How to Get Land Record Information in West Bengal

The West Bengal government launched Banglarbhumi, an online web portal for land records and reforms. Anyone can use this portal to obtain land and property-related information, such as the owner’s name, land area, plot number, property value, and current owner. 

Details about the land/ property are critical to the buyer or owner of the land/ property.

As a precaution, if a person wishes to purchase any land/property, he should inquire about the information. 

These details could be as simple as who registered the land or who is the current owner. 

The Banglarbhumi portal provides this data alongside a land map for land/ properties in West Bengal. It also helps entrepreneurs who want to establish new industries in the state by informing them about the infrastructure available at the proposed location. Someone can also retrieve information about his block by entering the district and block details. 

Deed Registration 

A property registration deed is a binding contract signed by two parties. When the property goes in the buyer’s name, they become the legal owners. This contract, known as the purchase/land deed, must be signed with the government. 

A purchase /land deed can be registered here. The e-appointment for signing up for this deed can be on the same website.

 E-payment is required for both registrations if the stamp duty payable on the deed exceeds Rs. 10,000/- and the registration fee due exceeds Rs. 5000/-, or both.  

This registration procedure is linked to the Income Tax Department, allowing PAN verification at the point of registration.

Application for Mutation Online

A mutation is a process of changing the title/ownership of property from one person to another when the property goes on sale. However, only when a property is registered can the mutation process begin. 

The mutation form is available on the Banglarbhumi web portal. Here, 

  • To avoid application rejection, the user must correctly fill out all the required information. Fill out the form completely and submit it. 
  • Upon submission of the mutation form, a reference number is assigned to the application. 
  • The user can use this application number to check the status of the application. 
  • Following registration, the user can pay the fee via the ‘Online Application Menu’ by selecting the ‘Fees Payment’ option. 
  • Before proceeding to the payment option chosen, the user must primarily enter the request type and application number. 
  • The mutation case number is immediately registered if the user pays the fees in ‘online mode’ (debit card/net banking). 
  • Assume the user pays the fees via the ‘counter payment’ option (offline). In this case, the user can check the status of his payment and registration by selecting the ‘Application-GRN Search’ option from the ‘Online Application’ menu.

Online request for a certified copy of plot information/Record of Right (ROR)/ plot map

West Bengal residents can obtain certified copies of the plot information/ROR/plot map by following these simple steps:

  • Navigate to http://banglarbhumi.gov.in/
  • Log in to your account by clicking on the ‘Citizen services’ tab. 
  • Choose the ‘Service delivery option’ from the menu bar. 
  • Select your requirement-ROR Request/Plot Info Request/Plot map from the ‘Service Delivery option’ in the menu bar. Request/ Request GRN search/ Reprint Application/ Receipt. 
  • After selecting the required option, they will be taken to a new page where they will be required to fill out the requested information. By clicking on ‘calculate fee,’ you can also automate the calculation of fees. 
  • In this case, online payment is required. 

Property Information 

Follow these steps to obtain information about property/ land records: 

  • Navigate to the Banglabhumi website’s homepage and select “Know Your Property” from the Citizen Service menu. 
  • Enter district, block, and village information. 
  • Use the ‘Khaitan number’ or plot number to find the data you require. 
  • The user will receive the required details once the appropriate number is submitted and matched with the records. 

How do I look up land records in West Bengal using a query number? 

When you go to the ‘Query Search’ tab on the Banglarbhumi home page, you can also lookup for land records in West Bengal information about your query. Simply enter the query number and year. Enter the captcha to view the details on Banglabhumi.

How do I check the RS – LR information on the Baglarabhumi website?

  • Visit the Banglarbhumi official website to verify the LS-RS information.
  • On the following page, go to banglarbhumi.gov.in 2020 citizen service and select the RS/LR option. 
  • Choose the district name, block, and village on the Bangla Bhumi website. 
  • Click on one of the two options: RS or LR on the Bangla Bhumi website. 
  • Enter the plot number and click on ‘Search on the Bangla Bhumi website.’

Lake View County Apartments for Rent

The routine of waking up with responsibility, following the rules, navigating congested traffic, and meeting deadlines continue throughout the typical day. After overcoming the challenges of daily life, a home provides comfort and safety. So why settle for an abode that fails to take the day out of your mind?

