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Gated Communities With Strict Measures to Prevent Corona virus
Real Estate
20 Mar 2020 | 154 Views
Gated Communities With Strict Measures to Prevent Coronavirus
Hyderabad has become one of the emerging residential hubs with developing infrastructure facilities. Many reputed real estate builders are constructing gated community apartments in Hyderabad to provide a better standard of living to residents. With the coronavirus threat in India, prevention appears to be the best cure available so far. Accordingly, management in gated communities are putting in strict measures to tackle the Covid-19 outbreak and safeguard their residents.  Gated Communities Management Plans  In some of the gated communities, the management has decided to stop the entry of all outside visitors in the community till March 31. They have issued a circular that if anyone visiting the apartment from foreign countries has to reach out to the management committee by sending an email or calling the help desk. They have to quarantine themselves for 14 days. Only maintenance staff such as housemaids, drivers are being allowed, after the thermal screening at the entrance gate. Also, the committee has canceled all Vasantha Navarathri Celebrations for this year.  Safety Measures to Prevent Coronavirus Common areas have been closed Using MyGate App to allow entry of outsiders Issued Emergency Management Plan  Avoid using biometrics for access  Collect the parcels at gate to avoid the entry of delivery boys  With the preventive measures, gated communities in Hyderabad aims to secure the residents from the spread of the Covid-19. By: Shailaja K

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Telangana State Government Approved Warangal Master Plan
Real Estate
17 Mar 2020 | 206 Views
Telangana: State Government Approved Warangal Master Plan
The state's second-largest city, Warangal, also referred to as a tri-city because it consists of three towns including Warangal, Hanamkonda and Kazipet. It will soon be witnessing rapid development, with the state government approval for the Kakatiya Urban Development Authority ( KUDA) master plan. On Wednesday, after a review meeting with Ministers Errabelli Dayakar Rao and Satyavathi Rathod and KUDA officials in Hyderabad, Mr KT Rama Rao signed the documents permitting the Warangal Master Plan. Government Plans on Warangal Sustainable Development  The Minister at the meeting said that Warangal would soon get an upgrade with its Master Plan approval. He directed officials to complete the 29 km long Outer Ring Road by 2nd June. Also to prepare plans for Metro Rail along with Monorail. The State government was confined to developing Mamnoor airport with Central approval.  After enquiring with officials about the progress on 'Smart City,' KTR directed them to construct 1,000 public toilets by Dasara and also to take steps to convert insanitary toilets into sanitary ones. Speaking on the Chief Minister's promises, he asked the officials to complete 3,900 double bedroom houses quickly. He said that the 900 houses already built should be inaugurated soon.  The alternative plans should be prepared for building 800 houses where there was a problem over land and other issues.  The Minister also directed officials for the rapid completion of Kaloji Kalakshetram, Ekashila Park, construction of the junction and road widening. And to come up with sanitation, greenery plan and energy audit as part of Pattana Pragati. Also, to find places for the new crematoriums and the dumping yards.  He informed that a review meeting would be conducted in the coming week and asked the officials for attending the meeting with detailed information. It is expected the infrastructural developments in Warangal will give fruitful results to its real estate investors. Get to know more trending real estate news and latest properties for sale in Hyderabad with just one click. By: Shailaja K

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TS TRANSCO 132 KV  Underground Cable work is in progress at Hitech City
Area
03 Mar 2020 | 200 Views
TS TRANSCO 132 KV Underground Cablework is in Progress at Hitech City
