Luxury Homes in Panvel

Landscape architecture strives to achieve a harmonious balance between developments by humans and nature. Landscape is also an important factor that people consider, while looking for a house. Landscape spaces can include lush green lawns, trees for shade, water features and their spatial configuration. These spaces not only add visual value to the surroundings but also provide various physical and mental benefits. An ideal landscape is an integral part of a community because it enhances the quality of living. The elements of landscape design such as soft-scape , hard-scape and water are important, to create the right balance. These elements are majorly influenced by demographic factors. Hence, an efficient design needs to be worked upon. Moreover, landscapes must focus on the wellbeing of those who will use it and offer facilities to all age groups – children, teenagers, adults, elderly and disabled. For example, while designing a play area for kids, one must also consider a s...

A few decades ago, a home seeker would have been content with any home that was available within his/her budget. It is also likely that this home seeker would have worked for years, to accumulate the funds for the house. Home buying then, was a luxury that very few could afford. The availability of home loans and defined EMIs, in the 1980s, augmented the growth of real estate in the country, especially in the metropolitan and tier-1 cities, as it brought home ownership within the reach of most tax-payers . With increasing consumer demand and growth in the real estate sector, developers began experimenting, by offering value-added lifestyle amenities like swimming pools, club houses, gymnasiums, imported fittings, Italian marble floorings, video door phones and concierge services, to create stronger demand for their products. With time, such amenities soon became a standard part of their offerings and consumers expected these, as a part of their lifestyle quotient. Adoption ...

Recently, the GST Council slashed the Goods and Services Tax (GST) rate on under-construction homes. With this, home buyers are trying to assess the impact of the rate cut. We look at some of the frequently asked questions about GST on real estate. 1: How are housing properties taxed under the GST? A: Earlier, the GST was levied at 12% with an input tax credit (ITC), on payments made for under-construction properties or ready-to-move-in flats, where the completion certificate has not been issued at the time of sale. “Under the new rules, the GST rate has been slashed to 5% for under-construction homes, without according the benefit of the input tax credit. For affordable housing units, the existing tax rate has been reduced from 8% to 1%. The new measures will take effect from April 1, 2019 onwards,” explains Abhinav Joshi, head of research, CBRE India. 2: Will the absence of input tax credit against construction-related materials and services, increase the prices of proper...

Types of properties that can be inherited in India, by NRIs A non-resident Indian (NRI) or person of Indian origin (PIO), can inherit any immovable property in India, whether it is residential or commercial. They can even inherit agricultural land or a farmhouse, which they are otherwise not entitled to acquire by way of purchase. An NRI can inherit the property from anyone including his relatives. The NRI or PIO can inherit property in India even from another NRI or PIO, subject to certain conditions. The RBI’s permission is necessary, if the inheritance results in favour of a citizen of a foreign state, who is a resident outside India. It is important to note that the person from whom the NRI inherits the property, should have acquired the property being bequeathed, in accordance with the provisions of law relating to foreign exchange, prevalent at the relevant time. So, if the property in question was acquired without obtaining permission from the Reserve Bank of India, ...

A home loan is taken for the purpose of either buying a ready-to-move-in house or for the purpose of booking an under-construction property. Home loans are available for residential, as well as commercial properties. On the other hand, a loan against property is generally taken, for the purpose of raising additional funds for business . The loan against property may be obtained in two forms. It can be a pure loan, under which, a lump sum is paid to the borrower, against the security of an immovable property. Alternatively, a line of credit may be set up in the form of an overdraft facility with a set limit, based on the value of the property and repayment capacity of the borrower. Loans against property may also be obtained for personal purposes like education or marriage in the family. A loan against property can also be availed, to finance the purchase of another property, in case it is not possible to get a home loan against the property, due to any technical reasons like def...

To meet the high costs of living in rented accommodations, employers pay house rent allowance (HRA) to their employees. India’s income tax laws also provide benefits to people who do not own a house and live on rent, without receiving HRA. However, the tax benefit differs, in each case. Tax benefits available to salaried people who receive HRA from their employers You are entitled to tax exemption under Section 10 (13A) of the Income Tax Act, with respect to the HRA received by you, subject to certain limits and conditions. The first condition, is that you should actually be paying rent for a residential accommodation occupied by you. This means that the accommodation should be in a place where you are employed. Moreover, you should not be the owner (sole owner or co-owner) of the accommodation for which you are paying rent. This situation may arise, when the tax payer pays rent to the joint owner of the property, or if the property owned by the tax payer is leased to the...

