Month: January 2017

Keep PAN, Aadhaar Helpful For Bullion And Jewellery Buys Above Rs 50K Post Budget 2017 !

Whenever you visit your neighborhood gold or silver gems store you may need to cite your PAN or Aadhaar card number for buys above Rs 50,000-1 lakh.Right now, just buys above Rs 2 lakh require know-your-client consistence in the gold market.Sanctioned bookkeeper Bhargav Vaidya, who gives consultancy administrations to the pearls and adornments area, and the secretary of one of the nation’s biggest bullion affiliation, expects the KYC prerequisites for bullion and gems to be modified lower from the present Rs 2 lakh in Budget FY18, to be exhibited on Wednesday.

“I think the KYC (consistence) will be sliced to Rs 50,000 from Rs 2 lakh at present in the Budget for FY18,” said Vaidya, proprietor of BN Vaidya and Associates. Aside from the exchange, budgetary controllers take input while drafting strategy for gold exchange from Vaidya.

Any such move would come in the midst of the administration’s crackdown against dark cash hoarders. Post demonetisation, substances holding unaccounted riches as rejected Rs 500 and Rs 1,000 notes changed over these to a great extent into gems, bullion and land.

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On the off chance that Vaidya’s hunch demonstrates right, clients purchasing gold, silver or bars of either metal would need to cite their PAN or Aadhaar number, or even give Kisan Credit Card in rustic ranges, for buys over Rs 50,000

Passing by Monday’s intraday gold rate of Rs 28,674 for each 10 gm that sum purchases only 17 gm of gold. Goldsmiths, leaning toward obscurity, feel the administration’s measure could be incited by specific constituents in the exchange giving it an awful name by offering gold and in lesser cases silver in return for old Rs 500 and Rs 1000 notes post demonetisation.

Administrative organizations like wage duty, Enforcement Directorate and the branch of income insight have been caught up with studying bullion merchants and diamond setters the nation over to make sense of how gigantic deals occurred on and instantly after the demonetisation declaration.

“My figure is KYC necessity would be reexamined for buys above .1 lakh in the up and coming Budget,” said Surendra Mehta, national secretary of India Bullion and Jewelers Association (IBJA).

By LNN (Liyans News Network)

Real Estate is All About Buying and Selling and Sometimes Vice Versa

Like any other business deal real estate business runs by continuous buying and selling. In real estate business you can buy/sell properties in personal or you might take any advanced help like going to a realtor or listing property under property portal. Either buying or selling properties you will have to stick to your property buying/selling decision which will bring your biggest investment the most successful one.For real estate buying and selling business you need to have a professional knowledge of the latest market trend and buyers’ investment sentiment.

For instance– To buy properties in Rajarhat you will definitely look around the same ranged properties with better offerings, similarly in case you are a developer and have on hand flats in Rajarhat area before listing your property you should have a clear conception of same ranged properties of the same area. Here are the other aspects on which a real estate investment of buying and selling could be actually beneficial for you-

Hiring an expert– For any professional real estate investor buying/selling commercial/residential properties is not the same as it’s for the regular homebuyers. They have a better knowledge of the financial market as they are professionally practiced with the same process several times as a part of their business. Any kind of property purchase is a huge investment of sum, no matter if you are going to use it for your own or use it as a money-making tool. Thus we suggest, for buying/selling property a professional realtor’s help is the primary need.

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Asses the market before investment– Before putting your savings at risk with a home-loan bearing, assess well if the property is really worth of, as it will block fat down payments for long run. Have a thorough look at the future valuation of the property based on local area, neighborhood and infrastructure nearby, so that in case you will have to sell the property it will get you a healthy return than your investment. For commercial real estate investment this assessment is a must need as these aspects have major roles in your business development. But sometimes property price get a downfall with the times. Thus predicting future market is a little tricky task in itself.

Be practical when it comes to sell– Again knowing the market situation has solid influence in selling your property. Rather than quoting any abrupt amount have a check at the area based resale values. It’s always important to have an item which would interest buyers. Only area based comparative price won’t earn any favor for you without having an enticing property. Thus, being attractive with your proposition is necessary in this field.
Listing with property portals– Mostly property sellers are now seen listing their properties under reputed property portals for selling. To save the marketing cost of a real estate agent this is undoubtedly a cleaver move. But here also use recent and original picture of your property, highlighting the specialty of your property, and you should have a knowledge of texture of the resale market as well.

