Value of FSI and TDR not to be included in land value under Section 50C of Income Tax Act Transfers of immovable property are required to take place at a fair valuation as per Indian tax laws. In a judgment that could have significant consequences for the real estate sector, the Mumbai Bench of the Income...

12 T.P Scheme (Town Planning Scheme) of Surat got approval by Gujarat Government

This is a very good news for the people of Surat and specially for project developers and builders. Suda and SMC had sent various T.P Schemes of Surat long time back for approval to Gujarat Government and suddenly 12 of them got final approval from Gujarat Government. T.P Schemes are made so the the...

Surat Jantri to be revised every 6 months now

The Jantri rates were constant for long period of time. But now the Government will change the Jantri Rates every 6 months. This will help to reduce the black money transactions also. Just 5 years back a bunglow worth say Rs. 1 Crore would be evaluated at a price of hardly 10 Lac Rupees. Thus the Jantri Tax...

Developers in Surat can have major problems if the Real Estate Bill is passed

It’s some good news for the property buyers and investors. The real estate bill has been sent to the law ministry which if cleared will increase the transparency and keep up the builders quite on their toes. As per the final sketch real estate bill that makes it compulsory for developers to disclose key...

80% Commercial properties wrongly estimated for stamp duty by SMC

SMC may conduct an assessment drive for the properties all over again because according to vigilance staff after their second random survey, 80 per cent of them have been wrongly assessed out of 1.75 lakh commercial properties registered. This has resulted in a huge revenue loss to the SMC. The first random...

The right time to buy property in Surat is December 2011?

As per the latest information, most of the pending files for new projects have been approved. A total of 100 plus projects got approval in this week.   The builders of Surat had a huge waiting time for their project approval from the Surat Municipality in the last year. Thus the number of projects...