Hitech City is located in the Western Zone of Hyderabad and is a decent area with developed infrastructure facilities. This area is a hotspot for leading IT offices such as TCS Deccan Park, Dell Campus, Infosys Campus, etc. The demand for residential space is high in this area due to comfortable commuting facilities to IT hubs. Many people, especially working professionals, want to settle here for comfortable commuting to home and office.  Hitech City Real Estate  Hitech City area is well-connected to many prestigious schools, banks, and hospitals and an excellent network of railways and roadways. The nearby localities include Madhapur, Gachibowli, Kondapur, Whitefield, Kothaguda, and Jubilee Hills. The area has a total of 1109 residential apartment units for sale with excellent facilities.  The average price of a flat in Hitech City ranges between Rs 5000 to Rs 8500 per square feet. Many reputed builders launching new apartments in Hitech City with modern amenities include swimming pool, car parking, clubhouse, jogging track, CCTV surveillance, power backup, indoor games, green landscaping, and so on for comfortable stay of residents.  Latest Infrastructure Development in Hitech City Hitech City is observing a lot of popularity for its incredible residential infrastructural growth. To regulate power supply, a new 132 KV TS Transco underground cable work is in progress near in Hitech City area. This facility adds more value for the locality, for a convenient stay of its residents. This new development helps to transform the high voltage to low also helps to reduce power losses. The demand for residential space, developing infrastructure, and the rise in the price of properties helps you to get an excellent return on investment.  Do you dream of buying a flat in Hitech City? Our team helps to make your property search a hassle-free experience. With our huge real estate database, you can find an ideal home in the Hitech City area and lead a comfortable lifestyle. By: Shailaja K

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Stamp Duty And Property Registration Charges In AP Updated
Real Estate
27 Dec 2018 | 108K Views
Stamp Duty And Property Registration Charges In AP [Updated]
Andhra Pradesh Property Registration Process The property registration is mandatory in India as per the Indian Registration Act, 1908. The transfer of property is to be registered to obtain the rights of the property on the execution date of the deed. And accordingly, the House Registration Charges In AP will be levied. Let us look at the process of property AP Registration. What are the Documents Required for AP Property Registration? Passport-size photo of  property buyer and seller Photo identification (Voter Card, Aadhar Card, Passport, etc.) Verified copy of the original sale deed. Copy of the latest property register card (to be obtained from the City Survey Department). Copy of Municipal Tax bill. Stamp Duty in Andhra Pradesh The stamp duty is the percentage of the transaction value levied by the state government, on every registered sale. Does Property Registration Benefits? Registration of property helps for proper recording of documents which provide more authenticity. To ensure the prevention of fraud, conservation of evidence, the transfer of title to the owner. By registering property, the document will maintain an up to date public record. Stamp Duty Stamp Duty is collected during the transfer of property from one person to another. The state government collects the amount and is governed under the Indian Stamp Act 1922. The State government collects stamp duty, and it varies from one state to another. The payment of stamp duty includes stamp duty, transfer duty fee, and AP land registration charges. It is calculated on the market value of the property. Stamp Duty Payment Process If you buy a property, then registration of the new property is mandatory. Also, you have to pay stamps and registration charges in AP. With the AP Registration and payment of fees, you will become the owner of your property legally. This document helps in any future unexpected property disputes. You will also have a duplicate copy of your sale or transfer deed in Sub-Registrar’s office. It will help in the case if you lose your original documents. Types of Charges Sale Deed Gift Deed Exchange Deed Partition Deed Lease Deed (where the period of lease is more than 12 months) Transfer Deed Mortgage Deed Power of Attorney (General or Special) Calculation of the Stamp Duty Charges Differs Based on Below Features: Property location:  A property located in an urban area attracts more stamp duty compared to rural areas. Property type: Lower stamp duty is charged for a residential property (flat/apartment) compared to a commercial property (industries/ commercial complex/ hotels). Age of the property: A new property has more stamp duty than older/resale properties. Gender of buyers: A female buyer can