All those persons who have carried out real estate transactions during the financial year 2011-12 should carefully consider income-tax aspects connected with these transactions. In the case of all those tax payers who have just purchased the property during the year, for them nothing special is required to be done and that they should claim [Read more...]

By Dhirendra Kumar For many, buying a residential property is the biggest investment they make in their lifetime. Last week, the government released for public comments a draft Real Estate Regulation Bill, which is said to be on its way to becoming a law in the winter session of Parliament. As such, this is a step [Read more...]

Overview In a bold and in all likelihood, a controversial step, the Union Cabinet has finally permitted 51% FDI in Multi-Brand Retail Trade (MBRT) and up to 100% FDI in Single Brand Retail Trade (SBRT) both with Government approval. The existing policy prohibits FDI in MBRT and limited FDI in SBRT to 51%. The Department of Industrial Policy [Read more...]

The draft Real Estate (Regulation and Development) Bill released last week by the ministry of housing and urban poverty alleviation is a forward-looking, well-intentioned policy, aimed to bring transparency in the sector, while safeguarding consumer interest. The Bill envisages setting up a real estate development authority to monitor real estate projects and ensure that in [Read more...]

The recent Supreme Court ruling banning real estate transactions on the basis of Power of Attorney and instead making sale deed compulsory for property sale, is a welcome judgement. The SC verdict that will make secondary market transactions fool-proof by way of checking evasion of stamp duty and black money dealings has once again underscored [Read more...]