Latest Supreme Court Judgment on Land Acquisition 2022

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By examining the Ministry of Statistics and Planning’s September 2018 flash report, the top five states where cost overruns occurred as a result of postponed project completion have been identified. Maharashtra topped the list with a cost overrun of Rs 1.99 trillion, delaying the completion of 129 projects. It led to the introduction of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement (Amendment) Bill, 2022. 

The amendment Bill is currently pending in the Rajya Sabha after being approved by the Lok Sabha on March 10, 2022. The amendment Bill has been released for all the major infrastructure development projects undertaken by the central and Maharashtra government, including the one in Mumbai, to speed up project completion and prevent further delays brought on by time-consuming procedures, procedural errors, and natural disasters. 

Bill 2022 amending land acquisition

The collector is granted special authority under Section 40 of the Act to purchase land urgently as required for the defense of India, national security, any emergencies brought on by natural disasters, or any other emergencies with the consent of Parliament, by the government’s directives. 

Two new sections, Sections 40A and 40B, are added to the amendment bill for the development of all infrastructure projects carried out in Mumbai by the Maharashtra government. 

Section 40A provisions 

  • Despite there being no such award, the collector will nonetheless purchase this land. 
  • According to Section 21 of the aforementioned Act, the collector may take possession of the aforementioned land based on the counsel of the Single Window No Objection Certificate Approval Committee after 30 days have passed since the notice was published. The government will then have complete ownership of the land, free from any liens. 
  • The government shall not take possession of such property without first giving notice to the occupier of its intention to take possession for at least 30 days and not more than 45 days. 
  • The collector will offer to pay compensation for the land before taking possession, and if payment is put off, the person who is entitled must still get an extra 2% of compensation each month. 

Section 40B provisions 

  • The government must issue a notice for publication in the official gazette before appointing the Single Window No Objection Certificate Approval Committee in Mumbai’s Metropolitan City. Section 40B (2) of the amendment bill contains a list of the committee members.     
  • After the government requests and submits the pertinent documents, the committee must submit its recommendations within 30 days. The committee should, however, report to the parties involved in the extension the considerations that the committee must consider when recommending a No Objection Certificate under sub-Section 5 of Section 40B (6) of the Amendment Bill. 

 Effects of the Change

The amendment speeds up the Act’s current multi-stage and drawn-out process of land acquisition and infrastructure development. They will benefit from the amendment in the following days:

  • It will assist the government in acquiring land more quickly while preserving the rights of the displaced people and landowners from whom the government will be purchasing the land. 
  • The modification also creates a new committee that separates the various authorities and departments currently involved in the procedure from one another. Establishing a single committee with equal representation that has the power to grant or revoke government approvals could eliminate bias, hold local communities and the environment’s interests, and ensure a transparent process. 
  • Ensuring the fairness of the land acquisition procedure and offering just compensation to the affected parties and landowners. It could foster the smooth start and completion of the necessary and emergency projects in the state. 

It is essential to implement such changes to help streamline the land acquisition process and time-bound project completion, which will result in lower capital costs because of timely acquisitions. It will help the government meet its goals. The committee’s recommendations and the policy and acquisition procedure, ensure transparency and lowers the likelihood of land-related lawsuits. 

Land and Land Reforms Department West Bengal Official Website

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West Bengal’s government unveiled Banglarbhumi, a digital platform for land reforms and records. You can use this portal to search for property and land details like the owner’s name, the property’s dimensions, its precise location, and its estimated value. 

In the regional tongue, “Banglarbhumi” means “Land of Bengal.”

The Banglarbhumi website aims to digitize land records, offer citizens transparent, effective services, and aid in the prevention of fraud-related activities involving land transactions. 

Banglarbhumi Portal 2023: Important Key Details 

Important details about this Portal appear in the table below: 

Particulars Details 
Portal’s nameBanglarbhumi 
URL of the website https://banglarbhumi.gov.in/BanglarBhumi/Home.action 
In charge of The Government of West Bengal’s Department of Land and Land Reforms 
Identifying Data The Bnaglarbhumi Helpline Number is 1800 345 6600. 

What is Banglarbhumi?

Banglarbhumi is the website for West Bengal’s Land Reforms, Refugee Relief, and Rehabilitation Department. Residents can view all West Bengal records and property information on this government portal. West Bengal land records information is accessible on the website https://banglarbhumi.gov.in/BanglarBhumi/Home.action. On the Banglarbhumi West Bengal portal, users can quickly access their Record of Rights (ROR) applications, conversion applications for title transfers of property from one person to another, documents about mutation applications, searches for West Bengal land records based on name, plot information, GRN, plot maps, and other documents about land and land records. 

Users can save time and effort by accessing land information on the Banglar Bhumi Government Land Information Portal. The Bangla Bhumi Land information portal encourages the state’s Revenue Department to be more transparent. 

On this website, you can find information about the property’s current owner and the owner’s name, the plot number, the dimensions and value of the property, and more. The Banglarvhumi 2023 website provides information on land worth 42,159 Mouzas, 4.30 billion Khaitans, and plot information. 

Services for Land Available to Citizens on the Banglarbhumi Portal 

The Banglarbhumi website, which is accessible at https://banglarbhumi.gov.in/, provides access to land information and services related to land records. 

Other land information services, in addition to West Bengal land record search by name, include: 

  • Land distribution
  • ROR application
  • Online land records at Bhulekh West Bengal allow you to search West Bengal land records by name. 
  • Regularly updated records
  • Documents and Map digitization
  • Knowledge of the Plot and Kahitan 
  • ISU management 
  • Education (ARTI and LMTC) 
  • In control of rent 
  • Rental in Thika 
  • India and Bangladesh’s border is defined.
  • Service proposals to the state land use board
  • Additional offerings to citizens 
  • Filing public complaints 
  • Getting Ready, Updating, and Maintaining

How do I sign up on the Banglarbhumi website?

To access citizen services offered online by the Banglarbhumi Land and Land Reforms and Refugee Relief and Rehabilitation Department portal, such as the West Bengal land record search by name, citizens must register at https://banglarbhumi.gov.in/BanglarBhumi/Home.action. 

Step 1: Open the “Sign Up” button on the land registration website https://banglarbhumi.gov.in/. On the Banglarbhumi land information page, you will find the “Sign Up” button in the top center. To access the “Citizen Services” section, create a profile on the BanglarBhumi Land Records Portal and register as a “Citizen.”

Step 2: The public registration form is now accessible on the Banglarbhumi government website. On the Land and Land Banglarbhumi form, fill out all of the fields, including: 

  • Name 
  • Parent or guardian’s name 
  • Municipality 
  • Local Government PS District 
  • OTP registered a phone number and received an email. 
  • Address
  • Information on the password and captcha. 

Complete the online form to sign up for BanglarBhumi and get access to features like name-based West Bengal land record search. 

Advantages of the Banglarbhumi Land Records Portal 

The Banglarbhumi Land Reforms portal makes buying real estate in West Bengal. Apart from the name-based search option for land records on Banglarbhumi, there are many benefits for citizens who want details about West Bengal’s land records but do not want to visit government offices. Below are some advantages for your convenience: 

  • Anyone, anywhere, at any time, can use this portal to access all land and land reform information, including name-specific West Bengal plot information. Utilizing the West Bengal land records search by name method is one quick way to locate the required data. 
  • Through the Banglarbhumi portal, you can obtain information, including West Bengal Khaitan plot information. 
  • The Banglarbhumi land information WB portal is reachable f anywhere in West Bengal, regardless of distance. The same when searching for specific individuals in West Bengal land records by name. 
  • West Bengal’s land records are open and accessible thanks to the Banglarbhumi Land Information WB portal. 
  • The West Bengal land record search by name function on Banglarbhumi simplifies the selling or purchasing of real estate. 

Plan Of A Building Can Be Protected By

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It is disappointing that after you showed your model homes or custom floor plans to potential clients. Unfortunately, this occurs far too frequently in the residential construction sector. However, by being aware of the copyright protections in place and taking extra care and precautions during the initial design stage, builders can better position themselves to deter or even stop customers from copying their plans. You can safeguard yourself from unwanted, time-consuming, and potentially expensive copyright infringement claims by having some knowledge of copyright laws. 

What is Protected? 

Any original expression fixed in a tangible medium stands by copyright law. It means that, in general, copyright law protects anything ORIGINAL that you create by drawing, writing, typing, painting, recording, or creating something digitally as soon as you put it on paper, save it to the “cloud,” or even just draw it on a napkin. It includes any unique floor plans, illustrations, and sketches you create. Creating a floor plan will grant access to a unique one. 

To obtain copyright protection, remember that your plans must be original or distinctive in some way. Instead of using custom plans created by a different party or replica of a unique house you visited, the designs should be your creation. The distinctive, non-functional components of your designs offer copyright protection. The plans you want to protect should include more than just the practical, typical layouts in all “cookie-cutter” home plans. Unless there is significant customization, it is unlikely that the typical split-level starter home will include many items covered with copyright. 

Why is this Crucial?

Possessing copyright gives you the sole authority to build the plans, as well as 

  • (i) copy them, 
  • (ii) create other custom plans based on them
  • (iii) Most importantly, produce copies of them.

You and you alone have control over a copyright if you own it. Without your consent, the customer who toured your custom-built spec home or looked at your floor plan at the home show can’t recreate your plans or build the same house without violating your copyright and causing you harm.

How Can I better Safeguard myself? 

Even with these safeguards at your disposal, you should still think about taking extra measures to alert others to your rights in the plans after their development. 

Write it down. 

The copyright for the plan belongs to whoever produced or sketched it out. If you frequently hire outside architects or engineers to create your drawings and plans, problems may occur. You must confirm in writing before the development of the scheme begins with the third party that all ownership in the designs, including the copyright, is a work for hire and is assigned to you if you have an original idea or plan that an artist, architect, or engineer helps you finalize. 

Like this, you should consider establishing ownership of the plans with your prospective client by signing a Design Agreement. The client may claim ownership of or joint ownership alongside you of the ideas if they are working with you to develop a unique, customized plan. Although you might want to license the design or build homes with features similar to other people, the customer might be allowed to use the blueprint to construct their own home. The rights to the designs have to be made clear in a signed, written agreement with the client to guarantee that you have the copyright. 

Plan Registration

Make it a habit to submit your plans for approval to the US Copyright Office. Online registration is available. Although copyright registration is not required to win a copyright strategy, it does act to inform others of your rights and provide documentation of the time of the creation of the design. Registration is also necessary to file an infringement lawsuit in Federal Court. You also have the chance to obtain additional remedies like statutory damages, court costs, and attorneys’ fees if you register before someone copies your plans. 

Implement Copyright Notices

Customers frequently ask another architect or builder to use the plans you gave them. You can persuade third parties to think twice before copying or using your designs without first being in touch with you by including a copyright notice on all copies of your plans. The copyright notice need only include your name, the date you created the procedures, and the phrase “All Rights Reserved” in the footer of each page. The plans should include a disclaimer that says they can only be copied, duplicated, or used with your prior written consent. 

How Can I Stay Out of Trouble? 