get a rebate on the stamp duty charges. Age of buyer: A senior citizen can also get a rebate on the stamp duty charges. Updated Information: Property Registration Charges In Andhra Pradesh in 2019: The state government fixes stamp duty. For example, in Andhra Pradesh, the base Andhra Pradesh Stamp Duty rate of apartment/ flat is 5%, transfer duty is 1.5%, and the registration fee is 0.5 %. Stamp Duty fee is imposed on the absolute estimation of the property. To know further details on AP land registration charges and stamp duty, go through the Andhra Pradesh State government official website.http://registration.ap.gov.in/ Property Stamps and Registration charges in Andhra Pradesh in  2018.                Type Of Fee    Registration Rates     Stamp Duty Rates Transfer Duty Charges                        Sale                  1%                  5%            1.50%  Gift (Gift Within The Family)                 0.5%                  2%               0                      Exchange                 0.5%                  5%             1.50%                      Partition                 1000                  2%               0                      Release                 1000                  3%               0  Agreement Of Sale Cum     General Power Of Attorney                     0                  0               0 How to Calculate the Stamp Duty and Registration Charges? The stamps and registration AP charges are calculated using the formula given below: Where property value is (Higher of Ready Reckoner Rate or Actual Transaction Value) Ready Reckoner Rate/Circle Rate means, it is the minimum value of the property that is fixed by the state government. And, stamp duty is calculated as the higher of ready reckoner rate or actual transaction value. Many property transactions in India take place by the market rate in a particular locality. The stamp duty and registration fees are paid by the buyer are calculated from the market rate. In rare cases, where the RRR is higher, the stamps and registration fees in Andhra Pradesh will be calculated on the RR rate. For Example: Assume, the property value in a particular area has RRR (Ready Reckoner Rate) of Rs.5000 per sq.ft. However, if the market price of the property is Rs. 6000 per sq.ft, the buyer has to pay stamp duty and AP land registration charges on Rs.6000 per sq.ft, as it is higher. Let you know in brief about the charges with the below examples. Case 1: If the Ready Reckoner Rate is Rs 70,00,000 and the Actual Transaction Value is Rs 80,00,000 then stamp duty @5% is calculated as Stamp Duty = 5% of (Higher of Ready Reckoner Rate or Actual Transaction Value)  (i.e.) 5% of (Higher of Rs 70 lakhs or Rs 80 lakhs) 80, 00,000*5/100 = 4 lakhs Registration charge =1% of (Higher of Ready Reckoner Rate or Actual Transaction Value) (i.e.) 1% of (Higher of Rs 70 lakhs or Rs 80 lakhs) 8000000*1.0/100 = 80,000 Transfer duty =1.5% of (Higher of Ready Reckoner Rate or Actual Transaction Value) (i.e.) 1.5% of (Higher of Rs 70 lakhs or Rs 80 lakhs) 8000000*1.5/100 = 1, 20,000 Therefore, the amount of the stamps and registration charges in Andhra Pradesh  is 6,00,000 Stamp Duty = Rs 4,00,000 Registration Charge = Rs 80,000 Transfer Duty = Rs 1, 20,000 Total Registration Cost = 4,00,000+80,000+1,20,000 = 6, 00,000 Case 2: If the Ready Reckoner Rate is Rs 1 crore and the Actual Transaction Value is Rs 70 lakhs, then stamp duty @5% is calculated as Stamp Duty =5% of (Higher of Ready Reckoner Rate or Actual Transaction Value) (i.e.) 5% (Higher of Rs 1 cr or Rs 70 lakhs)  = 5/100 * 1 crore = Rs 5,00,000 Registration charge =1% of (Higher of Ready Reckoner Rate or Actual Transaction Value)  (i.e.) 1% of (Higher of Rs 1 cr or Rs 70 lakhs)  =1/100 * 1 cr = Rs 1,00,000 Transfer duty =1.5% of (Higher of Ready Reckoner Rate or Actual Transaction Value) (i.e.) 1.5% of (Higher of Rs 1 cr or Rs 70 lakhs)  =1.5/100 * 1 cr = Rs 1,50,000 Therefore, the amount of the stamps and registration charges are 7,50,000 Stamp Duty = Rs. 5,00,000 Registration Charge = Rs 1,00,000 Transfer Duty = Rs 1,50,000 Total Registration Cost = 5,00,000+1,00,000+1,50,000 = 7,50,000 Do you plan to buy a property in Andhra Pradesh, it is essential to know about the AP land registration documents online process and charges involved in transactions. Property registration is one of the crucial parts of property transactions. Look at the below details to know detailed information of stamp duty and registration charges and process in Andhra Pradesh. The Indian Registration Act 1908 in section 17 all