Metro cities only offer the two options of “splurge-or-adjust,” where you can spend a lot of money to get a large home or stick to a tight budget and settle for a cuboid. 

In contrast, greenfield projects in cities like Hyderabad, Pune, Chennai, and Ahmedabad have emerged with luxurious apartments and low-density complexes with large acres. 

In addition, Hyderabad currently leads the top eight Indian cities in terms of the number of housing sales per year as of 2022. A benefit is that cities that offer affordable housing are now more in demand!

A few benefits of renting a Lakeview County apartment are as follows:

A Fresh Breath of Air 

Polluted air, deteriorating health, and an intolerably hot climate are all costs of city life. However, when there is a water body nearby, it sends cool breezes your way. This lake breeze comes from regional variations in the wind that travel from water to land due to a temperature difference, typically from a lake or an ocean. 

Lakeview County apartments can be an excellent option to stroll along the shore for the utmost tranquility. Living in such an environment only has a few benefits, such as rejuvenation and good mental health. 

Individualized Space 

Most lake-view County apartments have limited separation, creating the impression that each unit is a singular space. The Lake View County apartments are conveniently isolated from the demanding and crowded areas of the focal city. As a result, you can anticipate more carpet space than in other projects with comparable configurations. 

Aesthetically-Pleasing 

Imagine waking up to serene waters that frame your small world and serve as a constant reminder that, despite the daily grind, all you need to get through the day is a brief moment of peace. 

Beyond aesthetics, living by a lake is considered a form of luxury. You can feel your inner energy rising by sipping tea while taking this ethereal view from your balcony. 

Property tax reduction 

Every owner of the property is required to pay property taxes. We all want to spend as little tax as possible while maximizing our income. That is why living in a lake-view county apartment is an outstanding choice.  It is so because the property tax for a piece of land is significantly less than that for an apartment or an item of commercial property. 

Passive Income Stream 

A Lakeview County apartment is related to the type of vacation as well. As a result, many households and working professionals prefer to rent cozy apartments with intriguing scenery. Such apartments get steady returns for homeowners. 

Conclusion 

We hope you know more about the main justifications for renting a Lakeview County apartment. Every type of person can find the best Lakeview apartment at a fair price. 

Explore Lucrative Plots for Sale in Hyderabad: Invest Wisely & Secure Your Future

Are you interested in investing in plots for sale in Hyderabad? Real estate is one of the main things that attracts inventors’ attention. People believe real estate is the safest investment because property prices rise frequently. So, who doesn’t want a return on investment?

Furthermore, real estate can be used to generate rental revenue, which is another reason why many people consider it an investment. People may consider investing in real estate for many reasons, which may explain why demand is increasing. The buyer and seller are the only ones who care whether the property is an office or a residence. The need for residential plots is skyrocketing.

Plots have undoubtedly become the go-to choice for investments in the post-pandemic real-estate marketplace. 

Popular plot features in Chennai 

If you’re looking for residential plots for sale in Hyderabad, many of the available lots include the usual amenities, such as:

  • Internal roads and footpaths: Most plots in Hyderabad include internal roads and paths to facilitate travel within the neighborhood. 
  • Gated community: To ensure safety and peace of mind, most residential plots are part of a gated community with security guards. 
  • Water Supply: To make life easier, all residential plots include a reliable water supply. 
  •  Sewage System: For safe living, most residential communities have sewage systems. 
  • Electricity: You can be confident that every plot will have a continuous power supply.
  • Gas supply: Cooking gas is also supplied to many residential areas in Hyderabad. 

To live comfortably in your new neighborhood, it’s crucial to consider all of this when choosing your plot. 

Factors to consider when purchasing a plot in Hyderabad

Here are a few things to consider before purchasing a residential plot in Chennai. 

Building Restrictions and Zoning Regulations

Be sure to familiarize yourself with all building restrictions and local zoning laws before doing anything because they will dictate what can be situated on the property. If you want to create something specific for commercial or residential use in the future, knowing what kinds of buildings can be erected in advance can save you a lot of trouble later on. 

