Wednesday, October 29, 2014

Legal help for property bought

Hello Everyone....

Lets say you have already bought your dream and now you want to complete all the related paper work such as becoming a member of the Building Association and getting mutation done of your flat and so on. May be you are looking for someone like us who can assist you in getting all these done from the comfort of your home.. You wont have to do the running about in the various Government Departments and so on.. sounds good ??

Well give us a call today at 90073-18000 to find out how we can assist you...

and do visit the web page http://www.rarealty.co.in/realty-consultants/ to know more about us !!!!!

Thursday, October 9, 2014

3 BHK in Dover Lane Gariahat

                                            

This resale property is  in Dover Lane near Gariahat Police Station, posh South Kolkata.

 Its  G+4 / 1000 sq.ft /  3 BHK+2 BATH / North-East facing /on  4th floor . Here we have a lift too from the 1st floor / parking / water supply / power backup and more. Its about 15 years yrs old & value is 85 Lakhs . It is just 2 mins walk from Gariahat Police station.A prime location and a not to be missed property…







Monday, April 21, 2014

Superb 3BHK Flat In Rajarhat

3BHK In a Mega Residential Complex is available on Raigachi .The location is excellent . It is on the Rajarhat Main Road . It is of 1110 sq ft, ideal flat for a family which is looking for flat in a complex with modern facilities.The asking price is very reasonable.. and  we can arrange for Bank loan too. Contact us for details.. the price range of the flat is between 40 to 45 lacs only!

Wednesday, April 16, 2014

2 BHK in Bangur

A small flat in Bangur has come to us. The location is amazing. It is close to bangur Petrol pump, on Jessore Road. It is of 720 sq ft, ideal flat for a small family or a nuclear family. The asking price is very reasonable.. and  we can arrange for Bank loan too. Contact us for details.. the price range of the flat is between 25 to 0 lakhs only!

2 BHk in Bypass can be yours now !!

Find 2 BHK in Bypass area, commonly known as EM Bypass, Madurdaha. It is just 2 mins from the main Bypass road, very close to Bhowmik marble.the flooring is marble, south and south east facing flat. south facing flats are at a premium and this flat is on the second floor, on a main road. You can simply walk upto the bypass and use the metro, and in any case garia metro is at a stone's throw. bank loan available. It is in the budget of 55 lakhs and above. Contact us for details at 8584021918

Thursday, March 6, 2014

Where are the rich buying property?

    Where Is The Wealthy Indian Buying Home

    *London, Dubai and Singapore are the popular destinations for wealthy
    Indians when it comes to buying homes abroad*

    *A majority of real estate buyers on foreign shores comprise people who are
    looking for a second home or a place to holiday in, and for those whose
    children are studying abroad.*

    *Back in the 1990s, owning a house or even an apartment in south Mumbai
    meant serious wealth. For the new rich, or ultra high networth individuals
    (HNIs) of today, to whom no place is too far to go and no price too high to
    pay, that address is pretty much passe.*
    *"Some of the fanciest districts in the world, such as Kensington,
    Belgravia or Holland Park in London or prestigious locations such as the
    Burj in Dubai and Nassim Road in Singapore are among the most popular
    global locations for Indian ultra HNIs to own luxury residential
    properties," in a recent report.*


    *Indians were among the top five international real estate buyers in the US
    in the year ended March, according to the US National Association of
    Realtors. Indians, along with buyers from Canada, China, Mexico and the UK,
    accounted for some 53% of international property buyers in the US in the
    year ended March, according to a survey by the association.*

    *The global financial crisis and recession that followed the collapse of
    Wall Street investment bank Lehman Brothers Holdings Inc. in September 2008
    opened up the foreign real estate market to Indian buyers. As European and
    American home owners struggled to repay their mortgages, and property
    prices plunged, Indians who had the means pounced on the opportunity.*

