Monthly Archives: July 2009

Apartment Exchange Scheme for Senior Citizen

Chennai based L&T Arun Excello Realty(a joint venture between an L&T subsidiary and a local real estate group)has offered an apartment exchange scheme exclusively to senior citizens. For them, the builder has reserved the ground and first floors of Estancia, an integrated township being promoted 18 km from the Chennai airport on the Madurai route. They have also tied up with international realty consultant Jones Lang LaSalle Meghraj (JLLM) to guide elderly customers through the nitty-gritty of the transaction, including evaluating the worth of their old apartments.

Senior citizens quite often feel out of place in the din of city life. They would have put up with hardships for decades, for the sake of their children’s education. In retired life, instead of living alone, feeling insecure and coping with daily challenges in managing the household, they were invited to gated community that provides a secure environment. They will not be neglected or left alone, but will form part of a community, including children. Elder-friendly amenities or features such as anti-skid flooring, ramp, stretcher lifts and grab bars in toilets would form part of the project.

Since senior citizens are not eligible for home loans to buy a dream house, they often have to liquidate other assets. Hence exchange scheme can be best utilized by them. If people want to sell their flats directly to end customers, JLLM will guide them through the process.

For more details refer:

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Chennai based L&T Arun Excello Realty(a joint venture between an L&T subsidiary and a local real estate group)has offered an apartment exchange scheme exclusively to senior citizens. For them, the builder has reserved the ground and first floors of Estancia, an integrated township being promoted 18 km from the Chennai airport on the Madurai route. They have also tied up with international realty consultant Jones Lang LaSalle Meghraj (JLLM) to guide elderly customers through the nitty-gritty of the transaction, including evaluating the worth of their old apartments.

Senior citizens quite often feel out of place in the din of city life. They would have put up with hardships for decades, for the sake of their children’s education. In retired life, instead of living alone, feeling insecure and coping with daily challenges in managing the household, we invite them to our gated community that provides a secure environment. They will not be neglected or left alone, but will form part of a community, including children.

Since senior citizens are not eligible for home loans to buy a dream house, they often have to liquidate other assets. Hence exchange scheme can be best utilized by them. If people want to sell their flats directly to end customers, JLLM will guide them through the process.

Surcharge on Stamp Duty Proposed By State Government of Tamil Nadu

For generating revenue for local bodies and source funds for urban road infrastructure projects, the state government proposed a surcharge on stamp duty. Property transaction will get costlier in limits of Chennai Corporation, municipal and town panchayat.

A bill “The Tamil Nadu Duty on Transfers of Property (in Municipal Areas) Bill, 2009” was introduced by deputy chief minister M K Stalin in the Assembly. According to the bill, the surcharge would not exceed 5% of the stamp duty. The buyers on purchase of Rs 30 lakh apartment would get a surcharge that would work out to Rs 12,000.

Final Notification of 198 wards issued by BBMP-Bangalore

Final notification on BBMP wards issued

The number of wards in the final notification remains the same as in the draft, and the number of wards whose names have changed are over 45. The number of wards in which the areas have either been included or excluded are over 30. The draft notification, issued by the Urban Development Department on June 17, was subject to suggestions and recommendations before June 30. After looking into over 1,500 suggestions, the Urban Development Department finalised the delimitation.

Contact PMC for property tax bill 2009-10

Pune Municipal Corporation (PMC) has received complaints from citizen on not receiving the property tax bill for 2009-10. PMC has told citizen of Pune who have not received the property tax bill for 2009-10 to approach PMC and write a letter mentioning their present address to deputy commissioner/ tax department chief, PMC building, Shivajinagar – 411005.

PMC has launched a drive to reach maximum tax payers and collect property tax. The general body of the PMC has set a target of collecting Rs 511.11 crore for 2009-10. The PMC has recently assessed 918 new properties whose ARV (Annual Ratable Value) is Rs 1.99 crore. Citizen who have paid property tax and still received bill showing the dues should also contact deputy commissioner/ tax department chief on same address.

Form IV and Form V for filing property tax 2009-10

Tax payers can pay property tax 2009-10 from July 1 at respective help center. BBMP accepts property tax from payers in two different forms. Form IV is property owners who made no change to their property. The property owners who made change from previous return can file their property tax in form V.

Form is available at Citizen Help center. Form IV is available in white and Form V in Blue. The change in property can be extend of built-up area, usage, occupancy or category.

Tax payers paying DD or Pay order will be issued the receipt on the spot and tax payers paying property tax by cheque will get receipt of return only on realization of cheque. They can get acknowledgement for receipt of return. The property tax payers paying tax for whole year on or before July 30 will get tax rebate of 5 per cent. Last date for paying tax for whole year or first half-year without penalty will be on August 30.

Link To Refer:

File your property tax return 2009-10