Size 

When buying a plot in Hyderabad, you should also think about the plot’s size. The plot’s dimensions must be appropriate for the property’s intended use and financial constraints. A larger area might incur higher maintenance costs, while a smaller area may force you to give up space and comfort. Pick a size that fits your needs after carefully considering them. 

Location 

Before making a purchase, it’s critical to understand the neighborhood and determine whether it meets your needs. Do your homework and look into the area, amenities nearby, accessibility, and available public transportation. You can use this information to decide if this is the perfect place to live. 

Benefits of investing in plots in Hyderabad 

  • Lower Investment cost: Particularly in India, unoccupied plots are less expensive than standalone villas and apartments. Furthermore, property taxes for plots are lower than those for houses. Additionally, the cost of maintaining the land will not be prohibitive. 
  • Higher Return on Investment: If open plots are located in areas that are anticipated to experience growth in the future, their prices will typically rise more dramatically than residential assets. For instance, a plot’s value will undoubtedly increase if it is close to a highway or in an area where significant resources are being invested in building necessary infrastructure, bringing profits to the owner. 
  • Provisional choice and flexibility: People have much more leeway when pieces of land according to are more affordable. Plots can also be used for a variety of purposes. Some people build people homes on lots, while others prefer to create farms and henhouses. You can design your home as you make it on your build to suit your needs. Independent homes or apartments with distinctive designs are up for sale. Depending on your preference, you can also choose the neighborhood of your choice. 
  • Easily Manageable: It is also easy for owners of uninhabited lands to manage their properties much better, even from distant locations, than homeowners, as their properties do not attract maintenance overheads, unlike individual homes or apartments.  

In Hyderabad, there are 665 residential lands to buy on Propertywala.com, with prices ranging from Rs. 1.39 lakh to Rs. 30.6 crores (an average of Rs. 18,282 per square meter). Shadnagar, Kothur, and Ibrahimpatnam are locations where people go most often. 

Plots in Kothur, Hyderabad 

In Kothur, Hyderabad, there are 44 residential lands for sale on Propertywala.com, with prices ranging from 4.7 lakhs to 88.67 lakhs (or, on average, Rs 12,722 per square meter).  The plots provide features like a clear title, freehold land, a plot boundary wall, a society boundary wall, a corner plot adjacent to the main road, a green belt facing, water connection, electric connection, and connectivity to hospitals, schools, and shopping malls. 

Plots in Ibrahimpatnam, Hyderabad

In Ibrahimpatnam, Hyderabad, there are more than 40 residential lands for sale on Propertywala.com, with prices ranging from 5 lakhs to 80 lakhs (on average of 1089 sqft). The plots are near well-known towns, hospitals, or schools and adjacent to the main road.  

Conclusion

It’s a good idea to familiarize yourself with the various localities, amenities, and social infrastructure. If you’re looking for residential plots for sale in Hyderabad. To make the best choice when selecting an area, you can also look into the zoning laws and the city’s development plans and become familiar with the market rates and other pertinent information.

Finding the ideal plot in Chennai can be difficult, but with the right advice and investigation, you can make a wise choice. You can find the perfect location for your future home among the assortment of residential plots offered for sale in Chennai.

THE FUTURE OF INDIAN REAL ESTATE BY 2040

A small look at the real estate industry:

The word “real” is derived from the Latin root rex, which means “royal,” since the kings, in the past, used to own all land in their kingdoms. It is said that real estate is one of the most globally acknowledged sectors in the world. If we know real estate in terms of business, it means the game of producing, buying, and selling property. According to all the sectors of the economy, the construction industry ranks third among the 14 major sectors in terms of direct, indirect, and induced effects.

In India, after the agriculture sector, the real estate sector is to be considered the second-highest employment generator, and it is also expected that this sector will sustain more non-resident Indian (NRI) investment for the short term and the long term. Bengaluru is the top city that is expected to be the most recommended property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi, and Dehradun. 

The market size of the real estate industry by 2040:

The real estate market will grow to Rs. 65,000 crores (US$ 9.30 billion) from Rs. 12,000 crores (US$ 1.72 billion) in 2019 by 2040. In India, this sector is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021, and it will contribute 13% to the country’s GDP (gross domestic product) by 2025. India’s growing infrastructure is much needed to grow, as retail, hospitality, and commercial real estate are also growing significantly. Within a year, India’s real estate sector saw over 1,700 acres of land deals in the top 7 cities. In the commercial real estate sector, foreign investment was at US$ 10.3 billion from 2017-21. 