You should take precautions to ensure that you do not infringe on the rights of the other party’s protected works, just as you should protect your plans. 

Ask about the origin of the country’s plans. 

If a client, architect, or other third party gives you any plans, sketches, or drawings and asks you to build something for them or finish the designs for their property, be sure to ask where they got the plans from and if you can, them to confirm in writing that they have the right to use them and that they will hold you harmless if they don’t. If you copy someone’s original third-party plans, even if you are unaware of the source, you might find yourself accountable for copyright infringement. If the designs contain the logo or name of any other architect, or if it appears that such information has disappeared, proceed with caution and conduct further research before using the plans. 

Legal Variations cannot stop infringement. 

Remember that infringement requires that the plans be substantially similar to occur. Therefore, simply altering the size of a room or moving a window or door or two in an original custom plan without the copyright holder’s consent usually will not prevent a court from finding that you infringed on the original work when building or developing designs from an existing set. It is a general misconception within the industry. 

Even though copyright law and your rights are frequently ambiguous subjects, the information above will better prepare you to protect your intellectual property assets and the money you’ve invested in distinctive custom home plans. 

Commercial vs. Residential Property

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Real estate has long been regarded as a trustworthy investment because it enables people to amass wealth and generate passive income. Commercial and residential real estate investing are the two primary market segments. 

What is Commercial Property? 

In India, properties utilized for commercial purposes are commercial property. It includes workplaces, shops, hotels, warehouses, and other commercial and industrial structures. In India, businesses frequently lease or rent commercial properties, generating income from rental payments. Location, rental yield, infrastructure development, and general market conditions are just a few examples of the variables that affect the value of commercial real estate. 

What is Residential Property?

In India, residential property refers to properties used mainly as residences. It covers single-family homes, condominiums, townhomes, and gated communities. Individuals or families purchase residential properties in India for their use to rent. Location, amenities, connectivity, demand-supply dynamics, and property condition are just a few of the elements that affect residential real estate value.

Rental Income for Commercial vs. Residential Property

When contemplating investing in real estate, rental income is a crucial factor. Property buyers are frequently perplexed over whether investing in a residential or commercial property would yield a higher return on their money. Senior real estate expert Arvind Nandan notes that the general asset selection principles, such as the property’s location, quality of construction, age, and usage, are the same whether the property is residential or commercial. “Remember a few things when you consider investing in terms of the expected rental income for residential versus commercial property. Commercial properties have longer lease terms than residential properties, which typically require annual leases. Due to the frequent tenant turnover, vacancy risks are higher in residential properties. Property buyers should, therefore, consider the qualitative aspects of these two segments before deciding between leasing commercial or residential property, the expert advises. 

Commercial vs. Residential Properties: Rewards vs. Risk 

Tax Advantages: Rental income from commercial and residential properties is subject to taxation. However, under Sections 24 and 80C of the Income-Tax Act, real estate acquired with a home loan is eligible for tax breaks. 

Because residential properties experience frequent tenant turnover, higher maintenance and upkeep expenses, and lower returns, risk and volatility may be higher in residential properties. Commercial real estate provides reliable, long-term renters with steady income streams. 

Both entering and leaving an investment aren’t with illiquid assets. A portfolio of commercial properties would be easier to create with Real Estate Investment Trust (REIT) regulations. Building a portfolio of commercial properties would be easier under Real Estate Investment Trust (REIT) regulations than acquiring residential ones. Additionally, because there is a much higher demand than supply for Grade A pre-leased assets, they are more liquid than residential properties. 

Before deciding whether to invest in residential or commercial property, it is crucial to factor in the location, investment amount, and tenure in addition to the above factors. 

Investment in Residential Property: Pros and Cons 

Benefits Drawbacks 
Cheaper Entry Fee. Low rental income and yields. 
There’s no minimum size available. Investment in furnishings to make it affordable to rent
Loan applications are widely available The lease will be of 36 months. 
Leasing procedures are typically much quicker. 
As compared to commercial properties, returns last for a short period. 

Investment in Commercial Properties: Pros and Cons 

Pros Cons 
Higher rental yield returns Commercial property capital values typically exhibit longer-term stability. 
Possible longer-term leases of up to nine yearsFor economic viability, the property might need to meet a minimum size. 
Leasing is available in either a bare or warm shell. Selling is challenging due to the absence of buyers as there could be. 
Commercial values are not very volatile. 

What Is Residential Property?

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Residential property is any building or unit zoned and intended for use as living space. It is one of two types of general estate, the other being commercial property. Residential property is typically owner-occupied, but it’s not always the same. According to industry standards, any property with less than five units not for commercial use is residential. Commercial properties are more expensive and have a mix of residential and commercial use. 

India has residential properties to suit a variety of lifestyles, preferences, and budgets. Understanding the various types of residential properties available is essential for making an informed decision, whether you are a first-time homebuyer and investor or looking for a second home. This blog will look at the various types of residential properties available in India and assist you in deciding which one is best for you. 

Types of Residential Properties 

Floors for Builders 

In low-rise buildings, builder floors are self-contained residential units. A different person or family owns each floor. Builder floors combine the convenience of shared infrastructure, such as water supply and security, with the benefit of independent living. 

Gated Communities 

Residential complexes with controlled access and shared amenities are known as gated communities. They provide a mix of apartments, villas, and row houses in a secure setting. Landscaped gardens, clubhouses, sports facilities, and 24-hour security are popular features of gated communities, which provide a holistic living experience. 

Plots 

Plots are parcels of land that are available for sale for residential use. Buying a plot allows you to design your own home. It also lets you choose the type of construction, layout, and materials you want. 

Apartments 

Apartments, also known as flats in India, are the most common type of residential property. They are usually part of multi-story buildings with individual units. Apartments come in different sizes, from small studio apartments to large penthouses. Furthermore, they frequently include shared amenities such as parking, security, and recreational facilities. 

Independent Houses 

Independent houses, bungalows, and standalone houses are single-family homes with no common walls. As a result, they provide increased privacy, freedom, and space. Independent houses are ideal for those seeking exclusivity and the ability to personalize their home. Individual homes are for those seeking exclusivity and the ability to personalize their home. 

Villas 

Villas are luxurious standalone properties that provide plenty of space, modern amenities, and a high level of customization. They frequently include private gardens, swimming pools, and exclusive amenities. Villas offer a luxurious living experience and are popular among wealthy homebuyers. 

Reasons to Invest in Residential Properties 

Real estate is an excellent investment option because it can generate passive income without triggering income tax provisions. Investing in residential properties ensures that your long-term returns are higher. A residential property’s value rises over time, making it an effective strategy for beginning to accumulate wealth. 

Here are some reasons to invest in residential properties 

Increased and consistent rental income

The vast majority of home investors’ per capita standard of living has risen due to the rise in rental income. Home buyers can earn substantial rental income, leading to a peaceful life. The housing rental market is increasing the country’s economic engine, and any economic development will result in higher rents. As a result, even if you raise the rent, there will always be a supply of tenants. 

Affordability 

Residential properties are known for their competitive pricing, which boosts interaction between potential buyers of flats and apartments. The absence of a business incentive is one of the major distinguishing features of residential housing. The lack of profit-driven behavior stabilizes the housing market because developers know that raising apartment prices will result in less demand. 

Additionally, it is essential to understand how to invest in residential properties, monitor upcoming real estate market trends, and watch for the growth of contemporary infrastructure and transportation options.  

Tax benefits 

Residential properties are exempt from taxes and GST. Furthermore, income from investments in residential property is not subject to self-employment tax. But to be cautious, ensure the appropriate consultations occur with tax professionals before investing your money in any property. 

Investors can reliably grow their savings without risking any risks by investing in residential real estate, which gives them a sense of security. More security during trying times and protection for your investments are home. 

Conclusion 

Your lifestyle, preferences, spending power, and long-term objectives will all play a role in helping you choose the ideal residential property in India. Independent homes and villas offer more privacy and customization options than apartments while providing convenience and shared amenities. Gated communities offer a safe and well-equipped living environment, whereas plots let you create a home that is uniquely yours. Builder floors strike a balance between individual freedom and communal facilities. 

Write Any Two Reasons For Land Degradation Today

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Land, like air and water, is a critical resource for humanity. Land degradation is a global challenge that affects everyone through food insecurity, higher food prices, climate change, environmental hazards, and the loss of biodiversity and ecosystem services. Land degradation is occurring alarmingly, contributing to a dramatic decline in cropland and rangeland productivity worldwide.  

In the absence of immediate action, land degradation will worsen, which is one of the world’s most pressing environmental issues. Globally, approximately 25% of total land area has degradations. Land degradation releases soil carbon and nitrous oxide into the atmosphere, making it one of the most significant contributors to climate change. Scientists recently warned that 24 billion tons of fertile soil went to waste due to unsustainable agricultural practices. If current trends continue, 95 percent of the world’s land areas may be degraded by 2050. 

Land degradation affects 3.2 billion people globally, primarily rural communities and smallholder farmers. With rising demand for agricultural products such as food, feed, fiber, and fuel, the world population will grow by about 35% to 9.7 billion by 2050. However, pressure on global resources is increasing due to other factors, including agricultural production systems that have become less resilient to biodiversity loss and natural changes such as climate variability and extreme weather events. Climate change exacerbates variations in crop yields and income, threatening agroecosystem resilience and the stability of food production systems. 

The problems are especially severe in the world’s driest regions. Dryland landscapes cover roughly 40% of the world’s land area and are home to two billion people. Most of the world’s dryland people live in developing countries, where women and children are especially vulnerable to the effects of land degradation and drought. 

Reasons for Land Degradation

Growing Demand: As demand for food, fodder, fuel, and raw materials rises, so does land pressure and competition for natural resources. It affects land use, resulting in overgrazing and conversion to other land uses.  

Unsustainable agricultural practices: Agricultural occupies approximately 141 million hectares of land in India. Agriculture’s poor land and water management practices have significantly contributed to land degradation. Irrigation and high chemical use (fertilizers, pesticides, etc.) contribute to degradation. 

Marriott Executive Apartments Hyderabad

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Marriott Executive Apartments Hyderabad is the company’s second-serviced apartment in the country, after the first in Mumbai. The MEA Brand is today’s jet-setting executive and is frequently on the move for extended periods. Staying in MEA differs from a typical hotel stay. 

Location of Marriott Executive Apartments in Hyderabad 

MEA is at the top of the SLN Terminus. Marriot has its entrance, which is on the left side of the shopping center. Marriot is in Cyberabad, with easy access to the Financial District and Gachibowli, and near the Mindspace and Ascendas IT Parks in Hi-Tec City. 

Rooms at Marriott Executive Apartments in Hyderabad 

MEA offers three different types of rooms, with the lowest being a studio and the highest being a 2-BHK apartment. The apartments either have a city or a garden view. The city view provides a bird’s eye view of Hyderabad’s cyber city. Even the concrete jungle appears colorful and serene from a higher elevation. The Hyderabad Botanical Garden spans over 200 acres of lush green landscape and is adjacent directly to Marriot. Now imagine waking up to the view. Isn’t that luxury?