    *Money is no object. According to the Forbes Billionaires List, the number
    of Indian billionaires increased to 55 in March from 48 last year. The
    combined wealth of Indian billionaires as of March 2013 was $189 billion,
    which, to put it in perspective, is roughly one-and-a-half times the size
    of Bangladesh's economy or three times the size of the Sri Lankan economy
    in 2012, according to International Monetary Fund (IMF) figures.*

    *Top of the Pyramid report, defined an ultra HNI household as one having a
    minimum average net worth of Rs.25 crore, essentially accumulated over the
    past 10 years. The latest report pegs the number of such households in the
    country at more than 100,900, which is poised to more than triple to over
    329,000 by 2017-18.*
    *The 2013 report says that driven by increasing globalization, comparable
    valuations overseas and investment considerations, more and more ultra HNIs
    are purchasing luxury properties abroad in places such as Singapore, London
    and Dubai.*
    *photo*

    *Report 2013 says that despite recent economic concerns, the number of HNIs
    in India is expected to more than double over the next 10 years, rising
    137% in Mumbai alone.*

    *The report says that prime residential and commercial property in
    relatively risk-free locations has always attracted investors in times of
    economic and political turbulence.*

    *"There is something comforting about tangible assets that, barring
    natural disaster, will retain their inherent value over time, even if
    prices dip in the short term," says the report.*
    *"Wealthy investors are also starting to buy into recovery, breathing new
    life into previously moribund markets such as Dubai and Dublin."*

    *A majority of real estate buyers on foreign shores comprise people who are
    looking for a second home or a place to holiday in, and for those whose
    children are studying abroad.**"Education- and business-related interests
    are the major drivers behind such acquisitions," *

    *Australia, the Middle East--including Dubai, Muscat and Abu Dhabi--and the
    UK (especially London) and the US are the prime locations, *

    *Then there are people who are working outside India and for whom buying a
    home in the country they are employed in makes more sense than buying one
    in India.**"Consumer knowledge has grown tremendously and the Indians
    buying abroad are doing so with more information than ever," *
    *"Understanding of the markets has changed," report says ."More and more
    Indians are buying property outside the country today compared with five
    years ago."*

    *To be sure, the ardour to buy property overseas has been culled by an
    August move by the Reserve Bank of India (RBI) to restrict investments
    outside India in an attempt to stop outflows of dollars and stem the
    rupee's decline against the dollar. The central bank has subsequently
    clarified that the measures are temporary. **Report admits that buyers have
    become more cautious after RBI's move.*

    *"Due to this change, investing in properties abroad is not a viable
    proposition anymore," says a consultant working with a global property
    consultancy who asked not to be identified. "Moreover, for the builders
    abroad as well as the global property consultant, marketing global
    properties in India is not attractive any more."**"But it is too early to
    say how this is going to impact the buying behavior of people," he says.*

    *There are reasons why buying property overseas has become attractive to
    Indian buyers--the growing population of cities such as New Delhi and Mumbai
    and rising prices of real estate at home.*
    *According to International Residential Index, residential real estate
    prices in Mumbai are now on par with those in cities such as Dubai, Los
    Angeles, Miami, Rome and Tokyo.**The choice of location is the predominant
    factor, according to the TOP report. "All other things being equal," the
    study says, "factors that come into play in the purchase decision include,
    among others: the extra lifestyle benefits (such as a clean environment,
    better managed public infrastructure, entertainment facilities, health and
    sanitation) that accrue in cities such as London and New York; and the safe
    haven status that some of these cities offer (because they have been able
    to better withstand global financial and economic turmoil)."*

    *"Today's Indian consumer buying properties abroad is backing up his/her
    investment with solid reasoning," says report. "For tax-free investments
    people are looking at Dubai, Singapore tops for its proximity to India plus
    its booming economy. For returns on rental investment the
    current favorite is London."*

    *In reality, however, tax forms only part of the picture for the rich when
    it comes to buying property, according to the report. "What they really
    value...is the lifestyle that comes with an open, cosmopolitan environment
    and both personal and property security."*
    *"The other important factor when choosing a second-home location was its
    potential to provide a long-term safe haven for capital," says the report.*
    *According to report, familiarity with markets is the biggest "make or
    break" factor for all Indian consumers. "Despite the many attractive
    options available widely, Indians still gravitate towards tried-and-tested
    markets mostly."*