-By LNN (Liyans News Network)

Govt. Should Fiddle With Infrastructure Status To Economical Housing Development

Residential apartments that are supported the program Pradhan Mantri Aawas Yojana, is likely to have concession on home-loan interest according to the latest announcement of PM Modi. This is a time for the potential buyers to do cartwheels who have avowed their decision to invest in low budget flats in Kolkata. According to the recent report central govt. will calibrate the classification of infrastructure segment in their imminent LIG or affordable housing apartment. Experts say that this is supposed to be a significant move that would scale down the cost for the developers and engage investors as well towards these types of developments in specific.

Speaking about this Pradhan Mantri Aawas Yojana PM Narendra Modi announced special consideration on interest rates for low-cost housing loans under the aforementioned program. “If we want housing for all by 2020, re-categorizing affordable housing as infrastructure is essential. The government had sought feedback about this about a week ago,” a person who is a potential buyer of the development said. He also added, “I see this happening in the upcoming budget.”
HUPA has been seen pushing PM’s dream housing project of providing about 20 million houses across the country within 2020. IT has got across to the officials of senior finance ministry and the Reserve Bank of India as well for feedback on the projected modification and how to stop it from being mistreated. “These projects could have a dollar-denominated debt and offer a return of 4-5%. This would work well for both domestic developers as well as foreign investors,” an expert said.

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Our Outlook– Infrastructural status for low-budget housing is a skillful concept. Resource allocation will have a boost with the execution. It will hike the supply chain against the backlog. This huge project needs to have a policy agenda on an obvious ground, which will help to turn the project approval and deliverance into a fair and transparent deal. In the developed market real estate brings in half of the GDP. Again the moderation in home-loan interest and tax-rebate will be backing the demand quotient to rev up.

At the same point of time builders and developers have been going through a harsh time ever since the announcement of currency ban as they are having some obtained huge amount of loan from the financial market earlier on a higher level of interest. On the other hand banks and other financial companies are now indisposed to lend money to them after the 500 and 1000 rupee note ban declaration.

“If affordable housing is given infrastructure status, it would lower the borrowing cost for the developers. Also, regulations should be simplified to directly borrow foreign debt, which can cost around 4-5% on dollar return,” said Hemal Mehta, a partner at Deloitte Haskins & Sells.
Set of laws will have to be altered so that low-cost housing projects do not attract unhelpful taxes but easier project investment even from investors outside India. An investment from foreign pension funds and insurance companies in this low-budget segment is foreseen by the experts.

_ LNN( Liyans News Network)

States Have No Energy to Weaken Real Estate Act, May Confront Open Objection: Venkaiah Naidu

NEW DELHI: Coming down vigorously on the states that have weakened the land administrative Act, Union minister M Venkaiah Naidu on Tuesday said states have no energy to weaken the arrangements and this will have genuine ramifications including open objection.

Image and video hosting by TinyPicThe clergyman of Housing and Urban Poverty Alleviation (HUPA) likewise encouraged the states and Union Territories to meet people’s high expectations and execute the Real Estate (Regulation and Development) Act, 2016 from May 1 this year.

“There are a few media reports that a few states have weakened a few arrangements of the Act in the standards advised by them (HUPA). States don’t have such powers and I trust such reports are not valid,” Naidu said while tending to a meeting of boss secretaries and senior authorities of states and union regions here.

“Today, I need to make it clear that any trade off with the soul of the Act will have genuine ramifications including open objection. Whoever does as such should confront general society clamor,” he included.

On the vagueness about progressing ventures, Nandita Chatterjee, secretary, service of HUPA, cleared up that all the continuous undertakings that have not gotten culmination endorsements till May 1, 2017 would go under the domain of the land Act.

Abhay Upadhyay, convener of home purchasers’ gathering Fight for RERA, feels it was important to elucidate to states that they can’t weaken Real Estate Rules for developers. “We now trust, states will now outline stringent RERA principles and all weakenings for manufacturers done by many states will be denied,” he said.