The main advantage of staying in Executive Apartments is the size of the rooms. A 1-BHK apartment is 915 square feet in area. The 2 BHKs can be up to 1300 square feet, so it’s significantly more space than most deluxe suites. Each apartment has one or two bedrooms, a living room, a kitchen, a walk-in closet, and a utility room. The rooms in MEA are strictly non-smoking, and there is a hefty penalty for doing so. Those looking for a non-smoking room can upgrade to a room with a private, open-air balcony. Pets are not permitted. 

Amenities in MEA (Marriott Executive Apartments)

Unlike traditional hotels, Executive Apartments aim to allow guests to stay with their families for years rather than months. Every apartment has an incredible amount of functionality and convenience. Both the living room and the bedrooms have televisions. In addition to the king-size bed, you can request a rollaway bed or a crib. There is also a table for four, a sofa, and a chair with an ottoman in the living room. The bathroom has both a shower and a bathtub. 

The kitchenette has a two-stove induction and electric chimney, a 300-lb fridge, a microwave, a toaster, and other amenities. Guests can either request that the housekeeping staff do the dishes for them or use the dishwasher in the kitchen. The utility room has a modern washer and dryer. Other amenities include an iron, an ironing board, and a hair dryer. 

You can do your grocery shopping at SPAR or let MEA handle it. Marriott also offers cooking classes for long-term guests, demonstrating how to use local produce ingredients. The kitchen can also help with the cleaning and chopping the vegetables. The Marriott lobby has a small 24-hour grab-and-go market that sells snacks, staples, ice cream, and wine. In addition, it is open to non-residents, so if you need pasta or snacks late at night, you can get them there. Everything has an MRP. In addition, unlike in hotels, you can have food delivered to your room via delivery apps such as UberEATS and Swiggy. 

On-site recreation options include a gymnasium and a swimming pool, with more on the way. Residents can register with partner golf clubs such as Hyderabad Golf Club and Golconda Golf Club. Residents can walk or jog through The Botanical Garden’s lush greenery or work up a sweat at the Palapitta Cycling Park. Both venues are close to the hotel, and Marriott bears the costs on behalf of the guests. SLN Terminus also houses several restaurants and bars and has entertainment venues such as Escape Hunt and Platinum Movies (which will open soon). Residents can also get special discounts at other Marriott F&B locations throughout the city. MEA’s team also organizes themed community gatherings for residents. 

Dining 

Aside from your room, the terrace is where you will likely spend most of the days of your stay. And it is stunning. The Marriot Executive Apartment’s USP is its strategic location, and the terrace emphasizes this. During the day, it is breezy and serene. After dusk, however, it becomes magical. 

The terrace is home to Mazzo, MEA’s only in-house dining option. Throughout the week, Mazzo serves a breakfast and dinner buffet. On Sundays, there is a lavish brunch. Mazzo offers bento-box-style quick meals for lunch on weekdays. Every day has a unique theme. I went on a Friday and had the chance to try the Thai meal box. While the soup was forgettable, the Satay and Red Curry were excellent. 

The terrace’s far end is being converted into an open-air cocktail lounge. The cocktail menu is still in the works. We sampled a variety of them. The mimosa was delicious, as was a tequila-based concoction called Bulldog; however, the whisky sour was underwhelming. 

Real Estate Investment Trust In India

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Real Estate Investment Trusts (REITs) are entities that own, operate or finance income-generating real estate.

REITs are derived from mutual funds. It can be a great way for investors to pool their capital. REITs make it possible for investors to earn dividends from real estate investments without worrying about having to buy, finance, or manage any properties themselves.

FEATURES

  • A REIT must invest at least 75% of its assets in cash, treasuries, or real estate, according to the SEBI regulation.
  • REITs must pay shareholders dividends that are at least 90% of their taxable income.
  • Investors can get monthly dividends and/or interest payouts, providing consistent income, while also receiving capital gains through the sale of REIT units on stock exchanges.
  • REITs trade on public markets; they are simple to buy and sell, which helps to offset some of the traditional real estate disadvantages.

Advantages of REITS

  • Liquidity: Most of the REITs trade on public stock exchanges, which are easy to buy and sell, which adds to their liquidity aspect.
  • Diversification: REITs allow their investors to diversify their real estate holdings, as REITs are usually traded on stock exchanges.
  • Balanced Dividend Income: It is said that investing in REITs can provide substantial dividend income as well as a stable capital appreciation for investors over the long term.
  • Transparency: REITs are required to file financial reports that are examined by professionals as they are regulated by SEBI, which allows investors to be aware of information like taxation, zoning, and ownership. This makes the whole process quite transparent.
  • Safety: Investing in REITs makes investors accrue risk-adjusted returns and steady cash flow.

Limitations of REITS

  • No Tax Benefits: The dividends earned from REITs are subject to taxation, so when it comes to tax savings, REITs are not much help.
  • Market-linked risks: REITs are liable to be influenced by market movements, and this can be a major risk for investors, as they may receive less than they originally paid for their shares if they sell them on the public exchange.
  •       Low Growth Expectations: The acknowledgment of capital in the case of REITs is a bit low because they mainly return 90% of what they have invested to the investors and the rest, 10%, is reinvested in the venture.

Factors to Consider While Investing in REITs

  • Portfolio Occupancy Percentage: You should find out what percentage of the completed area is rented out. The occupancy rate is a good indicator of the stability and success of the portfolio.
  • Tenant Quality and Sectoral Diversification: A strong tenant in a booming sector (IT, Pharma, Manufacturing, etc.) matters, as that reduces vacancy risk as well as the risk of paying rentals late.
  • Number of Tenants: The larger the number of tenants, the more diversified you are as an investor.
  • Geographical Diversification of Portfolio: REITs owning assets in different micro markets or cities are better.
  • Dividend Yield: This shows the health of the managing entity and the portfolio.
  • Past Stock Performance: Evaluate past performance and increase in stock price over one year, six months, and three months.
  • Growth in Revenues and Profits of the REIT: There are some big differences due to the accounting treatment of the property.
  • WALE (weighted average lease expiry): This is the average lease tenure remaining for the tenants occupying the buildings that make up the REIT.

Risks Involved By Investing in REIT

  • Liquidity Risk: Public REITs allow the investors to sell their shares on the public exchange market, but the investments are less liquid in comparison to the other investments in the market as the liquidity is only provided through the fund repurchase offers and there is no inferior market for buying and selling the properties.
  • Financial Risk: The investors decided to buy securities with borrowed funds. The use of the financing can cause the REIT to experience additional expenses and increase the fund’s losses in the event of underperformance.
  • Market Risk: As we discussed above in the article, market risk is one of the major limitations and risks of REITs. The investors may receive less in comparison with what they have paid originally if they sell their shares in public exchange.

4 ways of earning from the REIT

Interest is taxed as per the income tax slab.

Dividends: Some are taxed, and some REITs are not taxed.

Amortization of SPV (return of capital)—non-taxable

⦁Capital gains

Short-term (36 months): 15% of capital gains

Long-Term (>=36 months): 10% of capital gains, over 1 lakh.

Popular REITs in India

Embassy REIT

Embassy REIT owns and operates a 42.4 million square foot (“MSF”) portfolio of eight infrastructure-like office parks and four city-center office buildings.

Brookfield India Real Estate Trust (REIT)

Brookfield India Real Estate Trust (REIT) is a commercial real estate vehicle established in India.

⦁ Properties in Mumbai, Kolkata, Gurugram, and Noida

⦁ In the NCR, 56% of its total assets are located.

⦁ Tenants are blue-chip companies like Accenture and TCS.

⦁ Debt is relatively high at 7.15%, but it’s coming down.

Mindspace REIT 

K Raheja Corp Group is the sponsor of Mindspace REIT. With a total leasable area of 30.2 m2, it has a solid portfolio of office spaces across Mumbai, Pune, Hyderabad, and Chennai. Mindspace Business Parks REIT, which is sponsored by K. Raheja Corp. and Blackstone Group,

Embassy REITBrookfield India Real Estate Trust (REIT)Mindspace REIT 
Gross Distribution Yield (The year 2023)8.38%9.12%5.96%
Interest Taxable Taxable Taxable 
Dividend Yield  (The year 2023)₹ 26.56/-₹25.3/-₹317/-

Which Is The Best REITs to Invest In?

These three trusts are reputable, well-managed REIT trusts in India with comparable long-term growth prospects. Additionally, they make some resounding claims regarding their financial standing.

But if we carefully examine these REITs’ performance metrics, we can see that some of them perform better than others.

Brookfield REIT has the highest occupancy rate and dividend yield of the three trusts. In comparison to Mindspace, Brookfield, and Embassy REITs are more significant in Bangalore (74% of GAV) and NCR (67% of GAV), while Mindspace is more diverse throughout all four main cities. In comparison to other REITs, Mindpace REIT has the largest tax-free distribution (92%). Of the others, its LTV (16.8%) is the lowest.

The perception of an investor may have an impact on the choice. The Mindspace REIT is a well-diversified trust with the largest tax-free distribution that is suitable for HNIs as a good long-term option if you are conservative and take debt investors. If you want your investment to grow in value, go with Brookfield REIT. Taking into account all the significant data, BRIET has a greater likelihood of growing during the following two to three years. Analysis of all the data throughout the years reveals that Brookfield REIT has experienced superior growth and respectable cash flow stability. The Capitalmind figure below demonstrates that, of the three trusts, BRIET is the best choice.

Final Conclusions:

Like a coin with two sides, REITs offer certain benefits and drawbacks. Although it carries some risk, investing in REITs can be lucrative. If you are considering investing in REITs, PropertyWala advises that you check over the research we have done for you to make your task easier. It is highly important to consult an advisor before investing.

Right To Fair Compensation And Transparency In Land Acquisition

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The “Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013,” also known as the Land Acquisition Act, 2013,” the LARR Act, or the RFCTLARR Act, was enacted by the Central Government and took effect on January 1, 2014, repealing the colonial Land Acquisition Act of 1894 (the “Old Act”).  

Act’s necessity 

  • Fair compensation is required to protect the property rights of people whose land is purchased, as it ensures people receive fair compensation for the value of their land and any potential damage to their livelihood. 
  • Preventing Exploitation: Transparent procedures and just compensation help to protect landowners, especially those who may be in financial difficulty or are unaware of the value of their property. 
  • Protecting Social Justice: A strong emphasis on social justice principles to prevent evictions of vulnerable populations. It necessitates the implementation of appropriate rehabilitation and resettlement procedures, providing impacted individuals with alternative means of support, housing, and other facilities. 
  • Fostering Public Trust: Transparent and accountable processes increase public trust in the government’s decision-making. When land acquisition procedures are transparently and equitably, the government, landowners, and impacted communities can avoid problems. 

