In the pursuit of timely housing project completion and bolstering transparency and accountability within the sector, MahaRERA’s discussion paper on Collection, Separate, and Transaction accounts seeks to have a systematic policy framework on utilization of funds, thereby guaranteeing their targeted allocation and distribution.
Understand the significance of OC and CC in Indian property transactions. Learn why these legal documents are crucial for ensuring compliance and safety in real estate ventures.
When you sell a property, be it a home or land, you have to pay capital gains tax on the same. Capital gains tax is of two types- Short-Term Capital Gains (STCG) for a property held for less than 36 months and Long-Term Capital Gains (LTCG) for above 36 months.
NRIs can buy or own a property in India. However, there are legal provisions, which the NRI should be aware of before owning or purchasing the immovable property in the country within the FEMA. The FEMA stands for Foreign Exchange Management Act. The NRIs and PIOs are treated at par when it comes to investment in real estate.
Completion Certificate is a crucial document in the context of real estate and construction, not just in Pune but in many places worldwide. It signifies that a building or property is safe and suitable for occupancy.
Tax Deducted at Source (TDS) in real estate transactions is a mechanism where the buyer or transferee of a property is required to deduct a certain percentage of the transaction amount and deposit it with the government as tax.
