project flat having Occupation certificate is not liable to pay GST, for sale of flats.


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    Answered on March 20, 2018
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  • Check out the following article, explains everything in detail about Home insurance policy

     

    https://www.housingman.com/news/safeguard-your-home-with-home-insurance-policy/






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    Answered on December 03, 2017
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  • The BMC Estate Department is the Department which Maintains Records of the Lands and BUA Held by the MCGM.

    The Functions and Services of the Department is pertaining to the Proposals for lease of Municipal plots , renewal of lease, Transfer of Leasehold rights, Recovery of lease rent, Ground rent etc.
    Acceptance of Redevelopment of Municipal Tenanted properties, Leasing the plots to said propose...

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    Answered on November 09, 2017
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  • DRC Stands for Developments Rights Certificate.

    It is as per the TDR Policy wherein DRC is Granted when any Reserved Land in Development Plan is Surrendered to the Municipal Corporation Free of Cost in Leiu of TDR, Which can be Sold in the Open Market by the Land Owner as TDR.  






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    Answered on November 09, 2017
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  • While majority of the people still use normal plain glasses in French windows, Safety Glasses are considered to be the best fit.

    You can select either from Tempered Glass or Laminated Glass.

    Tempered Glass is stronger and more durable than regular annealed glass. Also upon breaking, it will shatter into dull, 

    rounded cubes as opposed to sharp, jaggered pieces.

    On the other hand,  Laminated gla...

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    Answered on November 09, 2017
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  •  In accordance with notifications issued by Urban Development Department of Government of Maharashtra, MR & TP Act is applicable to all the districts of Maharashtra. Hence, all areas of Maharashtra are included in Planning Area as defined in Section 2(zh) of the Act









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    Answered on November 09, 2017
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  • Personal Loan for Home Improvement. Home improvement loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated. These loans are given for a maximum term of 15 years and interest charged on these loans lies in the range of 9.5% to 10.5% per year.

     

    Following are  the documents required to avail a home improvement loan

    Proof of bot...

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    Answered on December 03, 2017
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  • Once the Submission is made to the MCGM with the Requisite Submission Requirements along with the Proposed Plans as per Regualtions and Duly Paying the Scrutiny Fee Thereafter.

    The File is Processed in the Building Proposal Department and the Plans are Scrutinised the Cooncerned Engineering Staff to Process for the IOD.  

    In Case the Proposal Needs Relaxations (Commonly Known as Concessions) Th...

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    Answered on November 09, 2017
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  • This is very variable and can range anywhere from 3-6 months rent.



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    Answered on November 09, 2017
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  •  It should be noted that home loan EMIs will not go up since service tax is not levied on them and hence they will not be taxable under GST. However, loan processing fee and prepayment charges, etc., where service tax was levied will go up nominally, on virtue of GST





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    Answered on November 09, 2017
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  • BCC is the Buildng Completion Certificate.  

    Procedurally the Regulations Require you to Obtain the Building Completion Certificate from the Planning Authority, After the Construction is Complete as per Approved Plans and as per Permissions granted.

    After which the water Connetion should be Obtained from the Water Department and then Occupation Certificate should be Granted.

    But Due to the Ease...

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    Answered on December 03, 2017
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  • Yes Ofcourse, Why Not.

    It would be Interesting to Know that Prior to the Right to Information Act and the East of doing Business Initiative

    Only 30 to 40% of the Existing BUildings had OC.

    Most of the Buidlings were without OC and yet have been Redeveloped 

     

     




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    Answered on November 09, 2017
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  • You have to file a suit and get an injunction against the developer from creating third party rights in respect of the offices sold to you and further that any agreement done by him in favour of a third party would be subject to your rights in the offices. Further, unless you are able to prove payments made in cash (if the same is disputed by your builder) then seeking compensation to that exte...
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    Answered on November 09, 2017
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  • RERA registration is required in case a project needs to be marketed. If no flat has been sold in the current project and builder does not intend to sell any unit till OC is received, he is not required to register under RERA.


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    Answered on November 09, 2017
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  • Are the grounds for delay due to force majeure conditions, beyond the control of the developer?

    If not, can you please elaborate the terms in your agreement? Is there a termination clause in the agreement? What is the possession date specifically mentioned in the agreement?

    On grounds of inordinate delay, you can approach the developer to amicably settle the matter. However, if that does not wo...

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