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Commercial space - Set for a solution

Pune's office property supply crunch will ease by 2019, predicts Gaurav Nahta,Director,Purple Realtors. Pune's low office space vacancy rate of around six per cent is proving to be a serious challenge for companies seeking large spaces to establish or expand their operations in this thriving city. Pune is currently witnessing a...

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Confusion over compounding fee in Maha RERA rules

Pune There seems to be confusion over the compounding fee under Real Estate Regulatory Authority (RERA) rules, notified by the state government, which has come into effect from May 1. A recent report on Real Estate Regulatory Authority (RERA) Act implementation in states has stated that while the state has largely kept the rules "in line"...

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Cell to keep tabs on illegal constructions in Pune

Pune The PMRDA is set to have a separate cell and machinery to crack down on illegal constructions. At present, 18,000 illegal constructions are under its scanner. New PMRDA chief Kiran Gitte on May 9 said a separate action plan will be drawn to initiate action against these structures. He added that the PMRDA has...

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Aadhaar linked e-registration for property documents soon in Maharashtra

Pune The state Inspector General Registration and Controller of Stamps (IGR) department is awaiting amendments to Registration Rules, 1961, which will enable individuals to go for Aadhaar linked e-registration of property documents from home with just a web cam and a finger print scanner. While e-registration of property documents has been initiated for leave...

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Pune civic body stares at fiscal dependence post GST

Pune Senior civic officials are concerned about the civic body losing its financial independence. "With GST in play, PMC will largely be dependent on state grants, private investment and bonds to complete its ambitious projects. Already the 24x7 water scheme and metro projects have opened doors for private investment. It is a fact that the civic...

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Online property tax collection up 40%, next two weeks to bring in more moolah

An increasing number of Puneiites are opting for property tax payment through online portals this year’s collection reveals. In the last 45 days, the Pune Municipal Corporation collected Rs 286 crore of property tax, of which 40% (around Rs 114 crore) was received via online gateways. Last year the administration was able to collect 30% of...

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Metro gets 10 hectares on Pachgaon Parvati to launch afforestation drive

The Pune metro has been assigned Pachgaon Parvati land for carrying out afforestation in lieu of its project, which will affect greenery along the route. Metro officials have been tasked with the responsibility of planting 10 trees for every tree cut. With the project likely to affect greenery along the route, metro officials had requested the forest department and PMC...

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PMRDA to bar construction within 50 m of proposed metro route

The Pune Metropolitan Regional Development Authority (PMRDA) will implement "no development" zone proposal after floating the request for quotation (RFQ). PMRDA chief Kiran Gitte told TOI that tender finalisation has been postponed by some days and added that Delhi Metro Rail Corporation (DMRC)'s proposal for stopping construction with 50m of the proposed Pune Metro route will be...

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RERA Maharashtra

RERA Maharashtra How Maharashtra worked towards RERA implementation The Government of Maharashtra had released a draft version of rules in December, after which state government had sought suggestions and objections from various stakeholders. After seeking out all the suggestions and objections which the state government received, the final rules were approved and...

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Home buyers canít file complaint against unlisted developers on RERA website

  Pune: Consumers wishing to raise their complaints on the REAL ESTATE AND REGULATORY AUTHORITY (RERA) website will have to wait till their developers register on the portal.   The RERA rules for the state came into effect from May 1, specifying norms for developers, real estate agents and the consumers. Given the fact that the existing...

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TDS on Sale of Property

As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1,...

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The key to Puneís success: Strong rental returns

The property market in Pune has performed well, especially due to the rental income properties in the city, have enjoyed  In the real estate market, a higher average rental in a location normally indicates high demand and low supply of properties in that location. Pune’s property market has shown consistent growth...

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Buying A Property Without A Home Loan? Mind These

Not all loans are bad loans; some offer us a chance to possess something which we could not have possessed otherwise. Home loan falls in that category. If the concept of home loans did not exist, most of us would not be able to buy a property. Despite being a...

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Primary Versus Resale Homes: What Should You Buy?

With new buildings mushrooming everywhere, there is a huge demand for new flats. And yet, most people opt for a resale home. However, taking a call on whether to invest in a new flat or a resale one may be difficult. Typically, new or primary homes are the ones which are acquired...

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3 Reasons Why You Should Consider Renting Over Buying

Becoming a home owner is a dream most of us nurture. You want to turn this dream into a reality as early as you can. This is the reason why the number of young buyers in urban India has seen a remarkable increase in the past two decades. But, is...

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Should You Buy A Home Or Stay On Rent?

A number of financial and non-financial factors influence the decision of buying a dream house. While most people aim to own at least one house in their lifetime, sometimes it can be a smart decision to rent one until the right opportunity comes along. Here are certain factors that can help...

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For Investment Why Hinjewadi ?

One of India ‘s biggest IT park 200+ IT and ITes Companies More than 1.5 lacs employees in Hinjewadi Upcoming Hinjewadi Phase-4 of 988 acres leading to an increase in demand of phase-1 Huge presence of Educational Institutions High demand of rental apartments High Residential Development MIDC and HIA to monitor 22 CCTVs at 6 major...

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KEY HIGHLIGHTS FOR REAL ESTATE SECTOR IN UNION BUDGET 2017

Affordable Housing has been given the Infrastructure status * 1 crore rural houses will be created by 2019 * National Housing Bank to refinance Rs 20,000 crore loans * Pradhan Mantri Awas Yojana to get Rs 23,000 crore * Real estate developers to get tax relief on unsold stock as liability to pay capital...

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Pune Real Estate: The year that was, and the year ahead

2016 did not bring as much cheer to Pune's real estate marketas previous years had. Nevertheless, Pune outperformed Mumbai by between 20-25% in terms of overall sales. The highest-selling category in Pune was mid-range properties priced between Rs 35-50 lakh within the city's municipal limits and its nearby periphery, followed by...

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Why is everyone talking about affordable housing?

Urbanisation and housing reveal a nation’s economic growth and social wellbeing. India’s urban population is growing at an average 2.1% every year since 2015. It is likely to reach 60 crore by 2031 (up from 37.7 crore today). But the growth in housing has been unable to keep pace. Currently,...

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Top areas to invest in property- Pune

  Buying a house whether for living or for investment, will be one of your biggest purchases of your life so every step should be taken with extreme precision. According to the survey conducted and due to several big development projects like metro rail project and proposed international airport plan on...