According to the report of ICRA (Investment Information and Credit Rating Agency of India Limited), Indian firms are expected to boost >Rs. 3.5 trillion (US$ 48 billion) through infrastructure and real estate investment trusts in 2022. According to the Savills India report, the real estate demand for data centers is expected to increase by 15-18 MSF in the year 2025, whereas in 2021, around 40 MSF were delivered in India. Now, It is expected that the country will have a 40% market share within 2-3 years, and India is looking to deliver 46 MSF in 2022. In India, a total of 55,907 new housing units were sold in the 8 micro markets between July 2021-September 2021, which means there is 59% growth year over year, whereas, in the third quarter of July-September 2021, new housing supply stood at 65,211 units, and increased by 228% YoY across the top 8 cities when compared with 19,865 units launched in the third quarter of 2020. When it comes to commercial space in Gurugram, it is expected to record increasing investments in 2021-22. 

According to the Economic Times Housing Finance Summit, about 3 houses are built per 1,000 people per year, compared with the required construction rate of 5 houses per 1,000 people. The current shortage of housing in urban areas is estimated to be 10 million units. An additional 25 million units of affordable housing are required by 2030 to meet the growth in the country’s urban population.

Growth of Real Estate Portals

With the onset of e-commerce, most retailers and sellers prefer to sell their products online, so it is only natural that, for the time being, the real estate market would follow the trend. Online property portals guarantee to be a noteworthy decision, offering an ample market with a much more hassle-free experience for all the peeps who are looking to buy, sell, or rent. 

In the past few years, real estate portals have evolved, in a nutshell. Gone are the days when exploring was confined to a particular region or developer. Real estate property portals are now supported by verified, extensive data analysis of every micro market, along with detailed property descriptions. These online portals are not only a one-stop destination for buying, renting, and selling, but also provide advice on getting financial loans and legal particulars.

Our significant center of attraction is to seek the answers to some questions, as- What is the Indian consumer searching for? The ways he is using it, the constraints he is facing, etc. And answering these inquiries with tech-driven solutions appears to be the route ahead in creating a robust business for the future. 

In India, the online real estate market is on the rise, with more and more people turning to the web for their property research. According to the statistics, over 5 million people are using the internet to research properties. And there are a few of its advantages, which are mentioned below: 

  • For migrants moving to a new city, online portals enable them to access information in one go. 
  • Listing your property online is normally free.
  • Both purchaser and dealer have immediate access to data that avoids the hassle of various phone calls and site visits. 
  • Purchasing, renting, and selling property is possible without contacting any real estate agent.
  •  All properties will be verified by the site itself to guarantee that no forged postings are available. 
  • Most sites permit photographs of the land which makes it easier for the potential buyer to have a sneak peek at their desired project.
  • Online property portals consist of filter options that provide the means to the customer to match their exact requirements. 

As the growth of the online real estate portal is our fundamental goal, in order to achieve that, we need to take care of our customers’ needs and dig deeper into how to make the market rise and our buyers happy.

Property tax for buyer

India is the world’s second-largest country by population and one of the most rapidly growing economies, making it a hotbed of real estate investment activity. The Indian real estate market is estimated to be worth US$180 billion and is expected to grow to US$1 trillion by 2030. The Government of India levies taxes on real estate transactions. 

Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax Deducted at Source (TDS) on the property is applicable when the value of the property is more than Rupees 50 lakhs. The buyer is required to deduct 1% of the value of the property as TDS, which is to be deposited with the Income Tax Department. Then submit TDS online by the 30th of next month in which TDS is deducted. Buyer is not required to take a TAN. Buyers can fill the form 26QB available on www.T I N – N S D L.com and deposit the government TDS. The buyer is also required to provide the seller with a TDS certificate in Form 16B as proof of payment. It is applicable on all properties except agricultural land.

