Posts Tagged ‘Tips’
Saturday, June 20th, 2009
Shobha Developers Bangalore received approval to raise its share capital to Rs 1500 Crore. The company got approval from shareholders at its shareholders meeting hike Foreign Institutional Investors limit to around 100% of company’s equity share capital.
Shobha Developers said that on shareholders meeting company received approval from shareholders to raise Rs 1500 crore from domestic and international market. Company will also hike Foreign Institutional Investors (FII) limit to 100%. The company said in a filing to the Bombay Stock Exchange (BSE).
The company would raise capital to Rs 1500 crore from International market by issuing shares through American Depository Receipts, Global Depository Receipts and from domestic routes through warrants and debentures.
Further, the company will increase the FII investment limit in the company to 100% of the paid-up capital, provided the equity shareholding of each FII shall not exceed 10% of the total paid-up equity share capital of the company.
Reference:
sobha developers gets shareholders nod to raise rs1500 crore
Tags: Apartment, apartment buy-sell, Apartment India, Bangalore, capital, Housing Developement, Housing India, indian real estate, market trend, property, Real Estate India, shobha, shobha developers, Tips
Posted in Builder | No Comments »
Friday, June 19th, 2009
Real estate market in India has seen decline in property price for several month which attracted home buyers and investors towards real estate industry. In last few months there was a rise in demand for property and market trend favored buyers by cut down in registration cost, lowering rate of interest for home loans, builders offering property at attractive price.
That is stage is over and now property buyers can see rise in price of property. For builders liquidity position has eased, the cash flows have improved and they have cleared off existing inventories. The rise in property price depends on market trend and builders. If there is more demand for property, builders will increase the price of property. When checking the market trend and builders history, there was no increase in price for last 15-18 months. Builders had lowered prices when they were in trouble, now there is a good possibility of rise in price.
Builders regained confidence and enthusiasm that stable government will lead to improvement in economic condition. Builders can raise fund either by loans or through equity or QIP. The housing companies have seen growth pick up from the end of February. The growth for LIC housing Finance is mostly from retail finance.
In short, people cannot expect a further fall in property price. Builders will raise property price depending or market trend and demand for property. Buyers can get best from current market price where banks offer loans at affordable rates.
Reference:
The Hindu Business Line
Tags: Apartment, apartment prices, Bangalore, Buying, Home Loans, Housing, Housing Developement, indian real estate, market, market trend, property, Real Estate India, recession, rising prices, tax, Tips
Posted in Apartment Buying | 1 Comment »
Tuesday, June 16th, 2009
BBMP has released the list of owners who have paid their property tax 2008-09. You can check the details of your property tax paid and if you find any discrepancy, you can report BBMP online.
BBMP is updating list of property owners who paid property tax 2008-09.The property has been indexed Assistant Revenue Officer (ARO) wise, Ward wise and Street wise. This enables property owners to check the tax payment details easily.
Checking tax payment details
- Click on “Property tax paid by tax payers for 2008-09” to check your payment details.
- This will lead you to guidelines to use the site for checking your payment details. Click “Next” and again click “continue” to proceed further.
- On next page you can see two link one for property tax payers who filed return and other for tax payers who have not filed return. Click on the property tax payers who filed return.
- You can see list of ARO, select the ARO which is applicable for you, then your ward and street. After selecting your ARO, ward and street click on “Report” to view the details.
- This will generate list of tax payers in your locality or area. To view the details of return filed click on green link “Click” This will ask you to feed cheque/DD/ pay order number to view the details. Enter your cheque or DD number to view the details of payment.
- If the details found have any error or discrepancy in the report, you can report the same to BBMP online. To report discrepancy click on blue link “Click”. Enter the details of payment such as cheque or DD number, amount paid, Name and branch of bank and feed back or remarks. On remarks/feedback column you can briefly explain the discrepancy details. Click “Send” to send the discrepancy details.
If your property details is not found in list
Don’t get panic if your name is not in the list of property tax payers list even though you have paid property tax in time. BBMP is been entering the data of property tax payers, you can report your details to BBMP showing that you have paid property tax. You need to follow these simple steps to report BBMP.
- When you visit BBMP website and entered the details of ARO, ward and street, report will generated showing the list of data available of property tax payers.
- In the bottom of the page you can see a link “If your property is not found in the list Click here to give Details”. Click on the link to give to your details.