    *The size and the scale of property purchases differ according to the need
    and resources of the individuals as do the prices.*
    *"London and Singapore are the most popular and also some of the most
    expensive markets. Usually, a good starting price for a decent property in
    these places is around $1 million. Dubai and Malaysia present opportunities
    to grab early-stage investments (i.e. bargains) and a good price there
    would be around $300,000," says report.*

    *Understanding of the markets is changing, report says/*
    *"For homes that would cost around £2-3 million in India, people are now
    willing to shell out upwards of £10 million in London," he says.*
    *Some of the properties in central London, which is one of the most popular
    destinations, would cost anywhere between £3 million and £15 million.*

    *Source :Economic Times*

Sunday, March 2, 2014

3 BHK near Khudiram metro

3 BHK in kamalgazi Garia
mini complex with Community Hall, Gym etc
No swimming pool
45 Lakhs onwards, flat sizes 1191 sq ft onwards for  BHK
Contact us at 85840 21918 for details
LICHFL financed project
pre approved project, easy Home Loan
Excellent location
Renowned builder
Possession end 2015

Basic Tax Fundas


    Tax treatments for house rent and home loan* *"*

    *Sanjay, currently employed with a private company, is staying in a rented
    apartment in Mumbai and has bought himself a property in Calcutta for which
    he has taken a home loan. He finds himself in a dilemma while filing the
    tax returns -- " Can I claim both HRA and home loan benefits?" This seems to
    be a confusing point for most taxpayers.*

    *When Sanjay pays rent, he is definitely allowed to claim exemption on both
    the house rent allowance ( HRA) and the home loan under the income tax act.
    Let us evaluate various possible situations individuals can find themselves
    in and understand what the income tax act permits them to do.*


    *Situation 1: You live in your own house. You have taken a home loan and
    residing in the house purchased with it. Since you are residing in your own
    house, you will not be able to claim HRA. However, you will be able to
    claim tax benefits on both the principal and interest repaid on the loan.*

    *Situation 2: You own a house in another city. This is the situation faced
    by Sanjay. He resides in Mumbai but has bought an apartment in Calcutta
    with a home loan. Sanjay will be entitled to HRA exemption and tax benefits
    on both the principal and the interest repaid.*

    *Situation 3: Your house cannot be occupied at this point. You have bought
    a house in Mumbai with a home loan but you're currently living in the same
    city in a rented apartment because the house is under construction.*

    *In such a case, you are eligible to claim HRA. In the case of tax breaks
    on the home loan, you can claim benefits only on the principal component
    before the completion of the house. Once the house is complete, you can
    claim exemption on the total interest paid up to the date of completion in
    five equal installments in five years, beginning from the year of
    completion.*

    *Situation 4: You have a house which is ready for occupation but you cannot
    reside in it. You have bought a house in Delhi with a home loan. Though the
    new house is complete, you continue to live in a rented apartment in the
    same city as the house you have bought is far from your office.*

    *In such cases, the income tax act permits the individual to claim HRA and
    home loan benefits, which include both the principal and the interest
    repaid on the home loan.*

    *Also, note that if your house remains vacant, you will still need to pay
    tax on a notional rent income.*

    *Situation 5: You have rented your own house while you are residing in a
    rented house. You took a home loan and your house is ready for occupation.
    However, you have rented the same out while you are residing in a rented
    house. The income tax act will allow you to claim both HRA and home loan
    benefits. However, since you have also been receiving rent, income from the
    latter will be taxable at your hands.*

    *Now, that we have dealt with all the possible situations, let's take
    Sanjay's situation as an example to help you figure out how to get the
    benefits.*

    *The income tax act treats HRA and home loan deductions under separate
    sections independently. The two are not interconnected. HRA is dealt with
    in Section 10( 13A) Rule 2A, while home loans are entitled for tax benefits
    under Section 80C ( on the principal repayment) and Section 24 ( on the
    interest payment) of the income tax act. Hence, feel free to avail yourself
    both the exemptions.*