Let’s have a look at some of the points to be noted:

  1. TDS is calculated on the base amount excluding GST.
  2. If the amount is paid in installments by the buyer, deduct 1% from each installment.
  3. In the case of a home loan, TDS is deducted at the time payment is made to the seller, not at the time when EMI is paid to the bank.
  4. In case there are two buyers and the individual purchase price is less than 50 lakhs but the combined purchase price is more than 50 lakhs, then TDS will be deducted.
  5. This is also applicable when the buyer is a nonresident Indian.
  6.  If the seller does not provide PAN, then TDS is to be deducted @20%.

In case of default to deduct or submit TDS

If the buyer does not submit TDS, the sub-registrar will not register your property, and you will not be able to get the property transferred to your name. TDS is a mandatory document and must be submitted to the sub-registrar. You can get a notice from the tax department as well. In some cases, officers can impose a penalty of Rs. 1 lakh as well.

If a buyer does not deduct TDS, the interest charged will be approx @1% per month.

And if a buyer deducts TDS but does not deposit it, interest can be around 1.5% per month.

Now the amount to be deducted would depend on the residential status of the seller, and the residential status of the buyer would not be considered.

TDS applicability if a Seller is an Indian resident

If the seller is an Indian resident, as discussed above, deduct TDS of 1% of the entire sale value and deposit the same with the government.

If the Seller is a Non-Resident Indian (NRI)

Here, TDS is to be deducted regardless of purchase price, it must be deducted on all properties.

This TDS will be on capital gains tax, which is the sale price minus the purchase price minus the expenses.

Nature of Capital GainsDescriptionTDS Rate on Sale of Property by NRI
Long-Term Capital GainsProperty held for more than 2 years20%
Short Term Capital GainsProperty held for less than 2 yearsIncome Tax Slab Rates of Seller

So, if the property is sold after 2 years, TDS will be deducted by the buyer at 20%. There will be a surcharge, for health, and education of 20%, depending on the budget of the property sale price. If the property is sold in less than 2 years, the nature of the capital gains will be short-term capital gains, and the TDS will be as per the IT slab for NRIs. 

The buyer will submit Form 27Q online and the TDS online. The buyer will give proof that TDS is deducted from the seller by giving Form 16A-NRI. If TDS is not deducted or deposited, the government will catch hold of the buyer, and the buyer must deposit it.

Trump plans widening its presence in India

US real estate major Trump now plans to expand their presence in India. The group plans to develop two luxury housing projects in Mumbai and NCR.

Trump plans to expand its presence in India.

Trump plans to expand its presence in India.

Trump, the real estate major of USA, is set to enter India. Its India-representative revealed that the group is looking to expand to India now. The US based real estate developer has already entered into talks with some top developers of the country.

The group plans to develop projects in Mumbai and in NCR. Two Trump-branded housing projects will be developed in these areas, said the representative.

The group’s first project is being developed in Pune. Trunk is developing this ultra-luxury project in collaboration with Panchshil Realty. Their Pune project marked their entry into the Indian realty market. Now, they move ahead with the plan to expand their presence in India, especially to Mumbai and NCR.

Their first project ‘Trump Towers Pune’ was launched in 2012. The project is considered as a project which marked the new arrival of elegant luxury in to the subcontinent.

Mumbai-based Tribeca Developers is appointed as India-representative. The group will find out more projects which could be developed under their brand.

Trump to develop two ultra-luxury housing projects

Trump to develop two more ultra-luxury housing projects in India.

They show keen interest on Indian realty market.  It was the first of its kind tie-ups of Trump which plans to make India one of their top markets, outside North America.

Tribeca will help the American firm to find out suitable project sites. Besides, it will also help them find reputable developers of the area who can join with the American real estate major.

Trump’s development arena is not limited to ultra-luxury residential projects. Their development is extended to hotels, mixed-use projects and Golf Course projects. All these will be developed in India too or they plan to do so.

Kalpesh Mehta, Tribeca Developers Managing Partner, said that the group is in advanced talks with some domestic developers. He added that the firm hopes to develop two ultra-luxury projects in NCR and Mumbai within a period of six months to a year.

Blackstone To Gain Huge Profit From Its JV With Embassy

Blackstone, one of the leading global private equity and investment firm, is set to amass a huge profit from its Joint Venture in Bangalore.

Realty investment in Bangalore gives a good reap to Blackstone

Realty investment in Bangalore gives a good reap to Blackstone.