Features 

  • Application to Private Players such as Industrialists: Land can be purchased for “public purposes” as defined by the Act, such as infrastructure projects, public-private partnerships, and military, navy, and air force strategic goals. To purchase land for public-private co-ops or on behalf of private companies carrying out public functions, the government must obtain approval from 70% and 80% of the affected households, respectively. The rule on rehabilitation and resettlement must also apply if private actors acquire land above the amount set by the relevant government through informal negotiations. 
  • Rehabilitation and Resettlement: The Rehabilitation and Resettlement Package under the Acts is more comprehensive with its components. In addition to monetary compensation, it includes provisions for employment, the allocation of alternative housing units, another piece of land, and other entitlements. It also refers to infrastructure facilities at the new location. In addition, when property purchases of more than 100 acres occur, a Rehabilitation and Resettlement Committee consisting of representatives from various stakeholders is formed to oversee and carry out the Rehabilitation and Resettlement Clause. 
  • Compensation: As the title suggests, the most prominent aspect of the New Act is fair pay. The act establishes a system to ensure a minimum level of compensation, which includes payments of 1 to 2 times the market value of the real estate, the value of the asset tied to the land, and Solatium. Solatium refers to the sum paid in addition to the compensation, which is 100% of the Compensation Amount. The initial landowners must receive a minimum payment under Section 26 of the Act. This compensation involves calculating using a multiple of market value. Depending on whether it is rural or urban, the market values the cost of living one or two times. However, the amount of compensation is far more than under the Old Act. 
  • Consent: When the government purchases land for public use and directly operates the land bank, the landowners’ participation or approval is not required. When purchasing property for the start-up of private companies, the consent of at least 80% of the affected families is essential. In a public-private partnership, 70% of the affected families must approve the land purchase process. The statute requires that 20% of the proceeds from the sale of the acquired land or any part of it be paid to the original landowner or their legal heirs to prevent profiteering. 

The Act’s Drawbacks 

  • High Compensation Costs: The Act requires that compensation for land acquired be at least four times the market value in rural areas and twice the market value in urban areas. It can be a significant financial burden for the government and cause delays in land acquisition projects. 
  • The Act is a complex and lengthy process that can make it difficult for the government to acquire land quickly and efficiently. It can also cause delays in infrastructure projects. 
  • Lack of Transparency: The act fails to provide adequate transparency in the land acquisition process. It can lead to corruption and abuse of power by government officials. 
  • Inadequate rehabilitation and resettlement: The act doesn’t provide adequate recovery and resettlement for those displaced by land acquisition. It can cause social unrest and conflict. 
  • The Act fails to consider the social and environmental consequences of land acquisition. 
  • The Act does not provide adequate safeguards for tribal and other marginalized communities’ rights. 
  • The Act does not address the judiciary’s role in land acquisition disputes. 

The Future 

  • Involvement of impacted communities, landowners, and other stakeholders in decision-making: The government can ensure that communities, landowners, and other stakeholders participate meaningfully in decision-making. Holding public hearings, meetings, and consultants to gather feedback, resolve issues, and incorporate them into land purchase and resettlement plans. 
  • Run education campaigns and activities to assist government officials, affected communities, and other stakeholders to enhance their capacities. Inform them of their rights and entitlements as the procedures for acquiring, rehabilitating, and resettling land. Improve understanding of the obligations for transparency and equitable remuneration. 
  • Tracking and Appraisal: Implement a dependable auditing and appraisal mechanism to ensure that the requirements for transparent hiring and remuneration are met. Regularly assess the status of land acquisition initiatives, rehabilitation efforts, and compensation payments. Any discrepancies or flaws need to be rectified with corrective action and accountability. 
  • Technology: Use technological platforms and digital tools to improve transparency, streamline procedures, and expedite the land purchase process. Implement online portals for information distribution, application submission, and compensation payment tracking. 
  • Law Review and Amendment: Conduct a thorough examination of the current land acquisition laws and regulations to identify any flaws and potential areas for change. In light of the review, consider amending the legislation to improve the clauses relating to transparency and equitable pay. 

Why Is Land Considered An Important Resource

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Along with supporting economic and cultural activities, supplying food, shelter, and natural resources are some other aspects of the land’s value as a resource. This blog will discuss why land is a valuable resource and how it affects human society and the environment. 

Human Survival Requires Land 

Food, housing, and natural resources are the three things that land most crucially provides for human survival. Most of the world’s food exists through agriculture, so fertile land is essential for growing crops. In addition, the land offers forestry, fishing, and cattle, all of which lead to the generation of food. Shelter is another fundamental human need, so the land serves to build homes, infrastructure, and other structures that provide shelter from the elements. 

Financial Activity 

To support economic activity, the land is necessary. For instance, using land for forestry, mining, and agriculture can produce significant financial and employment benefits. The land is also used for industrial and urban development, which can stimulate job growth and economic expansion. Due to its growth potential, land is a valuable investment in many countries. 

Social and Cultural 

Land is necessary for all economic, social, and cultural activities. Due to its frequent connections to feelings of identity, belonging, and history, the use of land to define cultural and political boundaries is widespread. The land is used for various religious and spiritual rituals because it is sacred to many cultures and societies. 

Ecosystems and Biodiversity

Another aspect of the value of land as a resource is its value to biodiversity and the health of ecosystems. The land provides a habitat for plants and animals and maintains the flow of water and other resources required for life. The land is also crucial for reducing global warming and controlling the planet’s temperature. By absorbing carbon dioxide from the atmosphere, it achieves this. 

Last but not least, scarce land is seen as a valuable resource. The demand for land is rising as the world’s population expands, and resource competition is growing more intense. Deforestation, land degradation, and other environmental degradation are the results of this, and they hurt both the environment and human society. 

Agriculture Land

The land is a vital resource for agriculture because crops and cattle need it to grow and produce food.  Agriculture is a factor in the economic development of many countries and provides food for nearly every person on Earth. It says a lot about how important land is to agriculture, and it frequently serves as one of the most valuable assets for investment and development. 

The land is used for agriculture, which includes raising livestock and growing crops, and these two activities produce essential food for human consumption. The quality of the land and whether it is suitable for growing particular crops can significantly impact how profitable a specific farming operation is. A piece of land ideal for agriculture depends mainly on its fertility, the amount of rainfall it receives, and its climate. 

Forestry land

As the foundation for growth in trees, a vital resource for human society, the land is crucial to forestry. Forests provide many benefits, including making paper, timber for construction, fuel, habitat for wildlife, recreational opportunities, and carbon sequestration. 

The land is managed for forestry to encourage the development of trees and the production of forest goods. It frequently entails growing specific tree species compatible with the soil and climate where they will grow. Forestry may help with the production of wood products and the preservation of biodiversity and ecosystems. Additionally, it can manage water flow and mitigate the effects of climate change. 

Furthermore, forests provide economic benefits, such as indirect benefits for the overall economy with employment and income for those working in the forestry sector. 

For instance, forestry may provide the raw materials for construction, furniture fabrication, and paper production. Through the facilitation of outdoor activities like hiking, camping, and hunting, it can also benefit the tourism industry. 

Industries Land

The land is crucial to various industries, such as manufacturing, energy production, and mining. Companies use the land to produce goods and services, so the land that is accessible can strongly influence how prosperous industries are. It says a lot about how important land is to various fields that it frequently appears as one of the most valuable assets for investment and development. 

Construction of factories, storage facilities, and other structures necessary for making goods occurs on the land in the manufacturing industry. The availability of suitable land, which is frequently close to the existing transportation infrastructure, is crucial for the success of manufacturing operations. Furthermore, many manufacturing procedures require a lot of room for shipping and storing goods. 

The area serves to build power plants, wind turbines, and other electricity-generating structures in the energy sector. The extraction of fossil fuels like coal, oil, and natural gas on the land is frequent. Sufficient land is crucial for the success of these operations because it provides access to the resources needed for energy production. 

Coal, oil, and precious metals are among the resources extracted from the land. The availability of enough land is crucial for the success of these operations because it provides access to the resources needed for production. The quantity and quality of the land used for mining can also have a significant impact on the financial success of these operations. 

Infrastructure Land 

Land is an essential resource for building infrastructure, including communication, housing, and transportation. Infrastructure provides the vital amenities and services needed to support daily activities and enhance quality of life. 

Building roads, bridges, airports, and other facilities that facilitate the movement of people and goods on the land is known as transportation infrastructure. The availability of enough land is crucial for the success of these operations because it provides access to the transportation infrastructure necessary for the efficient movement of people and goods. 

Satellites, communication towers, and other buildings facilitate communication and information sharing on the land.  Since access to communication infrastructure is necessary for sharing knowledge and ideas, the success of these operations depends on the availability of sufficient land. 

The land is used to construct both residential and commercial properties as part of the housing infrastructure. Since access to the housing infrastructure required for people to live and work depends on the availability of sufficient land, it is essential for the viability of these operations.

Conclusion 

Due to some factors, including its role in supplying people with food, shelter, and natural resources, its support for economic and cultural activities, its significance for biodiversity and the health of ecosystems, and its limited availability, the land is regarded as a valuable resource. For the sustainable development and the preservation of the world’s natural resources, it is essential to recognize the value of the land. We can work to protect this vital resource for future generations by being aware of the worth of land. 

Describe The Work Of A Farmer With 1 Hectare Of Land

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Small farmers typically have few resources and rely on their land as a source of income. 

A “small farmer” is a farmer who cultivates less than 2 hectares of land. They regularly battle several problems, such as a lack of market access, credit, and technology. 

One hectare of land is 10,000 square meters or 2.471 acres. In contrast to substantial farms or industrial plantations, it is a relatively small parcel of land. Depending on the location and the type of crops grown, a 1-hectare farm can generate a respectable income for a small farmer. 

What should a farmer who cultivates a hectare of land do? 

A farmer who cultivates a hectare of land might do the following:

  • A farmer with 1 hectare of land can grow wheat, rice, or other crops, depending on the type of land, the climate, and the irrigation system. Farmers will apply fertilizers, pesticides, and seeds. Farmers cannot use tractors and other tools due to their limited land area. 
  • One hectare does not make a farmer particularly wealthy or financially secure. Without assistance from other farm workers, he handles all of the farm work himself. 
  • A hectare of land allows a farmer to hire family members as workers. Farmers frequently require more than one hectare of land, which forces them to borrow money from other farmers or moneylenders at high interest, creating a debt cycle. 
  • These small farmers might struggle with gaining access to formal credit. These small farmers work on larger farmers’ lands in addition to their 1-hectare plots because of their debt cycle, which forces them to. 
  • The farmer must handle the rearing, feeding, and medical care of animals like cows, goats, chickens, or other livestock based on their knowledge and the market’s needs.

Supreme Court Judgement on Commercial Use of Residential Property

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If you obtain permission from the local authority, you may use residential property as commercial real estate. Find out the process of going about this and other details. 

Saleha, an employee of a dentist, intends to convert her Vasai apartment into a clinic. Like Saleha, several other people are interested in actively leasing their residential property to businesses. It’s the norm in almost all cities due to the exorbitant rental prices. It reduces the cost of leasing or buying commercial real estate in addition to flight time and related expenses. 

Even though housing societies frequently oppose it, some areas are suitable for full commercial purposes in residential apartments. However, this area varies from state to state or even within a city. 

Residential and commercial properties have different characteristics. 