- You will get a page to enter the details. You need to enter your application number, details of cheque or DD such as Name and branch of bank, cheque number, Amount paid. You need to select the help center name from the list. Enter remarks for the same.
Report Discrepancy
- Green Link: Green link enables property owners to view the details of property tax return filed. To view detail you need to enter you cheque/DD/pay order number and click continue to view details.
- Blue Link: If there is any discrepancy in the details entered by BBMP, property owners can report the same to BBMP in online. This link can also be used by tax payers to give feed back or suggestion to BBMP.
- Brown Link: If a tax payer does not find his return entered, he can use this link to report the same to BBMP. Now Bangalore citizen can also provide information of Evasion of property tax. To provide information on evasion of property tax, citizen can application number of property owner and give brief description about evasion of property tax and BBMP will verify the same. Brown link is at the bottom of page where list of property tax payers are listed ARO, ward and street wise.
Pay your property tax for 2008-09 on or before June 30 and remember now citizen can inform the tax evaders in just a single click. Brown link helps BBMP to get evasion of tax and any complaints. Make prompt payment of your property tax and save from penalty.
Links to Refer:
BBMP Property tax system (property tax 2008-09)
BBMP-Bangalore
Tags: apartment buy-sell, Apartment India, Bangalore, bbmp, indian real estate, market trend, online tax, property, property tax, Real Estate India, Tax calendar, Tips
Posted in Bangalore | 10 Comments »
Monday, June 15th, 2009
Property owners in Bangalore will experience new method of paying property tax from this July. Online system enables property owners to pay their property tax online using their Visa/Master card without any extra charge on their card. From this July onwards you no need to stand in queue or wait for assistance at help center.
The meeting held between BBMP and revenue officers for discussing the action plan for 2009-10 come up with decision to go online. A training session is also planned to organize before July 1 or before system becomes operational in full capacity. BBMP hopes to redress tax issues of current block period. Some corrective measures by adopting online system are reducing manual process, accepting only completely filled forms and an opportunity to make prompt payment of property tax by the owners outside the city.
If you want to pay your property tax by cheque, you can fill up the form online and download them to submit at respective help center. There will be two forms available online.
- Form IV for property where there is no change in built-up area or property usage
- Form V for the property with changes in these parameters.
Paying property tax online
- Login to BBMP website www.bmpoline.org and enter your application number in the box to get access to details of previous tax paid.
- Fill up the mandatory field and details of tax calculated. To pay property tax you can either pay online using Visa/ Master card or download the filled up form to pay by cheque.
- To pay online enter the details of card and submit it. Download the acknowledgment receipt on submission. BBMP will send the hard copy of the same.
- To pay by cheque, submit the cheque at respective help center along with downloaded filled up form.
From the beginning of July, you need not require to stand in queue or run towards help center for paying property tax. You can pay your property tax using your Visa/ Master card. National Informatics Center and IDBI bank has agreed to provide the `payment gateway‘ free of any extra charge on the card user. Pay your property tax online and remember to download the acknowledgement receipt after submission.
Links to Refer:
Pay your property tax online
www.bmpoline.org
Tags: Apartment, Bangalore, bbmp, Buying, Housing India, indian real estate, online tax, property, property tax, Real Estate India, Tax calendar, Tips
Posted in Bangalore | 7 Comments »
Monday, June 15th, 2009
The Stamp and Registration Department will catch up and implement e-stamp project for registration of property. From this August onwards, you will not have to stand in long queue at sub registrar’s office or in bank to purchase stamp papers.
E-stamping is computer based application which enables you to pay for stamp duty using electronic device. It is safe, secure and easy process of paying stamp duty when comparing to traditional stamp duty payment. In short, “e-Stamp” means an electronically generated impression on paper to denote the payment of Stamp duty, by Central Record Keeping Agency or ASC.
At present government has authorized national banks to sell stamp paper and these bank will continue issuing stamp paper but not under e-stamping system. Government will take decision on whether to with draw the service or not depending on success of e-stamp paper. The system was launched with association of Stock Holding Corporation of India Ltd (SHCIL).