Blackstone has, joining hands with Bangalore– centered real estate firm Embassy Property Developments, planned to develop a luxury-oriented residential project. The Blackstone- Embassy group will jointly develop 467 housing units; each unit priced between Rs.3 to Rs. 10 Cr, in the project.

Blackstone expects to gain around Rs.210 Cr from their JV. This is their first big investment in Indian real estate market.  In 2011 the global private equity major invested in Embassy Lakeside Terraces which is an ultra-luxury villa project. From their investment in the project, Blackstone is expected to gain around Rs.210 Cr which represents around 28% of the absolute profit. Continue reading

Indian Real Estate Market Among the Most Lucrative Sectors for NRIs

Indian real estate market is one of the most lucrative sectors for Non-Resident Indians to invest their foreign money. Moreover, this trend will continue for more 4-5 years as the consumption story of Indian real Estate market is not going to get over in near future leading to immense commercial growth prospects that in turn increase the demand for real estate. Although Indian Realty market is facing downfall, it is not correct to say that all cities are experiencing the same situation. It has been observed that some of the cities in India always have good chances of investment and these cities even in worst circumstances would be able to provide good investment returns. One more factor that attracts NRI’s to invest in India is the bigger geographical area. Unfortunately, NRI’s put their money into property prevailing in big cities and metros, but they should be informed appropriately about the outskirts of the big cities and even about the tier-2 cities that offer a great deal of real estate investment in present scenario.
Not only this, but the recent significant depreciation in the value of rupees in respect of dollar/pound/euro has given a profitable chance to the NRI’s to clandestine their foreign earned money into some good  investment plans. However, quite a few times NRI investors face some issues with liaison services in real estate industry, but once these intermediary services will improve more and more foreign investors would be lured to purchase property in India in lieu of high returns.
Foreign investment is also a good sign of growth for Indian Real Estate market as well. In this current state of affairs when the Indian Realty market is experiencing a huge downfall, the foreign investors seem to be the ray of hope. With more and more NRI’s investing in small and even big commercial properties in India, the Real estate market will soon see a huge intensification. It has been observed from past trends that around 70% of foreign investment has been done in residential sector, but according to the Indian developers there are various commercial investment opportunities also existing for the foreign investors who wish to set up a business in India.
However, it has been told by the real estate experts that present time when foreign currency is in appreciation, it is the encouraging time for NRI’s to make some good investment in realty market in India. Office plots, residential spaces and even apartments are easily available for NRI’s.
Indian property developers also have a notion that the downfall of realty market in India is the result of the global meltdown and depreciation of rupee. Their belief is not vague, but they also consider that ambiguities in western economies led to the build-up confidence of NRI’s into Indian market and they are keen on purchasing property here. Their investment is a huge support for Indian Realty market and soon with the rupee appreciation these investments will strengthen the economic situation as well.

Two New Shows ‘Made to Order’ and ‘Big Style Icons’ launched by Big CBS Prime.

BIG CBS PRIME has announced the launch of two new shows. The two new properties called Made to Order and BIG Style Icon are made keeping in mind the preferences of the people who live in style, the shows mainly focusing on the hottest properties in the Indian Real Estate market and an exclusive peek into the world of the elite, respectively.

Made to Order is like a journey into the best real-estate properties money can buy. Everyone dreams of owning a house so luxurious, so splendid that stands out amongst the others, but for most, these remain a dream. This show is targeted at the upper crest of society for whom nothing is out of reach!

Whereas, BIG Style Icons as the name suggests is a profiling of the lavish lives of society’s elite and the extraordinary and exclusive brands which are their favourites. The show will feature the people who are well known for their style quotient with hand-picked style icons which will see the likes of Vijay Mallya, Yash Birla, Shah Rukh Khan, MS Dhoni and Atul Kasbekar to name a few. The show will focus on an Icons’ favourite brands, preferred machines, his style statement, his workout den and much more.

Both properties offer an excellent and appropriate platform for marketers from the real estate, high end fashion brands and premium products, as the Channel ensures reach to a large relevant audience base with minimal spill-over.

Very soon BIG CBS Networks will be launching a multi-faceted promotional campaign for these shows. The properties will be extensively promoted and marketed across multi-media platforms of television, radio, OOH, print and social media platforms ensuring excellent reach for marketers associating with the properties.