Category: Tax

Indian law allows a person to own multiple homes. However, for all the properties taken together, the amount of home loan available to you will depend on various factors. You are entitled to certain tax benefits for buying, building, renovating, or repairing a house property. This is with respect to the interest paid on borrowed money. The tax laws also allow you to claim tax benefits for repaying the principal amount for the purchase and construction of a residential house. Tax benefit on interest payment Under section 24(b), you may claim…

Loans for home and land may seem to be the same since both are part of real estate. But in financial terms, home loan and land loan differ in a few major areas.  Banks and Non-banking financial institutions (NBFCs) provide both loans. Also, despite certain differences, the rules for processing the loans are exactly the same.  Let us look at the differences now; Purpose of the property:  Home loans can be availed for houses that are ready to sale, under-construction, or approved for construction in the future. Such loans are given…

In India, government levies tax on rental income through the ‘Income from house property’ section of the Income Tax Act of India. The law considers the rental income obtained as income accrued and hence makes it eligible for taxation irrespective of the residential status. So, any rent you receive by renting out your house or commercial or residential property, it is taxable. The tax rate applicable for calculating the income tax for the rental income depends on the income slab of the assessee, i.e., under which tax slab he/she is falling.A…

What is circle rate? Circle rates are minimum rates for property registration transactions notified by the sub-registrar or registrar’s office. It is different for each place and varies according to the place. In this article we will be taking a look at the circle rates of Delhi. Significance of circle rate Circle rates are significant because they are used as a factor while determining the price for property values during a purchase or sale. Financial institutions also use it before they sanction a mortgage loan. Residential Plots’ circle rates in Delhi…

Real Estate sector is a pillar of Indian economy. GST, also known as Goods and Service Tax, includes Central GST, State GST and Integrated GST. Previously, there were various modes of taxes like VAT, Sales tax, etc. levied on the properties.  However, now the Government has decided to fix a single rate GST on properties. We buy and invest in properties; however we are still unaware of GST on real estate sector.   Who pays the GST on real estate sector? The buyer and the investor who invests in under-construction properties…

Generally, stamp duty charges and property registration fees differ from one State to another. These charges are levied at the time of registration of a property. Paying such charges authenticates a homebuyers’ ownership of the property. Hence, it is mandatory to pay stamp duty and to register your property. Propertyyy.com shares an insight into the costs involved in property stamp duty in Noida Extension. After buying in on the property of your preference, it is important to get it registered. The home buying process is incomplete until you get it registered…

Generally, stamp duty charges and property registration fees differ from one State to another. These charges are levied at the time of registration of a property. Paying such charges authenticates a homebuyers’ ownership of the property. Hence, it is mandatory to pay stamp duty and to register your property. Propertyyy.com shares an insight into the costs involved in property stamp duty in Greater Noida Extension After buying in on the property of your preference, it is important to get it registered. The home buying process is incomplete until you get it…

The new process of online property registration in Delhi has helped people get things in no time. The old traditional way was time-consuming and complicated; the Delhi government introduced an online registration portal to ease the procedure for registration of property in the city. To know more about the online property registration process in Delhi, read on here. Online Property registration in Delhi is a crucial part of a real estate transaction as only a well-executed registration permits the transfer rights to the buyer and proves his legal ownership of the property. However,…

If you are looking to know Stamp Duty in Delhi then you are at the right place. Generally, stamp duty charges and property registration fees differ from one State to another. These charges are levied at the time of registration of a property. Paying such charges authenticates a homebuyers’ ownership of the property. Hence, it is mandatory to pay stamp duty and to register your property. Propertyyy.com shares an insight into the costs involved in Delhi stamp duty. If you are looking to know Stamp Duty in Delhi then you are…

A circle rate is the minimum value of a locality which is taken into consideration while calculating the stamp duty charges at the time of sale, purchase and transfer of a property. Circle rates vary from area to area, based on different criteria. For residential properties in Greater Noida, the Uttar Pradesh government fixes the circle rates. Propertyyy.com shares the latest circle rate in Greater Noida. Greater Noida circle rate is the minimum value notified by the Uttar Pradesh government through the registrar or sub-registrar office for registration of any property…