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The service of HUPA made it clear that no revisions to the Act would be considered at this stage. On states’ requested to unwind the base plot size of 500 square meter proposed in the Act for enrollment of tasks with administrative experts, Chatterjee elucidated that the base plot size of 500 sqm was touched base at after a few rounds of exchanges by the Parliamentary Committees and in the Parliament and it can’t be modified at this point.

States additionally raised the issue of barring overhangs from the meaning of cover zone, to which the service clarified that it represented no issues as costing could be as needs be educated to the purchasers.

The service likewise asked the states to shape interval administrative experts, as proposed in the Act, to set up vital institutional instruments with the goal that undeniable administrative specialists could get to be distinctly utilitarian from May 1 this year.

In this way, states like Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh, Delhi, Chandigarh, Andaman and Nicobar Islands, Dadra and Nager Haveli, Daman and Diu and Lakshadweep have told the land rules.

In any case, states, for example, ​Andhra Pradesh, Arunachal Pradesh, Chattisgarh, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Mizoram, Rajasthan, Tamil Nadu and Puducherry said they would tell the land runs in February.

Punjab and Uttarakhand, in any case, said they would tell the principles after the state get together decisions.

–LNN( Liyans News Network)

DLF Might Come Under CCI’s “Cease And Desist’

Competition has been always there in realty business. But once again DLF has caused some distress in their business practices which seems against the regulation; for CCI again has directed DLF to “cease and desist” from arbitrary business practices. The recent order has come after a comprehensive investigation on accusations that DLF gives rein to anti-competitive practices with regard to some projects in Haryana and Gurgaon.
DLF Ltd. is a page-oner in colonization and real estate business. The company is mainly known for its advanced commercial real estate development across the country. Now the big-gun has been already imposed a penalty by Competition Commission of India (CCI), thus the commission is unable to further penalize the organization (dated Jan 4, 2017).
CCI finds DLF indulging in the conduct which is proved to be unfair and offensive in terms of the provisions of Section 4 of the “cease and desist’’ act. Section 4 of the Competition Act refers to abuse of dominant position. However, DLF group holds a dominant position in the current and competitive market; we will have to watch how this penalization affects their business practice. ‘Provision of services for development/ sale of residential apartments in Gurgaon‘ was contemplated as the relevant market.
This is not the first time the company is facing such kind allegations, in previous several occasions the company was directed not to foster unethical business proceedings. Now CCI again pointed at DLF Gurgaon Home Developers Pvt. Ltd and asked them to take heed of their unfair trade ways but didn’t compel any additional penalty charges. This time the charge against the company is to foisting highly uninformed and unscrupulous conditions on property buyers at a project in Gurgaon. Also the allegation was doing rounds of company’s abusive act towards the civic bodies and existing buyers. Two individual complains were launched in 2014 and 2016 were alliance by the regulator, which required a detailed investigation ordered by the Director General (DG).
Image and video hosting by TinyPicThe order discloses, “The Commission is of the view that since a penalty of Rs 630 crore has already been imposed on the Opposite Party Group (DLF) in the Belaire’s case for the same time period to which the present cases belong, no financial penalty… is required to be imposed.”
In the year 2011 DLF was penalized a fine of Rs. 630 crore after founding infringement of completion regulations following by a protest by Belaire Owners’ Association in Gurgaon. The penalty has been confronted by the company. The recent allegation of abuse of dominance including obligatory purchase of the parking lot and one-sided agreement went in the favor of DLF.
Quoting the DG’s report, the regulator said “there is no doubt that the strength which the OP (opposite party) Group possesses in residential real estate segment in the geographic region of Gurgaon is incomparable”.
Asking about this conclusion CCI said, “The assessment done by the Commission in the previous orders would also apply in the present matters since the issues, the relevant period and the opposite parties involved are the same.’’ It also added, “The Commission is of the view that the terms and conditions imposed on the allotters in the instant matters as analyzed by the DG in detail are abusive in nature.’’

Home buyers who are keen on investing in affordable flats in Kolkata visit our online portal for wide ranged listed and verified properties or you reach up to us with any kind of property requirement and co-related queries.

By LNN (Liyans News Network)