Mumbai, September 15, 2020: It is surprising, that in a scenario where the suggestion, ‘reduce price of residential real estate’ has been covered by media –be it Deepak Parekh, Nitin Gadkari or Piyush Goel – the state government has instead opted to enhance the Ready Reckoner value. Income tax provisions mean a developer cannot sell at a price point lower than the Ready Reckoner rate, as it translates into taxation burden for both buyer and seller. In this situation, the expectation was that the state government would reduce the value, instead, it has chosen to increase the same. New projects will be impacted too, as the Ready Reckoner value will govern all levies, duties and taxes payable by a developer. One hopes the authorities will consider this and take necessary steps.
Corporate Comm India (CCI Newswire)
Brigade REAP Incubates 76 Proptech Startups, Leading India's Largest Proptech Ecosystem with ₹200 Cr Earth…
New Delhi, November 22, 2024: Dr. Gautam Kanodia has emerged as a visionary leader, redefining…
New Delhi, November 21, 2024: Over the years, Delhi-NCR has emerged as a hotspot for…
~ The Company strengthens the product portfolio with the launch of innovative & ‘Made in…
- NAREDCO Maharashtra and 1 Finance Unveils Comprehensive Study on Mumbai's Real Estate Landscape -…
The announcement marks a major step in offering Flexible Grade-A Office Solutions for Modern Businesses…