With respect to assets that are used for the purpose of business, tax payers are allowed to claim depreciation on the cost of acquisition of such assets. The depreciation, under the income tax laws, for such assets is allowed, on the basis of a concept called ‘block of assets’. There are different classes/types of assets, like tangible and intangible. Within the tangible class, there are various categories of assets like plant and machinery, building, furniture and fixtures, etc. For the purpose of taxation, all the assets falling under the same class and for which the same rate of depreciation is prescribed, constitute one block of asset. Computation of profit or loss from sale of business property in an asset block Unlike regular accounting where the depreciation is calculated with reference to the cost or written down value of each asset, the depreciation for a particular block of assets is computed in an aggregate manner. If there are more than one assets in one partic...

Presently, Indian real estate is a very popular investment option for most NRIs. However, since they live abroad, it becomes more important for them to do proper due diligence before risking their money. Important checks for NRIs Nowadays, many Indian developers conduct roadshows abroad. NRIs should not be entirely convinced by impressive presentations and glossy brochures. They should have someone trusted visit the property’s site and check the ground realities. Like all real estate investments, the location of the project should be attractive and should enjoy good connectivity. Pricing is another important issue. “Often, the prices quoted by builders to buyers abroad, are higher than those quoted to domestic buyers. Also, builders don’t offer discounts when selling abroad,” points out Sanjay Sharma, managing director, Qubrex Realty, a Gurugram-based real estate consultancy. In such a scenario, the international buyer must learn the rate at which the project is being sold i...

The Indian real estate sector has witnessed several positive developments over the past few years, with schemes like the Pradhan Mantri Awas Yojana (PMAY), the granting of infrastructure status to affordable housing, 100 per cent tax exemption on the profits for developers building affordable homes, implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA) and the subsidy schemes for first-time buyers of residential properties. The push towards infrastructure development also makes it an ideal time to invest in real estate, as the prices in a locality often increase, after the completion of an infrastructure project in its vicinity. Mumbai’s recent development plan, for example, will enhance the infrastructure in the city, points out Amit Ruparel, managing director, Ruparel Realty. “The increasing number of metro lines, are closing the gap between distant places. The construction of more highways and other infrastructural development, will facilitate real ...

Buying a piece of land, for many, is the first step towards building one’s own home. Hence, it is important to confirm that the land has a clear and marketable title, to avoid falling into legal hassles. While buying agricultural land in India, one has to confirm that there are no disputes or legal hassles and the process of registering has to be hassle-free. Procedures for buying agricultural land vary from state to state. In some states like Telangana, anyone can buy agricultural land, regardless of whether or not they are farmers. However in other states, like Karnataka, only registered farmers or those from farming families can buy agricultural land. Therefore, one should be aware of the rules in the state, prior to buying agricultural land. Given below are some of the points that one should consider, for buying agricultural land in India. Title deed of the land plot The title of the property confirms the seller’s name and also verifies whether the seller has an absolu...

Stamp duty is a state subject and is administered by the respective states. The government of Maharashtra, on March 1, 2019, announced an amnesty scheme with respect to the penalty that can be levied for insufficient payment of stamp duty made in the past. The scheme is available only for certain real estate transactions. Stamp duty in Maharashtra and existing penalty provisions When you enter into any transaction of immovable property, whether it is a lease or sale or mortgage of the property, you are required to pay appropriate stamp duty on the agreement under which such transaction is being done . You are also required to register the document with the office of the registrar. In case adequate stamp duty is not paid with respect to any instrument, the instrument is not accepted as evidence in any legal proceeding. Moreover, such inadequately stamped documents can also be impounded by the judicial authority, as and when submitted as evidence. In order to rectify any s...

In today’s digital world, online buying has become a norm. The online marketplace is so vast that there is hardly anything left out of its ambit . From a pack of noodles, or clothing to even jewellery , almost anything can be bought through online marketplaces. With easy access to mobile data on smartphones, combined with platforms for secure online transaction, consumers have been exposed to a new channel of buying at the convenience of a click of a button. In the case of the real estate industry, consumers are predominantly more accustomed to the old practices of word-of-mouth or visiting the actual site, before making a buying decision. However, this is also slowly changing. With various benefits offered by the online medium for home booking, there is a deviation from the old pattern and a new trend can be seen, where online bookings and payments have risen in numbers. Government policies like RERA give a boost to due diligence With the government enacting consumer-friend...

A lot of research and discussion, have gone into the topic of gender diversity and the role of women in senior positions in companies. More often than not, most of the results pegged that companies with a higher percentage of women in leadership positions, tend to perform better than those with low women representation at senior positions, on a wide range of performance metrics. The real estate industry, which has largely been male dominated with very few women in leadership positions, is slowly acknowledging this fact and is seeing a positive change. Not surprisingly though, as most of the large firms dealing with property are family-run businesses, the reins of the business were eventually passed on to the sons of the family. The construction business, because of the nature of the industry, with long hours on site , having to deal with contractors and workers, again became traditionally male-dominated. Consequently, the investment side also took a natural progression to being ...