Let’s examine the distinction between residential and commercial real estate: 

  • Residential Property or Zone: A residential zone is a location with residential properties like apartments, plots, standalone homes, and floor apartments. Hotels or motels may exist in such areas, but no retail stores. 
  • Commercial Property or Zone: A commercial zone is a region that includes shopping centers, businesses, office buildings, lodging facilities, nightclubs, and restaurants, among other things. The Commercial Zone Act, which specifies which commercial activities are allowed in which zones, is in charge of this zone. Near places of worship like churches, mosques, and temples, for instance, certain commercial activities are forbidden. 

Is it possible to use a residential property for business purposes?

You can use a residential property for business with the necessary authorization. Every state has a different law regarding this; some states may only permit 30% of residential property to be used as commercial property, while others may allow 50%. Let us see what the law says. 

Let’s establish who is eligible to use residential property for commercial purposes. “Services by resident advocates, CAs, Lawyers, and Doctors are some of the approved commercial activities in any residential area,” a legal expert from MB states while dwelling on the same. Tutorials, dance, and yoga classes are also permitted to use the space. 

Is there a specific clause for this, then? “There is no specific provision for conversion of the use of an apartment from residential to commercial,” says Asha Basy, a partner at S Jalan & Company. You may use the apartment for business purposes, but such use shall be professional and shall not produce or manufacture any goods. Additionally, it should not bother other members of the community. 

However, the housing society must first grant the necessary approvals. Depending on the type of business, Basu says it might also be essential to obtain permission from the local municipal authorities to turn the flat into a commercial establishment. The landlord’s no-objection statement is necessary for tenants in addition to the usual approvals. 

What does the law say about converting residential property to commercial property?

Zoning law is a regulation that directs the transformation of residential property into commercial property. A piece of legislation that designates specific land use zones, either forbidding or allowing it. The law aims to safeguard against the detrimental effects of business operations. They try to keep the two distinct (commercial and residential). Residential, commercial, industrial, commercial, industrial, rural, combination zoning, agricultural zones, historic zones, and aesthetic zoning are just a few of the different zoning types. 

How does a residential property become a commercial property? 

A residential property’s transformation into a commercial property can take a long time. It is necessary to take all steps before starting commercial activities on residential property, regardless of how long it takes. It may lead to a penalty if you do not. This blog will walk you through turning a residential property into a commercial one. 

  • As a first step, go to the municipal authority in your city. You should visit the Delhi Municipal Corporation if you reside in Delhi. 
  • Step two is to submit a written application to the municipal officer to convert. It would be beneficial if you explained why you want to convert. 
  • Step three is to include the necessary paperwork for registering your business. Include additional pertinent information, such as the size of the company, its address, and the type of property. 
  • Step 4: The authorities will look into the company; if they discover no damage to the neighborhood or environment, they will only grant the company a license. 

GST on Sale of Residential Property by Individual

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On July 1st, 2017, the GST was implemented and became law. Numerous Indian businesses, particularly those involved in real estate, have been significantly impacted by this tax plan. This blog discusses the applicable GST for purchasing homes, apartments, and other real estate, all of which have been adversely affected by this tax plan. This blog post addresses the applicable GST for residential property sales. 

What is the GST on Residential Property in India? 

Before the GST took effect, property buyers had to deal with the hassle and stress of several taxes, including the central excise tax, the VAT, and others. There is no doubt that the taxation of properties at that time was complex and opaque. The GST has changed the way things are. 

When purchasing residential property, the GST was initially 8% for affordable housing and 12% for a home that was not. The taxation system allowed property buyers to benefit from the ITC (Input Tax Credit ) on the initial applicable GST rates. 

However, the 33rd GST Council meeting’s decision to implement new and revised GST rates took effect on April 1, 2019. As long as it is an affordable housing unit, the new GST rate is 1%. In contrast, the GST rate for expensive or luxury properties is 5% without ITC. 

GST on Residential Property 

If a property exists in one of India’s megacities, everyone must pay GST on it. Buying residential real estate in finished complexes, including condos or apartments in finished complexes, is exempt from the GST if it comes with a visible occupancy certificate. 

GST on Residential Property 

Residential Property Type GST until March 31, 2019 GST As Of April 1st 
Luxury or Unaffordable Housing, Unless Under Construction 12%+ ITC 5% Excluding ITC 
Building Affordable Housing8% +ITC 1% Excluding ITC 
For finished residential projects (properties available for immediate occupancy),GST is not ApplicableGST not Applicable 

GST on Residential Property: Prerequisites & Conditions 

A residential property purchase with a 1% GST exemption is subject to some requirements or prerequisites. You must meet several criteria to purchase a residential property with a 1% GST exemption. The housing development must satisfy the following needs to be considered affordable housing: 

  • Residential real estate in non-metropolitan areas falls under the affordable housing category if it is 90 square meters in size and costs up to 45 lacs. 
  • Affordable housing in metro cities means The 60 sq.m. under-construction flat/house/apartment has a price range of up to 45 lacs. 

For flat purchases, you need 1% GST. Meet these requirements

One must purchase at least 80% of the raw materials from any registered dealer to be eligible for a flat GST rate of 1%. If not, the owner of the housing or apartment project must by RCM to pay 18% GST. 

Affordable housing currently under construction does not qualify for an ITC. It would give access to a 1%  GST rate. As a result, the buyer cannot deduct the GST they pay when buying property from their income. 

The Impact of GST on Real Estate, Conclusion

Following the implementation of GST, the real estate sector in India underwent a significant reform. Previously, the housing developer had to pay fees for permits, service taxes, legal costs, excise duty, VAT, customs duty, etc., which had an impact on their taxation procedures and increased the amount of money that buyers of real estate had to pay.

However, the GST law has simplified and organized things. By increasing the real estate tax rate to 12%, the most recent GST tax regime significantly reduced the burden on property buyers. The GST rates on residential property have fallen because of the GST Council meeting in 2019. Since then, it has become easier for Indians to buy real estate.  

Chennai Furnished Luxury Apartments for Rent

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People look for homes in cities like Chennai for a variety of reasons. Some people only need a place to sleep at night or a roof over their heads. Long-time residents consider it their home. 

The former group chooses rentals because they better suit their needs. In Chennai there are some luxury apartments available for rent. 

For those looking for a high-end living environment, renting a luxury apartment in Chennai has several advantages. The following are some significant benefits of leasing a posh apartment in Chennai:

  1. High-end living spaces: Luxury apartments are created to offer upscale living areas with first-rate amenities and fine finishes. These apartments frequently have open floor plans, contemporary architecture, chic interiors, and top-of-the-line fixtures and appliances. Renting a luxury apartment gives you access to a welcoming and attractive living space.
  1. Improved Amenities and Facilities: In Chennai, luxury apartments frequently feature a number of upscale amenities and facilities. Swimming pools, fitness centers, beautifully landscaped gardens, concierge services, round-the-clock security, designated parking spaces, and recreation areas are just a few examples. The opportunities for rest, exercise, and socializing within the apartment complex itself are provided by these amenities, which contribute to an opulent and practical lifestyle.
  1. Prime Locations: In Chennai, luxury apartments are frequently found in desirable locations. These areas might have good access to important business districts, shopping malls, medical facilities, educational institutions, and entertainment hubs. The benefit of having quick access to necessary amenities and a bustling city lifestyle when renting a luxury apartment in such areas.
  1. High-quality Services: Chennai’s high-end apartments may also provide extra services like housekeeping, maintenance, and on-site property management. By handling routine tasks and ensuring the proper maintenance and upkeep of the property, these services help you save time and effort. Having professional services at your disposal enhances the overall living experience.
  1. Security and privacy: To protect residents’ privacy and safety, luxury apartments frequently place a high priority on security measures. They might make use of cutting-edge security measures, CCTV monitoring, and on-site security guards. These precautions offer residents and their possessions peace of mind and a secure living space.
  1. Opportunities for Community and Networking: Living in a luxury apartment may present chances for networking and socializing with people who share your interests. The apartment buildings may plan community activities, social gatherings, or amenities that are only available to residents in order to promote a sense of neighborhood and interaction.
  1. Flexibility: You have time flexibility when you rent a high-end apartment. Whether it is a short-term rental or a longer-term agreement, you can select lease durations that meet your needs. With less commitment than a long-term real estate investment, you can change your living situation to suit changing circumstances thanks to this flexibility.

A variety of amenities are frequently provided by furnished luxury apartments in Chennai to improve residents’ comfort and convenience. Here are some typical amenities you can anticipate to find, though specific amenities may vary from one apartment complex to the next:

  1. Interiors that Are Fully Furnished: The interiors of luxury apartments are tastefully decorated and luxuriously furnished. This includes elegant decor, high-end flooring, elegant lighting fixtures, and furniture of the highest caliber.
  1. Appliances: Standard amenities found in furnished luxury apartments include a refrigerator, microwave oven, dishwasher, washing machine, and dryer. With the help of these appliances, you can manage your daily tasks more easily and live more comfortably.
  1. Heating and Air Conditioning: Because of Chennai’s occasionally hot and muggy weather, luxury apartments frequently have effective air conditioning systems to keep the interiors cool. For the colder months, some apartments may also have heating systems.
  1. Security systems: In opulent apartments, security is a top concern. In order to protect residents, these apartments frequently have high-tech security features like intercom systems, CCTV surveillance, access control systems, and 24-hour security personnel.
  1. High-Speed Internet and Wi-Fi: Most furnished luxury apartments provide high-speed internet connectivity and Wi-Fi access. This allows you to stay connected, work remotely, and enjoy online entertainment seamlessly.
  1. Gym and Fitness Facilities: Many luxury apartments have well-equipped fitness centers or gyms on the premises. These facilities offer a range of exercise equipment and space for residents to maintain their physical fitness conveniently.
  1. Swimming pool: In order to beat the heat and unwind, upscale apartment buildings frequently have swimming pools. These swimming pools, which can be indoor or outdoor, offer locals a cool place to unwind.
  1. Clubhouses and Common Areas: Residents of luxury apartments frequently have access to clubhouses or other communal spaces where they can mingle, host events, or unwind. Lounges, conference rooms, banquet halls, and landscaped gardens are a few examples of these spaces. 
  1. Parking: Luxurious apartment buildings frequently offer parking spaces. The convenience and security of residents’ vehicles are guaranteed by designated parking spaces or covered parking areas.
  1. Power Backup: Because Chennai occasionally experiences power outages, upscale apartments frequently have power backup systems installed. This ensures continuous electricity supply within the apartment complex during such instances.
  1. Maintenance and housekeeping: To take care of repairs and maintenance, some luxurious furnished apartments offer maintenance services. Additionally, housekeeping services might be offered to maintain the cleanliness and upkeep of the apartment.

The ability to live a refind and comfortable lifestyle with access to first-rate amenities, first-rate services, and a prime location within the city is made possible by renting a luxury apartment in Chennai. 

Service Apartments in Indira Nagar Bangalore

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You can choose from numerous service apartments in Indiranagar, Bangalore, to find one that meets your needs. The most desirable areas are close to public services like stores, markets, and dining establishments. For maximum comfort, they have modern and contemporary furniture. Our service apartments in Bangalore offer excellent service, hotel-like amenities at affordable prices, and a homey environment where you can anticipate a relaxing and enjoyable stay. Premium Serviced apartments are available in Indiranagar, Bangalore. 