transactions related to the transactions every property should be registered within six months of the sale deed in the Registrar’s Office. The advantage of the property registration in Registrar’s Office is it helps to preserve the title of ownership and future disputes. Also, if any conflicts or misleading of property happens, it is used as a proof for your property. You can register your property by paying stamp duty and registration charges of Stamps and Registration AP. This stamp duty and registration charges are vary based on the area of the property located. In the process of property registration AP, you have to pay the fee includes registration charges, transfer duty, and stamp duty. These charges are paid as per the provisions of the state Gram Panchayats Act 1964 and Andhra Pradesh Municipalities Act, 1965. How much is stamp duty paid in case of “gift settlement deed” in Andhra Pradesh? In case of any exchange, Andhra Pradesh stamp duty rate is 5%, transfer duty is 1.5%, and the Gift Deed Charges in Andhra Pradesh is 0.5% minimum is Rs 1000 and maximum is Rs 10000 of the higher of the market value of the apartment or flat. Pay stamp duty and registration charges in agreements of transfer: Deeds like Sale, gift, exchange, partition, lease where the period of lease is more than 12 months, right transfer document, mortgage, and power of attorney. Therefore, you should pay Stamp Duty Charges and Gift Deed Registration Charges In Andhra Pradesh for resale property or gifting an apartment or flat to relatives. Payment Procedure of Stamp Duty Charges and registration fee in Andhra Pradesh  Stamp Duty Charges and registration fee in Andhra Pradesh payment is explained below points: First, you have to fill the application form available on the website of the Registration and stamp department. In this, you have to fill in the details of your property which are registered at the Sub-Registrar Office. This process will reduce your time that will be taken in the office of Sub-Registrar. Submit these details in the required format online. So, the applications can be processed without any delay. Also, the whole process is available online. The Sub-Registrar Officer add the details in the system to create accurate encumbrances. The application has the below information: Type of deed (Sale Deed or Sale agreement, etc.). Buyer and seller full details Details of the property. Property Boundaries. Apartment or Flat Structure. The market value of the property. The final value of property charges. Stamp duty payment charges. After the payment of these Charges, you can book a slot for registering the document at the Sub-Registrar Office at your required time. Later you have to go to the Sub-Registrar Office according to the booked time slot for document presentation.  to fill the pre-registration application form, scheduling a time slot, and pay stamp duty is presented clearly in the following points Submit the below AP Land Registration Documents Online at Sub-Registrar office: The original document with the signs of all parties.  Demand Draft which has full payment of stamp duty, transfer duty (if any), registration fees, and charges of the user. Buyer photo form of the seller and witnesses as per the Section 32A witnesses who can identify the parties and their identity.  Buyer and seller address proofs.  At the sub-registrar office, you can submit any one of the  identity proofs like Aadhaar card Passport Driver’s license PAN Card Ration card Voter ID A photograph of the property Original General Power of Attorney or a Special Power of Attorney with a photocopy Copy of Link AP Land Registration Documents Online. Agricultural properties Web land copy. Copy of Original Pattadar passbooks and title deeds  Verified documents, the challan of actual fee, and e-KYC completion, documents of sub-registrar. You can follow the same procedure for registering your flat/apartment as well. Visit www.propertyadviser.in to know about trending properties for sale in Hyderabad. We guide you with accurate property information such as project construction photos, latest offers, available units, facings, builder info for a better understanding of the project. Our 100% verified property information helps you in decision making. Stamp Duty And Property Registration Charges In AP [Updated] Click To Tweet By: Shailaja K

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expectations-of-union-budget-2020-21-for-real-estate-sector
Real Estate
11 Dec 2019 | 1937 Views
Will Union Budget 2020 Expectations for Real Estate Gets Fulfilled?
