Regulation

Tax Deducted at Source (TDS) is an important aspect of real estate transactions in India. Section 194IA of the Income Tax Act, 1961, mandates buyers to deduct TDS when purchasing a property above a certain value threshold. Understanding the applicability, calculation, and compliance requirements of TDS ensures smooth property transactions while avoiding legal complications. This guide provides a...

When buying or selling property in India, two key terms frequently come into play: Circle Rate and Market Rate. Understanding the difference between these two is crucial for making informed decisions, avoiding legal complications, and ensuring compliance with taxation laws. This comprehensive guide explores the definitions, differences, implications, and importance of circle rate and market rate in the...

A RERA escrow account is a specialized bank account mandated by the Real Estate (Regulation and Development) Act, 2016 (RERA) in India. Its primary purpose is to ensure that funds collected from homebuyers are used exclusively for the construction and development of the specific real estate project for which they were intended, thereby safeguarding the interests of buyers and promoting transparency in the...

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a key regulation that mandates the inclusion of real estate agents' fees, including commissions and brokerage charges, in the model property sale agreement. This regulation results from consultations between MahaRERA and the National Association of Realtors (NAR)-India. Their partnership reflects a push for a professionalized and...

The Noida Authority has introduced groundbreaking registration rules aimed at safeguarding homebuyers and enhancing transparency in property transactions. A tripartite "sale agreement" is now mandatory between the buyer, builder, and Noida Authority, solidified at the initial 10% deposit stage. This directive shifts the registration process from the end of the development cycle to the beginning, marking a...

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has consistently taken steps to protect homebuyers and ensure greater transparency in real estate transactions. In recent times, the authority has enacted several new regulations aimed at curbing fraudulent practices and ensuring that homebuyers receive the rights and services promised to them. Below, we discuss these pivotal developments and...

The introduction of Goods and Services Tax (GST) in India has significantly streamlined the taxation process for the real estate sector, impacting both residential and commercial properties. The GST framework offers a more unified approach by replacing the multiple taxes that existed previously, including VAT, service tax, and various other levies. This article delves deeply into the various aspects of...

The Indian real estate sector, long known for its complexities and challenges, has undergone a significant transformation with the enactment of the Real Estate (Regulation and Development) Act, 2016 (RERA). This legislation was introduced to enhance transparency, accountability, and efficiency in the real estate industry. Below, we delve into the profound benefits RERA offers to property buyers, ensuring...

In a significant policy shift, the Government of India has proposed an amendment to the Finance Bill concerning the indexation benefits on real estate. This change is poised to provide relief to property owners by allowing them the option to choose between the new and old tax regimes for long-term capital gains (LTCG) on property purchases made before July 23, 2024. Understanding Indexation and its...

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has implemented a significant policy shift by mandating training and certification for real estate agents. This initiative aims to enhance the professionalism and knowledge of agents, ensuring better service for consumers and a more transparent real estate market. Objectives of the Training Program Enhancing Professionalism UP RERA's...