    *Relief on home loan Suppose, Sanjay had purchased an apartment in Calcutta
    for Rs 38 lakh three years back. He took a home loan of Rs 32 lakh to fund
    the purchase.*

    *So far, this year he has repaid an interest of Rs 3.3 lakh and a principal
    amount of Rs 60,000.*

    *Section 80C offers tax rebate on home loan up to Rs 1 lakh and Section 24
    on interest up to Rs 1.5 lakh. So, Sanjay can utilise up to Rs 1.5 lakh on
    the interest he has paid and get the tax benefit in full for the amount
    paid towards the principal.*

    *HRA calculation Sanjay earns a basic salary of Rs 40,000 per month and has
    rented an apartment in Mumbai for Rs 20,000 per month ( he is eligible for
    50 per cent of the basic pay for HRA exemption as he resides in a metro).
    The actual HRA he receives is Rs 25,000.*

    *The following values will be considered to find out his HRA tax exemption:
    a. Actual HRA allowance from the employer, that is Rs 25,000 b. 50 per cent
    of the basic salary as he resides in a metro ( else 40 per cent), that is
    Rs 20,000, and c. The actual rent he pays for the house, from which 10 per
    cent of his basic pay is deducted, that is Rs 20,000 - Rs 4,000 = Rs 16,000
    His actual HRA exemption will be the least of the above figures. Hence, the
    taxable HRA amount for Sanjay per month will be Rs 25,000- 16,000 (
    available HRA deduction) = Rs 9,000.*


    *Source : Bankbazaar*

Thursday, February 20, 2014

Why you should buy a home before 31st march

    Buy your first home by Mar 31

    *Those planning to buy their first house should rush and complete the
    formalities by March 31 to avail of the additional tax benefit against the
    interest paid on a home loan. That's because an exemption available to
    taxpayers will lapse in the current financial year which enables them to
    reduce the interest paid from the taxable income. The reduction can be up
    to Rs 1.5 lakh under section 24 of the Income Tax Act and up to Rs 1 lakh
    under section 80EE against the interest paid on home loan.*

    *The benefit under section 80EE can be availed only to buy the first house
    of a value of Rs 40 lakh, provided the maximum loan amount is Rs 25 lakh.
    The second provision is due to lapse. But those who have already borrowed
    need not worry. The provision was introduced in the 2013-14 budget,
    although the benefit was available only for a year to provide a much-needed
    impetus to housing, which has been hit by rising interest rates and falling
    real income levels. *

    *In the Vote On Account presented on Monday, finance minister P Chidambaram
    decided not to amend any direct tax provisions, many of which are due to
    end on March 31, 2014. Although the next finance minister has the option to
    reintroduce the benefit, it may not be available for the first three-four
    months of 2014-15. Similarly, the benefit of income tax rebate to companies
    which are involved in power generation and distribution will also lapse.
    The provision of lower dividend tax paid by Indian companies on dividend
    received from foreign companies will also lapse on March 31, 2014.*

    *Source : Economic Times *
     

Friday, January 3, 2014

Know your rental issues

    *"**Rent Received vis-a-vis Rent paid**"*


    *All of us as human beings have three basic needs Roti, Kapda aur Makaan. *



    *Last one is of special importance as it is the most difficult one to
    acquire and we spend major part of our working life in saving money for the
    same. *



    *The lucky ones who are able to own second property than what they need for
    their own use can get rent from it. But those who are not that lucky and do
    not own even one, can live in one by paying rent. Our income tax laws have
    provisions for both the scenario – where one is taking rent and other where
    one is paying rent with respect to house property. *



    *Tax implication for both the scenarios. *



    *Income tax treatment for rent paid:*



    *The tax benefits available for rent paid in respect of house property
    occupied by you can be classified into two categories – one where the tax
    payer is in receipt of House Rent Allowance popularly known as HRA from
    employer, other where one is not in receipt of any HRA, may be employed
    or self-employed.*