In future, payment of stamp duty will be collected by Authorized collection Centre (ACC) or Authorized Stamping Center (ASC). The ASC official will feed details of transaction after collecting stamp duty and will generate a stamp duty paid certificate. This will not take more than five minutes. The revenue department has framed separate rule under Karnataka Stamp Act for implementing e-stamping system The Karnataka Stamp (Payment of Duty by Means of e-stamping) Rules, 2009.
E-stamp certificate is temper proof with security features such as 2-dimensional barcode, watermark and micro-digiting. The agents have to register with SCHIL and need equipments such as computer with internet, printer and other related infrastructure. Agents could be post office, banks or charted accountant and they will get 0.15% from SCHIL on each transaction. E-stamping was launched by the state government in 2008 with a pilot at Gandhinagar sub-registrar office which spread to other four SR offices.
Applicants for e-stamp duty need to pay ASC official for stamp duty and they will feed the details or information provided by applicant and downloads the e-certificate. The print out of same is taken and sign with date and official seal. Non-washable permanent black ink is to be used by official to sign. Applicant can go to sub-registrar office with the certificate.
Links to Refer
Tags: Bangalore, bbmp, Buying, e stamping, e-stamp, Housing, indian real estate, property, Property Registration, Real Estate India, Stamp duty, Tips
Posted in Apartment Buying | 1 Comment »
Saturday, June 13th, 2009
Union Finance minister exhorted public sector banks to cut down interest rate for home loan, retail loans and industrial lending to boost the economy.
If public sector cut interest rate, loans and industrial lending may become cheaper. SBI chairman after meeting with government told the news and media that bank would take decision on government suggestion by the end of the month. If SBI country’s largest bank takes step to reduce other public sector banks will also follow suit. Canara bank and Corporation bank echoed the statement of finance minister.
Current loan rate for home loan range from 8 to 9 percent up to Rs 20lakhs, Loan rate for car loan range from 10 to 11.5 percent and public sector charge 12 to 13 percent on industrial borrowing. Bank charges lesser interest rate depending on borrowers’ credit worthiness.
Prime Lending Rate (PLR) stands in the range of 12 to 13.25%. If bank brings down the rate by 50 basis points, lending rate of all sort of borrowing will come down by 0.5%.The second largest PSU, PNB however said the current rate they offer is lowest in the market. Analyst feel there is space for commercial banks to reduce the lending rates in the range of 50 and 75 basis points.
If the banks cut down their interest rate, home loan and retail loans will become cheaper. Analyst says bank will soften lending rate further, resulting cheaper loans and industrial lending.
Links to Refer
www.deccanherald.com
www.thehindubusinessline.com
Tags: Apartment, Apartment India, Bangalore, Home loan insurance, Home Loans, Housing India, indian real estate, market trend, property, Real Estate India, recession, Tips
Posted in Loan | No Comments »
Friday, June 5th, 2009
Green building is not only environmental friendly but also offers you lower rate on your home loan. Home buyers are very happy with cut down in stamp duty, rate of interest and now here is another reason. Banks such as State Bank of India are offering lower loan rate for green building.
There is an increase in demand for green building and SBI encourage this by attracting buyers with special rate for green building. Normally SBI charges 8 to 9.25% for normal home loan and rate is 0.10% or 10 basis points lesser for green building comparing to other.
According to Indian Green Building Council (IGBC), green building is construction that consumes less energy, water and natural resources. When comparing to ordinary building, green building consumes less energy, creates less waste and healthy for people and environment. Indian Green Building Council (IGBC) is a part of CII-Godrej Green Business Centre, which is actively involved in promoting the Green Building movement in India. It is represented by all stakeholders of construction industry.
In future more banks will come with innovative ideas to save environment and directly or indirectly encourage buyers to construct green building. Celebration of environmental day and conducting awareness program has played vital role in educating common man on need and importance of green living or environmental friendly life.
Tags: Apartment India, Bangalore, green building, Home Loans, indian real estate, market trend, property, Tips
Posted in Loan | 2 Comments »
Friday, April 10th, 2009
Apartment buying is not only meeting an immediate requirement but also investing for a better future for your family. You need to plan and select best apartment which suits all your needs. While buying an apartment you need to take care of following things:
1. Area where you want to buy.
2. Builder Information
3. Apartment Specification: Size of apartment, Built-up area, Amenities, Cost, Premiums.
4. Legal Information about the project.
Tags: Apartment, Bangalore, Buying, Legal Info, Tips
Posted in Apartment Buying | 1 Comment »