Local Information 

Indiranagar, a prestigious residential area in East Bangalore, is bordered by Ulsoor, Domlur, Byappanahalli, and Vimanpura. Built as a residential district and divided into two stages as a BDA Layout in the 1980s. It is primarily a multiethnic and global region. The software explosion of the 1990s set off a wave of commercialization that has continued unabated to this day. One of the busiest retail and restaurant streets nationwide is now 100 feet road and 12th Main. It has since developed into one of India’s top centers for food and drink. In addition to numerous cafes, coffee shops, microbreweries, and gastropubs, Indiranagar has over 90 restaurants serving a variety of cuisines. 

Transport 

Due to the service apartment’s location on the congested 1st Main Road, cabs and auto rickshaws are easily accessible. Trinity Bus Stop, which is just 2.6 kilometers away and served by BMTC, is the closest. From our serviced apartments in Bangalore’s Indiranagar, you can travel comfortably to any part of the city. Bangalore Railway Station is 9.2 kilometers away, and Indiranagar Metro Station is 1.8 kilometers away from each other. The distance to Bangalore International Airport’s domestic and International flights is 40 kilometers. Bellary Road or NH 44 are two routes from the airport to get serviced apartments in Indiranagar, Bangalore. 

Properties 

Elegant serviced residences can be found in Indianagar The living room, which is close to the kitchenette and the luxurious bedding, has a nice amount of lighting. split air conditioning, an LCD TV, and a chic wardrobe. light air conditioning. High-speed internet with Wi-Fi is available. 

Land Records Uttar Pradesh

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The Uttar Pradesh State Revenue Board created the Uttar Pradesh (UP) Bhulekh, an online Platform for searching land records, Khasra documents, and Khatauni numbers. In addition to offering digital land records, the State also uses the website to try and thwart forgery. Continue reading to learn how to locate Khasra’s number in Uttar Pradesh and the State’s most recent initiative to combat fraud. 

What is the UP portal for Bhulekh? 

The UP government has converted the land records to digital format, which makes it much easier for users to locate important information like Khasra and Khatauni data. The UP Bhulekh is to increase transparency while providing citizens with legally binding land titles and reducing the severity of land disputes throughout the state. 

The portal now presents Khatauni information in 19 rows rather than 13 columns to increase the process’ authenticity. The Gata number, unique plot ID, and plot size in the soiree meter will be listed among the additional six filters available on the website when users attempt to access a copy of Khatauni. 

A user could access the information on the website even if multiple farmers owned the same plot under the same Gata number. It gave criminals access to private information they could use to fake documents. According to the most recent update, the portal will only display the information for one Khatauni under one Gata number. As a result, information access for farmers should improve, and instances of land fraud ought to go down. 

What information and services are offered in Bhulekh UP? 

The UP Bhulekh portal offers the services and data listed below: 

  • Information on landowners 
  • Information about the land, including its type, the number of owners, and its ownership structure. 
  • A land parcel’s exact boundaries
  • Khasra and Khata details of a land 
  • Land encumbrance 
  • Information on prior owners 
  • Specifics of the enemy 
  • Specifics about abandoned properties 
  • Information about public properties 

Bhulekh UP document uses 

The UP Bhulekh document can be used to confirm the information provide by the seller. The portal gives accurate information about the plot size, boundary restrictions, type of land, and encumbrances to help stop property fraud. Users can look up information on previous owners and mutation status on the portal, among other things. 

It is important for users to understand that the information on the UP Bhulekh portal is only for informational use and cannot be used for official or legal purposes. Visit the Tehsil if you want an authentic, official copy. Visit the Tehsil office if you want an authentic, official copy. You can obtain this official document by paying a small fee. 

Bhulekh UP document’s constituent parts 

The UP Bhulekh document has four main sections: 

The Khasra number 

Every land parcel in the State has a unique number assigned to it for use in th Uttar Pradesh land registry. Most rural areas use this phrase. 

Khatauni 

It is a specific kind of account number that contains details and records about the distribution of land ownership among sellers in a village. 

Khewat 

This is another kind of account number given ti a family to track the ownership of all family member’s lands. 

Jamabandi Naqal 

The owners, cultivators, location, size, patta number, type of crop grown, and Khasra number are all listed in this document. 

How do I access the UP Bhulekh portal’s land records (Khasra) ?

Follow these steps to view land records on UP Bhulekh: 

  • Visit https://upbhulekh.gov.in/ to access UP Bhulekh’s official website. 
  • Choose the District, Tehsil, and Village to move forward. 
  • To view a plot, enter its Khasra number and select “see evolution.”
  • You will see a plot account statement similar to the one in the picture below. The account statement provides information about the owner’s history, the size of the land, and any mortgages taken against the property. It is to let the buyer know if there are any outstanding debts on the property and whether it would be a good investment. 

Advance Search Land Bihar

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2020’s Bhumi Jankari in Bihar 

Public use Bihar Bhumi Jankari services. The website http://www.bhumijankari.gov.in/ offers the following services. 

  1. Watch MVR 
  2. Look at the Registered Document 
  3. Land document Search Advanced 
  4. Visit Website 
  5. Bihar’s IGRS

To determine the market value of a property, such as a house, land, or apartment, use the MVR tool. There will be clear information available for each district and village. 

How Can I Find Bihar Government MVR Information Online? 

  • Visit the Bihar government’s official website at http://www.bhumijankari.gov.in/. Select Registration office, circle name, Thana code, and Land type, and then click on the advance calculation after going through MVR Details. 
  • By Party name, village, survey number, and Registered Title Deed serial number, you can search for Registered Documents. 

How can I view a Bihar State Registered Document? 

For a quick search, choose Registration Office and from/to Registration date by clicking the link Registered view document. There will be two options. 

  • Before Computers (1996-2006)
  • After Computers (Since 2006) 

Choose the option, then enter your information and look for Registered documents. If a land or agreement contains documents, sale deed registration after computerization. Choose the registration office, the registration date or period, the property location, and the documents’s serial number as they appear in the register kept by the SRO. Enter the following information: area in measurement, Khata number, plot number of a house or apartment, Party name, husband’s or father’s name, Locality, Circle, Mauja, etc. The demands of different fields have led to the information above. Several copies of the Registered document are available for download via a web copy link. A duplicate of a government-issued document is warranted to be an accurate and true copy of the original. 

How can I access Bhumi Jankari (Bihar web copy documents) online?

  • Open the web copy link, type in the serial number (Type Deed no.), choose the registration office and year, then search for web copy. Once the soft has been available, take a printout. 
  • The Bihar government established the Registration Department. Various types of Surveys keep track of using the IGRS Bihar link. 

How to Calculate Land Area

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The calculation of plot area is critical for both government officials and landowners. The government requires this data as part of a land survey, whereas the owners use this information to determine the exact land area they have and then use it in the best way possible. The process is complicated and involves a lot of math and formulas. Please bear with me as I explain how to calculate the plot area in this section. 

How do you calculate the land area? 

It would have been easier to put the formula and values in place and calculate the plot area if plots had been divided into the usual geometrical shapes. But this is not the case. The fields typically appear in the following forms:  

  • Stories in squares or rectangles
  • Polygon plots with irregular edges 
  • Triangle plot 

It will be easy to determine if you have a square or rectangular land. Here’s how you might go about it: 

(Length x Length) = Square plot Area 

Therefore, the calculation will be as follows: if the plot’s length is 30 feet, then the area will 

A square land area is (30 x 30). 

A square of land has a 900-foot area. 

Square land area equals length times width. 

If your plot has a length of 30 feet and a width of 20 feet, the area will be: 

Square land area equals length times width

The size of the rectangle: 30×20 

A rectangular plot measures 600 feet. 

The area of the triangle is equal to (s(s-a) (s-b) (s-c)). 

Here, s represents half of the triangle’s perimeter, and a, b, and c represent its sides. 

Consider a plot with three sides that span, respectively, 14 meters, 24 meters, and 18 meters long. Here is how to determine a triangular land area. 

Triangle plot area equals (s(s-a) (s-b) (s-c)) 

S = (a+b+c)/2 

S= (14+24+18)/2 

s= 28 

The triangular land area is equal to (28(28-14)(28-24)(28-18)) 

= √(28(14)(4)(10)) 

= √ 15680 

= 125.2m, i.e., 1347.6 feet 

Land Sale Capital Gains Tax

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Any profit or gain from selling a capital asset is known as capital gain. Houses, land, stocks, mutual funds, jewelry, and trademarks are all capital assets. Because the gain/profit is considered income, you must pay tax on that amount in the same year you transferred the capital asset. 

As a taxpayer, you must pay taxes on your earnings during the fiscal year. Similarly, you also have to pay taxes on your capital gains. 

Because land is a capital asset, capital gains from its sale are taxed. Here’s a detailed explanation of capital gains tax and how to calculate it. 

Capital Gains Tax on Land Sales 

You must pay capital gains tax on a home or land sale. Capital gains tax falls into two types: short-term capital gains (STCG) for properties held for less than 36 months and long-term capital gains (LTCG) for properties kept for more than 36 months.  

In the case of STCG, the profits generated from the sale of land belong in the owner’s taxable income, and the individual must pay taxes based on the income tax slab they fall into that particular fiscal year. The current LTCG tax rate is 20%. 

How to Count Capital Gain on Land Sale? 

Here’s how to figure out the capital gains from selling a house: 

Capital Gain Tax (STCG) 

Deduct the acquisition cost, improvement cost(if any), and sale-related expenses from the sale price if you sell the land within 36 months of purchasing it. It will be your STCG. 

Let’s take a look at an example- 

Mr. Ansari purchased land in 2015. He paid Rs. ten lakh for it. Mr. Ansari bought land in 2015. He paid Rs. 10 lakh for it. In 2016, he sold the land for Rs. 15 lakh. In this instance, Mr. Ansari’s total income will rise by Rs.5 lakh. Tax will be lived based on his tax bracket. Calculating the STCG tax is easier. The profit from the sale of land is part of the total income.  

LTCG – Capital Gains Tax 

In LTCG, you can deduct the indexed acquisition and improvement costs from the sale price. It helps to reduce your capital gains as the cost of acquisition or improvement rises.  

When calculating LTCG, the cost inflation index (CII) is critical. Every year, the government releases this index. CII is an integral factor in determining the indexed cost of acquisition and improvement. 

Cost Inflation Index = Index for the fiscal year of transfer/ Index for the fiscal year of acquisition. 

Are Deductions for Reducing Capital Gains Tax Available? 

Yes, the IT Act provides a few options to help landowners reduce their capital gains tax liability. Some of the most popular ones are as follows- 

Section 54F of Income Tax 

Under Section 54F, there is a 100% deduction on the capital gains tax if the entire amount is gained from selling land for purchasing or constructing a house. However, this provision is subject to certain conditions and limitations. But note that there are some conditions and limitations to this provision. 

