4 - updates found regarding "first step towards building"

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Although this seems to be a positive move by the government this might hit the buyers and builders alike in the affordable and mid-segment housing categories. Builders have complained that the 1% surcharge would push the total taxes up to 19%.According to Knight Frank, about 70 percent of the total sales in the first half of 2018, came from low to mid-segment markets, such as central and western suburbs, Thane and Navi Mumbai .Surcharge might adversely impact sales of homes in Mumbai, especially in the outskirts, even if they try to revive ...

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Every Investment has its own pros and cons and you can never find a risk free investment. But, there are some misconceptions that people have when it comes to buying a property and these misconceptions may sometimes lead you to buy a wrong property.

- Risk Bearing: The first and biggest ...

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Property tax computation in Mumbai was earlier done on the rate based value system where the charges are determined by the amount of rent collected from a given property in a year.The Brihanmumbai Municipal Corporation (BMC) has now adopted a capital value-based property assessment and tax calculation system which depends on the stamp duty ready-reckoner rate issued by the government to estimate the property value based on different parameters. This rate is revised annually which helps BMC to arrive at a realistic value.

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Property tax is the capitalized and collected as tax, from property owners by municipal corporations, which is used for the development of the locality such as maintenance of roads and allocation of civic facilities like street lighting, drainage systems, parks, etc. The tax is imposed on an annual or half annual basis and is paid to the local municipal corporation. Then the property tax may vary from one  location to the other.

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