Guide For Real Estate Investment

  The Finance Bill 2013 has proposed that purchaser of an immovable property (other than rural agricultural land) worth Rs 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor   According to rules in respect of tax deducted at source, buyer of the property would have to deduct the TDS and deposit the same in Government treasury. Buyer or Purchaser of the property is not required to procure Tax Deduction Account Number (TAN). The Buyer is required quote his or her PAN and sellers PAN. PAN of the seller is mandatory. The same may be acquired from the Seller before effecting the transaction. The Buyer of the property (deductor of tax) has to furnish information regarding the transaction online on the TIN website. After successfully providing details of transaction deductor can: o    Either make the payment online (through e-tax payment option) immediately; o    Or make the paym...

  First-time new homebuyers are faced with lots of burdens of Document’s checking, In which  One  term is there  ‘Floor a Space Index’ (FSI), while everyone speaks about it but it’s not always accompanied by a clear understanding of how it works.   This often leads to questions like when a developer is constructing a building, can they add unlimited floors to it? Or can they make it as high as they want? Can a developer cover the plot 100% by construction? Understanding what FSI is given answers to these questions.   What Is the FSI Meaning? So, what is FSI in construction? The FSI Full form is the  ‘Floor Space Index’. To put it simply, it is defined as the maximum permitted floor area that a developer can build or construct on any given  plot or piece of land area. In other words, it is a measure of the intensity of land utilization in a given area.   How To Calculate FSI? FSI calculation is the ratio of the constru...

The Real Estate Act is intended to achieve the following objectives: 1) ensure accountability towards allottees and protect their interest; 2) infuse transparency, ensure fair-play and reduce frauds & delays; 3) introduce professionalism and pan India standardization; 4) establish symmetry of information between the promoter and allottee; 5) imposing certain responsibilities on both promoter and allottees; 6) establish regulatory oversight mechanism to enforce contracts; 7) establish fast- track dispute resolution mechanism; 8) promote good governance in the sector which in turn would create investor confidence.