Income Tax Section 54EC 

The LTCG from the land sale is deductible under Section 54EC when invested in capital gains bonds such as REC (Rural Electrification Corporation) or NHAI (National Highway Authority of India). Furthermore, if you don’t use these sections of the IT Act, you can deposit your capital gains in a bank. Such capital gains deposits are tax deductible under the Capital Gains Account Scheme. 

Tax Advice for House Sellers 

  • Generally, the exemption for a new residential property is proportional to its total sale price. Investing the remaining amount within six months is allowed under Section 54EC. 
  • The exemption will also be available if the builder of the new residential property does not hand over the house to the taxpayer within three years of purchase. 
  • You can calculate the capital gains by using the stamp duty and valuation by the registration authority. 
  • If the seller cannot reinvest the gains in bonds or houses before filing their tax return for the year in which the sale occurred, they can deposit the gains in the Capital Gains Account Scheme to be eligible for the deduction. 

Registration Fees for Land

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If you plan to buy land in India, you must consider the cost of registering your property besides the price of the property itself. Depending on the state and type of purchase, property registration fees and stamp duty charges can amount to 7% to 10% of the total property cost. 

Registration fees in most Indian cities and towns are 1% of the property value. Aside from these fees, you will pay a cess and a small surcharge. 

Different Cities’ Land Registration Fees/Charges 

Name of the City Registration Fees
Bangalore 5%
Delhi 4% if the owner is a woman
6% if the owner is a man. 
Mumbai 1% or Rs. 30,000 
Chennai1%
Kolkata1% if the value of the property exceeds Rs. 40 lakhs. 

What is Land Registration? 

When you register a property in your name, the state government will charge you a registration fee, which is a percentage of the total or filed value of the property. The Registration Act of 1908 imposes a fee for registering your property documents in your name. This fee applies to both new and existing property registrations. 

Property registration fees vary by state. It also depends on who will register the property. Women and senior citizens receive a registration fee reduction from the state government. 

Factors Influencing Property Registration and Land Charges 

  • Property, new or used:  The property registration fees vary by the type of property you want to register. A high registration fee is usually required to enter a new property. It makes sense because the registration fee is a percentage of the total cost of the property. A new piece of land typically has a higher total property cost than an old piece of land. It usually has a higher total property cost than a piece of older land. When you register a not-so-new or old property, the registration fees will be low because the home’s value has decreased since it occurred. 
  • Commercial and Residential Property: The fees for registering a commercial property are higher than those for registering a residential property. It is primarily because commercial real estate, unlike residential properties, requires additional amenities such as swimming pools, escalators, and exclusive parking. 
  • Geographical Factors: The property’s location has an essential impact on the registration fees. If your property is in a city or a developed town, you must pay a high registration fee. You should also consider the state where you’re buying the property because state governments charge property registration fees. 
  • Transfer Type: If you are buying a property from someone other than a family member, you must pay the standard registration fee. However, if you transfer the property’s title to a family member as a “Gift Deed,” the registration fees are low. 
  • Amenities: As previously stated, if you have amenities such as a clubhouse, community hall, library, outdoor play area, swimming pool, cargo lift, or gym, you must pay a high registration fee. The amenities-valuation method requires you to pay more for each additional amenity in your building. 
  • Airport, bus, or train station proximity: Did you know that if you live near an airport, bus station, or railway station, you will face a high registration fee? Yes, that’s correct!
  • Property ownership gender: The government waives registration fees for women’s properties. So, if you have a female member, you can register the property in her name to save money on registration fees. 

Documents Required 

Property registration requires the submission of the following documents: 

  • Certificate of encumbrance valid until today. 
  • The electricity bill 
  • Registered Development Agreement (if it relates to Joint Development property) 
  • Power of attorney, if any 
  • A copy of all previously recorded contracts (if real estate is under offer)
  • ‘RTC’ stands for Records of Rights and Tenancy Corps. 
  • The landowner’s title records and a sale deed in the seller’s name 
  • Tax returns from the previous three months, as well as the most recent bank statements, if money remains due from a loan. 

How are land registration fees calculated? 

Property registration fees depend on the current market value of your home. If you have both the market value and the agreed-upon value of the property, the greater one will be the charge. 

  • Aside from the cost or value of the property, the type of property, location of the property, gender and age of the owner, usage of the property, and a number of floors all influence the property registration fee. 
  • Stamp duty officials usually use the Stamp Duty Ready Reckoner to determine the property’s worth. The Stamp Duty Reckoner is published annually on January 1st by the relevant state government.

Calculator for Property/ Flat Registration Fees 

Use an online property registration fee calculator to determine how much you must pay out of pocket before registering your property. Many online calculators can calculate the registration fee in a matter of seconds. All you have to do is: 

  • Enter basic information about the property, such as its location and cost, and then click the “Calculate” button. The charges will appear on the monitor in no time. You do not have to go to the local register office to find out. Thanks to technology!

Odisha Land Revenue Payment

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Land revenue is known as Khajana in Odia. Landowners in Odisha are required to pay Khajana, or land revenue, yearly. You can simply pay your land revenue online using the e-Pauti App. 

What is the purpose of the e-Pauti Odisha portal?

The Odisha government launched a web portal in August 2020 where people in Odisha can check their Bhu Naksha, Bhulekh, and e Pauti Odisha. This web portal enables Odisha residents to pay their land revenue online. The National Informatics Center in Bhubaneswar, Odisha, created the online web portal. 

You can pay your land tax online using the portal on the Odisha Revenue and Disaster Management Department’s official website. Odisha landowners can make vital payments online using the e  Pauti Odisha Portal. The people of Odisha can pay their land revenue at any time and from any location through the Pauti Odisha portal or the Pauti mobile App. 

The e-Pauti Odisha portal provides multiple services to help with land-related payments and tracking in Odisha. Users can access transaction IDs and download and verify rent receipts on the e-Pauti Odisha portal while praying for their land revenue online. 

However, before paying land revenue on the e-Pauti Odisha, you must obtain details such as Khaitan or the Record of Rights (ROR). Khaitan is a set of documents that establishes land ownership, property rights, and usage.   

Conditions for making land-related payments via the e-Pauti Odisha 

The following are some prerequisites for making online payments of land-related taxes in Odisha via the e-Pauti Odisha portal: 

  • Odisha Record of Rights (ROR) or Khaitan 
  • The Khata number 
  • Mobile phone number on file
  • Debit card/ Net-banking/UPI

How do I make an online payment on the e-Pauti Odisha?

Landowners in Odisha can pay their land revenue online through the e-Pauti Odisha portal. Below are the steps to follow on the website. 

Step 1: Go to the official e-Pauti Odisha portal (https://www.odishalandrevenue.nic.in/) and click the ‘Pay Land Revenue’ button. 

Step 2: The “Online Land Revenue Payment” page appears. Fill out all of the fields completely and enter the captcha. Press the “Proceed” button.

On the land revenue payment page, you must enter the following information: financial year, district, tehsil, village, total land area, tenant’s name, Khata number, rent, N Cess, and water tax. 

Step 3: Enter the depositor’s information on the new page. Step 3: Enter the depositor’s data on the new page. 

Then click ‘Make Payment.

Step 4: You will head to the payment gateway, where you can select your preferred payment method and complete the transaction. 

Debit cards, net banking, and the UPI are among the payment options available on the e-Pauti Odisha.

Step 5: Following payment, the treasury page will be displayed. To be redirected to the confirmation page, hit the “Proceed” button. Press the ‘confirm’ button. 

Step 6: Keep the Treasury Challan References ID handy for future use. 

Step 7: Upon successful payment, a receipt of acknowledgment will arrive. You may keep the receipt for future reference. 

How to Check the e-Pauti Odisha Payment Status Online? 

The Odisha e-Pauti portal allows users to check the payment status online. The e-Pauti portal retrieves the online payment status using the Transaction ID. Follow the steps below to check your payment status on the e-Pauti online. 

Step 1: Go to the Odisha Land Revenue official website at https://odishalandrevenue.nic.in/.

Step 2: Go to the homepage and click the Know Your Transaction ID and Payment Status link.  

Step 3: A new window will open when you click the button. 

Step 4: Fill in the following information in this window: Financial Year, District, Tahasil, Village, and Khata No. 

Step 5: Choose Get. There will be a display of the status of the online payment. 

The legends listed below are used on the e-Pauti Odisha to determine various payment statuses. 

S- Transaction Completion, 

F- Failure of a transaction,

P- Pending Transactions,

I- Payment started but wasn’t made,

X- Transaction was either not attempted or canceled. 

How to Get a Rent Receipt on the ePauti Odisha?

If you did not save the receipt after making the payment on the e-Pauti Odisha, or if you want to download it again later, follow the steps below: 

Step 1: Go to the e-Pauti Odisha website and select the ‘Download Rent Receipt’ option. 

Step 2: Enter your Treasury Challan Reference ID and press the ‘view’ button. 

The rent receipt will now appear on the screen, which is possible to bookmark for future reference. 

What is e-Pauti Mobile Application?

The Online Land Revenue Payment Revenue and Disaster Management Department of Odisha has also launched a mobile application, e-Pauti, which is accessible via smartphones, to improve the accessibility of the e-Pauti. Landowners in Odisha can use the mobile App to access the services of the e-Pauti Odisha. The app will allow taxpayers to pay their Khajana/ land revenue anywhere. 

The following are the features of the e-Pauti application: 

  • The Treasury portal’s iFMS gateway enables online payment of land revenue. 
  • The e-Pauti App allows users to save and print their rent receipts. 
  • Obtain access to your Khaitan/ ROR. 
  • Understand your Transaction ID. 
  • Check the Rent Receipt
  • 24-hour availability

How to Pay Land Revenue in Odisha Using the e-Pauti Mobile Application?

To make land revenue payments using the e-Pauti Odisha mobile application, follow the steps below. 

Step 1- Get the e-Pauti mobile application for your smartphone and install it. 

Step 2- From the e-Pauti mobile application’s home screen, select the Pay Land Revenue option. 

Step 3: Based on your location, provide the necessary information such as the the district, village, and tehsil. You must also provide the fiscal year and other pertinent information regarding your land revenue payment. 

Step 4- Enter the depositor’s information, including name, phone number, email address, and postal address.

Step 5- Click the Make Payment button. 

Step 6: Select your preferred payment method and pay your Odisha land revenue. 

Step 7- On the next page, obtain payment confirmation and save the Treasury Challan Reference ID and acknowledgment receipt for future reference. 

How to Download Rent Receipt on the e-Pauti Odisha Mobile App?

Follow the steps below to download a rent receipt using the e-Pauti Odisha mobile application. 

Step 1: Launch the e-Pauti mobile application on your smartphone. 

Step 2: On the e-Pauti mobile app’s homepage, click the Download Rent Receipt button. 

Step 3: Type in your Treasury Challan Reference Number. 

Step 4: Select the View option. 

Step 5: At this point, you can download the Rent Receipt. 

Conclusion

The Odisha government’s e-Pauti portal is a fantastic initiative. This portal has made all land-related payments in the state simple and transparent. The portal is simple to use and available 24 hours a day, seven days a week. 

Uttarakhand Land Records and Registration Charges

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Concerning Dev-Bhoomi 

Different states in India have distinct methods for obtaining land record information. People can now view their property details more easily thanks to the computerization of the land record process. 