    *Persons in receipt of HRA: *



    *Though full HRA received by you is not always exempt from tax but Income
    Tax Act allows certain exemption in respect of HRA received. The extent to
    which HRA received by you shall be exempt depends on various factors like
    actual rent paid by you, the city you are living in and your salary.
    However in case where though you are in receipt of HRA but are not paying
    any rent, whole of the HRA received by you shall be taxable in your hands. *



    *The exemption shall be least of the following three items. *

    *a) Amount of HRA - House Rent Allowance actually received *

    *b) 50% of your basic salary and dearness allowance in case of person
    residing in any of four metros and 40% of basic salary and dearness
    allowance in other cases.*

    *c) Amount of rent paid by you in excess of 10% of your salary. *



    *Let us understand this with an illustration. *



    *For a person residing in Mumbai whose basic salary inclusive of dearness
    allowances is Rs. 25,000 per month is in receipt of HRA of Rs. 14,000 per
    month. He also pays monthly rent of Rs. 10000. *



    *The extent to which the HRA shall be exempt shall be Rs. 7500/- being
    least of the following: *



    *1. HRA actually received Rs. 14,000*

    *2. 50% of salary Rs. 12,500*

    *3. Rs. 7,500 being rent paid beyond 10% of salary ( rent actually paid Rs.
    10,000 - 10% of salary Rs. 2500 = 7500)*



    *So out of Rs. 14,000 of HRA received only 7500 shall be exempt and the
    balance of Rs. 6,500 shall be taxable. The above working shall be done for
    the number of months for which the employee has paid the rent.*



    *Persons who are paying rent but not in receipt of any HRA: *



    *Section 80GG of the Income Tax Act grants tax benefits to the people who
    though are not in receipt of any HRA are still paying rent for the house
    occupied by them. This provision applies to employed as well as self-
    employed persons. A person shall be allowed deduction in respect of the
    rent paid by him which is in excess of 10% of his total income. However the
    actual amount of deduction i.e. excess of rent paid over 10% of your total
    income should not exceed in case 25% of your total income. However in case
    the deduction so calculated exceeds Rs. 2,000 per month then the amount of
    deduction shall be restricted to only Rs. 2,000 per month,*



    *Let us understand this also with another example: *



    *The rent paid is Rs. 60,000 for the whole year and the total income of the
    person is Rs, 2,50,000. *



    *He will be entitled for a deduction of Rs. 24,00 being least of the three
    calculated as hereunder:*



    *1. Rs. 35,000( i.e. excess of rent paid over 10% of total Income
    60000-25000)*

    *2. Rs. 62,500 (25% of total income)*

    *3. Rs. 24,000 ( Rs. 2,000 per month)*



    *As compared to the benefits available to people who are in receipt of HRA
    the benefit offered to people who are actually not in receipt of any HRA is
    very insignificant which in my opinion is very unjust. The restriction in
    terms of absolute entitlement of Rs. 2,000 per month needs to be revised
    upwardly as the same was fixed in April 1998 and the rentals and real
    estate prices have since gone up manifold.*



    *Tax treatment of rent received:*



    *After having discussed the tax treatment for rent paid by you in respect
    of house property occupied by you, now let us understand the tax treatment
    when you receive the rent in respect of the property owned and let out by
    you. *



    *In case you own a property and have let it out, the rent received by you
    is taxable under the head “Income from house property”. However before such
    income is calculated you are allowed two items to be deducted from the rent
    received. The first deduction is a fixed 30% of the rent received by you.
    The second deduction is in respect of interest paid by you on loan taken
    for the purpose of acquiring, constructing or repairing, renovating the
    house property. There is no restriction on the amount of deduction that is
    available to you in respect of the interest paid on loans for such
    properties. The deduction shall be available in respect of the interest
    payable for the year in respect of the loan taken for the property. The
    deduction of interest is available even if you have borrowed the money from
    your relatives and friends and not necessarily from any bank or housing
    finance company.*


    *Source : Apna paisa*