The Finance Ministry said that there will be relief to the buyers of the flat who has booked their flats before the notification service and we are investigating on it. And the government has let off the tax for the flats which had been booked before the announcement of the prolonged construction service. So, here those who have booked the flats will get the ownership only after the announcement of the new services and they need not worry about their flats. This effect will start when the tax notification is finalized.
The classification of construction services and the levying tax should be expanded on the houses which are all under the constructions suggested the Union Budget. This new rule will come into the consequence when the Parliament endorses the financial statement, says the service tax and will be compulsory when the payments are made before the construction is completed. Already the real estate industries are paying 14-16% as circuitous tax and the government is reconsidering on the decision to increase the service tax. In the realty companies they usually sell the properties before the construction and they even fright that the move will hit the sector hardly that the home prices and the depress demand may go high.
The government has also planned to include the charges like development fee, premium location charges and parking fee at the time of the completion of construction from the basic price. And 33% of the base price will be paid for the service tax duty at the rate of 10% and the effectual tax to 3.3%. The Revenue Secretary Sunil Mitra has said that the suggestion will not be hike prices by more than 3.5%. The government will stay hard on the levying the tax and the construction is a service and there is no reason why the construction service should be taxed. And it is only 3% or 3.5% which gets added up for the buyers.
Source: NIMMA BENGALURU
Apartments, Flats and Property for Sale in Bangalore
Sep 21, 2016
Mahaveer Zephyr is a residential development of Mahaveer Group. It is located off Bannerghatta Road,..
Sep 16, 2016
Salarpuria Sattva Opus has pre- launched Bangalore a Premium Gated Community Residential..
Sep 14, 2016
Goyal Orchid Whitefield project is spread across 7 acres of land and it offers 1, 2, 2.5 & 3 BHK housing apartments with comfortable..
Sep 08, 2016
Area: 1272 sft.
Car Park: 1 slot.
Price: 1.05 Cr. Incl. 1 Car park & deposits..
Aug 30, 2016
Codename five rings is brand new venture of developer, nicely instituted at Sarjapur in Bangalore,..
Aug 29, 2016
Legacy Estilo Bangalore offers 1, 3 and 4 BHK apartments for buyers and consists of 58 units in all...
Aug 24, 2016
Peninsula Land is now in Bengaluru, with a luxurious gated residential complex “Peninsula..
Aug 22, 2016
Legacy Celino is located in Thanisandra, Hebbal to Airport in Bangalore. Legacy Celino is currently a..
Aug 16, 2016
Bhadra Legacy is a modern luxurious living space at a premium location of Bangalore, MG Road. The 19 super luxurious apartments offers a..
Aug 11, 2016
Godrej 17 brings to the market a wide range of apartments for families of all sizes at an affordable price..
Apartments, Flats and Property for Rent in Bangalore
Sep 16, 2016
Fully furnished Flat for Rent at Cookes Town ( Lloyd Road) 3 BHK with Car Parking, Lift, Power Back up,
24hrs water, Good Location with all..
Jul 25, 2016
The House available for Rent is in the First floor
The locality of house is Near Koramangala
and Outer Ring Road
House No. 12, 19thA Cross, Near..
Jul 02, 2016
Flat for Rent at Cookes Town 2 BHK with car parking 24hrs water, Lift, Power Back up, Good Location with all Basic Fecilities. Rent0..
May 28, 2016
A spacious 3 Bedroom flat is available for Rent in Kadugodi, Bangalore. It is located on the 2 Floor. It has a covered area of 1650 Sq-ft. The..
May 24, 2016
2bhk ready to move closer too all basic needs
closer to all IT CO. very good and safe..
May 02, 2016
Flat for Rent at M.G Road (Vittal Mallya Road ) 2 BHK Ground Floor Built up - 1340 sq feet, North Facing 24hrs water, Lift, Power back up, Good..
Apr 28, 2016
New Flat for Rent at Frazer Town 2 BHk with car parking Lift, power back up,24hrs water Good Location with all Basic Fecilities, Rent..
Apr 12, 2016
3bhk Pent House For Rent in Akme Ballet Apartment For 52k Call SAIF
Size: 3BHK (2300sft)
Area: Outer Ring Road, Dodda Nekundi, Bangalore
Mar 19, 2016
Rs20000 / 2br - 1100m2 - 2 BHK house for rent (kundanhalli..
Mar 18, 2016
*SPACIOUS FLAT WITH EXCELLENT DAY LIGHT( NATURAL LIGHT) AND AIR CIRCULATION
* Furnished with Sofa set, TV cabinet , Double bed , Exhaust Fans,..