Uttarakhand, like any other state in India, has a portal for checking property records called Dev-Bhoomi. You can view your land record details by visiting the portal, entering a few details, and gaining access to information about the relevant property. 

How to Get Your Dev-Bhoomi Land Record Details 

Step 1: Go to Dev-Bhoomi’s official website. 

Step 2: From the dropdown menu on the left side of the page, select the district in which the property lies. 

Step 3:  From the dropdown menu, select the relevant Tehsil and press the “Okay” button. 

Step 4: You will head to the Bhulekh Uttrakhand website. 

Step 5: Determine the district, Tehsil, and village of the land. 

Step 6: You will redirected to a page where you can view the details of your land record by entering the account number, mutation date, vendor, buyer, gata number, or account holder’s name.

Step 7: To     check land rights by account number, enter the appropriate number and click “Search.”

Step 8: Enter the mutation date to double-check.

Step 9: You can also enter the name of the concerned vendor to view property details.

Step 10: Besides these options, you can view your land record by entering the buyer’s name. 

Step 11: You can also check property details by entering the account holder’s name into the portal. 

Viewing Uttrakhand land record details is a relatively simple and painless process. To avoid confusion or errors, make sure you enter the correct information. 

Section 17 of the Indian Registration Act of 1908 governs the property registration process in Uttrakhand. Any transactions involving the sale of immovable property should record to ensure the explicit transfer of title to the property owner. Preparing documents, paying the applicable stamp duty and registration fee, and legally recording the property deed at the sub-registrar’s office are all part of the property registration process. The Uttrakhand Government’s Department of Stamps and Registration oversees the registration and transfer of real estate. 

The Indian Registration Act, Section 17

According to Section 17 of the Indian Registration Act, 1908, all transactions involving the sale of immovable property, the gift of immovable property, and the lease for more than twelve months of immovable property worth Rs. 100 or more must file with the concerned sub-Registrar office. 

Documents Required 

The documents required for registering deeds in Uttrakhand are explained in detail here. 

  • The Original Document
  • A printed version of the e-Challan Duty/Fee
  • Stamp duty, registration fees, and handling costs for documents
  • A printout of the PDE details. 
  • Land revenue record as Khasra, Khatoni as applicable. 
  • Photographs of parties in passport size
  • Image of the transferred property
  • When the value exceeds five lakhs, a Pan Card is required. 
  • TDS challans are a must under the Income Tax Act to sell only agricultural lands worth more than 50 lacks. 
  • If the buyer and his family have an immovable property in Uttrakhand before September 12, 2003, they must show Khatauni and another authenticator. 
  • Proof of identity- Voter ID, Kisan Bahi, Bank Passbook, Employer ID, ID from an educational institution, ration card of all parties, and witnesses.  
  • Property Map- Registration of Conveyance Sale, Gift Deed, and Sale Deed
  • Leasehold property map – Lease registration and mortgage deed. 

How to Know Land Valuation in West Bengal

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A property valuation certificate is a legal document that verifies the information contained in the Register of Land Values. Property valuation aids in determining a property’s fair market value at the time of sale or purchase. The value of the property estimated varies from state to state. This blog delves into obtaining a West Bengal Property valuation certificate. 

Property Valuation Certificate

The following purposes require a property valuation certificate: 

  • Property valuation certificates include property information such as land and building size, property value, and construction details. 
  • A property valuation certificate also serves as collateral for the bank’s educational loan. 
  • When filing annual returns with the Income Tax Department, a property valuation certificate is necessary for income and wealth tax purposes. 

Applicable fees

When applying for a property valuation certificate in West Bengal, the applicant is not required to pay an application fee.  

Documents Required 

When calculating the property, the documents required must arrive. 

  • The Aadhar Card 
  • Land Tax Documentation 
  • A copy of the encumbrance certificate.
  • Property ownership documentation. 
  • Voter ID. 

Property Valuation Online Application Procedure 

On the West Bengal portal, you can calculate the market value of land for a property transaction by the following steps below:

Step 1: Go to the West Bengal Government’s official website.         

Land Market Value Calculation

Step 2: Navigate to the “Market Value of Land” tab from the portal’s home page. 

Step 3: The next screen will display the market value of the land.  

Step 4: The applicant must enter the mandatory information. 

Step 5: Select your district, Thana, local body, and local body name. 

Step 6: Enter the plot number and the Khaitan code to determine who owns the property. 

Step 7: Enter the details of your property, such as its type, use, and land area, and then click the “Display Market Value” button. 

Step 8: Your land’s market value will be calculated and displayed on the screen.

Calculate the Market Value of Structured Land

Step 9: Click the “Market Value of Land with Structure” tab on the portal’s home page. 

Step 10: The market value of land with a structure page will appear on the next screen. 

Step 11: The applicant must enter the required information. 

Step 12: Select your district, Thana, local body, and local body name. 

Step 13: You will need the plot number and Khaitan code to identify the owner. 

Step 14: Enter the details of your property, such as type, use, and land area, and then click the “Proceed for structure entry” button. 

Step 15: Fill out the structure entry page with the necessary information, then click the “Click on Market Value of Land with Structure” button. 

Step 16: At last, the market value of your land structure will be determined and displayed on the screen. 

Determine the Market Value of an Apartment

Step 17: Select “Market Value of Apartment” from the main portal screen.

Step 18: The market value of the apartment page will appear on the next screen. 

Step 19: The applicant must enter the required information. 

Step 20: Select your district, Thana, local body, and local body name. 

Step 21: To obtain the property’s owner information, enter the plot number and Kahitan number. 

Step 22: Now, enter the details of your apartment, such as its type, use, and floor location, and click on the “Display Market Value” button.

Step 23: Appraisal of your apartment will be done and displayed on the screen. 

Service Apartments in Whitefield, Bangalore

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Whitefield, a prominent area in Bangalore, India, is known for its IT parks, commercial centers, and residential developments. It has grown significantly in recent years, meaning service apartments are available in the area. Service apartments provide fully furnished accommodations with hotel-like amenities and services but with the added convenience of a home-like amenities and services but with the added convenience of a home-like environment. 

Factors to Consider 

Consider factors such as location, proximity to desired amenities or workplaces, the reputation of the service provider, available facilities and services, pricing, and terms of stay when choosing a service apartment in Whitefield, Bangalore. 

  • Location: Whitefield lies in the eastern part of Bangalore. It is known as the city’s IT corridor. It lies easily near major IT parks, commercial centers, shopping malls, and entertainment venues. Whitefield service apartments are typically located near these areas, making them convenient for professionals and travelers. 
  • Amenities: Whitefield service apartments provide a comfortable and self-sufficient stay. They are fully furnished and include amenities like air conditioning, Wi-Fi, television, a kitchenette or full kitchen, laundry services, and housekeeping. Some service apartments also provide additional facilities like gymnasiums, swimming pools, parking, and 24-hour security.
  • Service apartments are known for their flexibility in terms of stay duration. They can be rented for short-term stays of a few days to several weeks or months, making them ideal for business travelers, tourists, or individuals seeking temporary housing. Some service apartments also provide long-term rental options for those who need to stay for an extended period. 
  • Service apartments in Whitefield vary in price depending on location size, amenities, and length of stay. Service apartments, in general, are a more cost-effective alternative to hotels, especially for more, because they offer more space and amenities at a lower price. 
  • Booking and Management: Whitefield service apartments can be reserved directly from the service apartment providers or through online platforms and booking websites. Professional property management companies manage some service apartments, while others are owned and operated by individual property owners. 

To find one that fits your preferences and budget, you must investigate and compare different service apartments in terms of pricing, reviews, and available services. Reading customer reviews and ratings can provide insight into the quality and dependability of the service flat service provider. 

GST on Residential Flat

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Property buyers must pay GST on residential property purchases in addition to property tax to meet their tax obligations. His GST regime in the real estate sector has changed in recent years. Potential investors and homebuyers need to consider the impact of GST when making real estate investments. 

What is the GST rate for residential construction?

In 2022, individuals who invest in under-construction projects in India will have to pay GST on their purchases. When buying a home in a finished project, the GST on property purchases does not apply. A completed project has received a certificate of completion from the appropriate authority.  

Type of Property GST Rate through March 2019GST Rate in April 2019
Affordability of housing 8% with ITC1% without ITC
Unaffordable housing 12% with ITC5% without ITC
Commercial Space> 15% of Total Carpet Area in Residential Property 12%, with ITC5% without ITC

Residential Property GST Rate

  • It makes no difference whether or not the landlord is GST registered; GST does not apply. 
  • When a business entity rents a residential property, the GST rate is 18%.
  • When the property is rented to a private person or used for personal reasons, there is no GST if the tenant applies for GST. 

How do I pay GST on a flat?

If a flat owner pays a minimum maintenance charge of Rs 7,500 to their housing society, they must pay 18% GST on a residential property.  

Residents Welfare Association (RWA) imposes a monthly charge of Rs 7,500 per apartment, which is taxable at 18% of the total amount. 

GST is not payable by housing societies with an annual turnover of less than Rs 20 lakh. Meet both conditions for GST to apply, i.e., 

  • Each member must pay a monthly maintenance fee of Rs 7,500 or more. 
  • RWA’s annual turnover must be at least Rs 20 lakhs. 

The government also stated that if the monthly charges exceed Rs 7,500, all of them will be taxable. 

Example: 

If the monthly maintenance fee is Rs 12,000, 18% GST for a flat is payable Rs 12,000 but not Rs 4,500 (Rs 12,000 to Rs 7,500). 

Owners of multiple properties in the same housing society must also pay taxes on each unit separately. 

Why is there no GST on completed flats?

A completed home purchased in a secondary transaction will not be subject to Goods and Services Tax. It is thus essential to understand that Gst is only payable on payments made to contractors who offer construction services. As a result, when purchasing a completed (ready for occupancy) or used apartment, the issue of providing construction work does not arise. As a result, when purchasing completed apartments, GST is not applicable. 

The application of GST to the property is conditional on the competent authority issuing a certificate of completion. When a property’s certificate of completion arrives before payment is due to the seller, it is considered a sale of the property ready for occupancy rather than an offer of goods or services. As a result, no GST applies to the sale of the completed apartment. 

What if the buyer fails to pay GST?

If the buyer fails to register under GST laws, the seller is entitled to a refund of pre-GST taxes and duties. Refunds are only available if the goods were bought and returned within six months of July 1, 2017. 

Is GST applicable on Resale flats?

Buyers of resale apartments are exempt from the Goods and Services Tax (GST). Unlike other under-construction apartments, the buyer won’t have to pay GST at the point of purchase because the apartment is ready to move into and doesn’t abide by the works contract. However, if the buyer purchased the property from a developer who paid GST during construction, she must pay her GST total before buying the home. According to the GST Council’s recommendations, the buyer of the building will be subject to an 18% tax. However, it is 12% for the properties under construction. 

How to avoid paying GST? 

If you buy a flat, you can avoid paying GST if you: 

  • Purchase a completed or already built flat (flat with completion certificate). 
  • Purchase of a used apartment.