The union budget 2019-20 has reported mixed responses from the real estate market in India, lauding measures for affordable housing and infrastructure, as well as the development of rental housing. However, builders and developers are skeptical, that the budget has not addressed the long-term expectations for the industry in terms of status, single window clearance and reforms in the Goods and Services Tax (GST) and have clinched their expectations for union budget 2020 date that is on February 1st, 2020. The Indian real estate sector has its purpose of welcoming the fact that the Finance Minister has announced a range of budget benefits both for builders and home buyers. These measures are expected to boost the housing industry and provide home buyers with plenty of investment opportunities. Although union budget 2019 has its highlights for the real estate, it was not able to address the most pressing concerns of the sector, like an increase in sufficient numbers of consumers and investors returning to the market, excluding affordable housing. Glitches of Budget 2019 & Expectations of Budget 2020 for Real estate Sector Income Tax Slab 2020-21 for First Time Middle-Class Buyers Finance Minister Nirmala Sitharaman, during her first maiden budget, has announced an increase of Rs 3.5 lakh tax deduction cap on the interest paid on home loans approved for the acquisition of the first home purchase up to Rs 45 Lakh in the financial year. It was proposed allowing an additional deduction of up to Rs 1.5 lakh of interest paid on loans leased up to 31 March 2020 in the purchase of an affordable house of up to Rs 45 lakh, noting that interest payable on housing loans was currently permitted as an allowance of Rs 2 lakh. However, some players in the industry have criticized Rs 45-Lakh on the value of affordable taxable houses. Although the sector appreciates the focus on affordable housing and PMAY, the government has at the same time missed the main segment of first-time middle-class buyers who expected a lot from the budget 2019-2020 before they purchased the first house. This has created a considerable ignorance gap for the middle-class housing segment and hence have piped up the expectations for budget 2020 date for real estate. Never-Ending Single-Window Clearance and Industry Status Issue Budget 2019-2020 ignored some significant issues, including real estate industry status and single-window clearance. Developers and buyers had certain expectations that these issues, when taken into consideration, would have made a significant difference in the Housing for All' by 2022. Although the state accorded the industry status for affordable housing in 2017, builders and developers agree that it should apply to the industry as a whole.  Experts say that without the classification of the industry, the use of legal funds by banks and other financial institutions has been problematic for the real estate industry. Single window project clearance is another long-standing request that is considered to be addressed in the budget 2020. Since the developers already need to obtain multiple permits and approvals, with a lack of single-window clearance, it may take 18 to 36 months before any project starts. ITC & REITs Needs an Extra Boost-Up Plans In the previous union budget 2019, the GST council streamlined the criteria on the use of Input Tax Credit (ITC) on under-construction properties. But the complete restoration of ITC was needed by the developers to recover from their ongoing financial pressure. It would have also helped to boost sales since the homebuyers can also share the benefits.  Real Estate Investment Trust (REITs) have already broken several benchmarks in the real estate sector, adding new dimensions. Not only did the cash market expanded, but the flow of institutional funds also increased rapidly. In addition to a few deficiencies, this investment tool needed much more incentives to encourage more investors. The government needs to announce encouraging movements as well as infrastructural developments that can attract further foreign investment in the sector and support the employment sector to strengthen it further. Attention Required for Infrastructural Development & Land Reforms There is no question about the government's priority on the construction of infrastructure. Still, its plan to spend 100 Lakh on infrastructure in the next five years will produce real economic benefits only if a more aggressive execution happens on the ground. Bottlenecks that hamper the growth of infrastructure in the past need to be rectified. The new lower 15 percent tax rate for businesses looking to set up new factories can only be enforced if the land acquisition process is simple and straightforward. Implementing a unique identity number or land UID is expected to increase transparency in the Indian land record system. Thus can boost the mechanism of clearance for real estate projects and can also draw more foreign investments for Indian real estate The Crux of the Matter for Loan Crisis According to Fitch Rating's, with some 10 billion dollars of developer’s loan coming to be paid back in the first half of budget 2020, the fallout could extend to mainstream banks which have borrowed money from the shadow lenders or invested in their bonds. Things have now reached a critical stage, however, because a credit crisis affected shadow banks, both builders and home buyers, as significant borrowers. Although 25 Crore stress funds have been allotted for stalled projects, they are much needed to be utilized to full potential without any delay relieve the situation. The recent decrease in the repo rate, in conjunction with Homebuyers, has further increased new hopes. Homebuyers can now exercise their confidence in raising the cost of higher EMI loans. The Government can announce more tax advantages in accordance with section 80C and can change the income tax sheet in the future budget announcements. This increases the number of prospective homebuyers, as it increases their purchasing trust. Conclusion The real estate market in India is also expected to address the liquidity crisis faced by the government potentially. In September last year, the crisis appeared after a number of its commercial documents, which affected various segments, including the real estate industry, defaulted on significant IL&FS infrastructure loans. Taking all these into considerations, anticipations for union budget 2020 have been increasing among the real estate stakeholders. Want to stay updated with the latest real estate news and find all properties for sale in Hyderabad? Browse PropertyAdviser.in to put an end to your home quest and subscribe to our newsletter to get the daily digest of trending real estate news to your inbox. Expectations of Union Budget 2020-21 for Real estate Sector Click To Tweet By Govi