Tag Archives: housing complex

Property transaction in post office

From next month, property buyers can pay their registration fee and stamp duty in near by post office. Karnataka Stamps and Registration Department is considering to launch the facility in post office and public sector banks across the state for property registrations. On a pilot basis, the department is planning to launch the facility in 75 post offices in Bangalore by next month.

A public sector undertaking, Stock Holding Corporation of India Limited (SHCIL) would be in charge of keeping a centralized record of all e-stamping documents. The department in association with SHCIL, is implementing e-stamping to put an end to illegal benami registrations and for plugging revenue leaks.

The postal department wants to charge Rs 10 as fee from for e-stamping denominations up to Rs 100, and Rs 15 for e-stamping denominations above Rs 100. The post offices have expressed interest and are waiting for a final approval.



Not paying your property tax can land you behind bars

According to MCD, only nine lakh people pay property tax, while according to its estimate, there are more than 30 lakh properties in the city. The Municipal Corporation of Delhi (MCD) has launched an amnesty scheme. The amnesty scheme will be open from Tuesday to October 31.

The Municipal Corporation of Delhi (MCD) has launched an amnesty scheme under which tax defaulters can clear their dues without having to pay a penalty or the interest amount. But those who fail to pay the tax by October will not only face penalties like sealing of bank accounts and attachment of property but may also be jailed for a period of seven years.

Under the scheme, all the property tax payers in the city will get a special identification number similar to Permanent Account Number from the civic agency. In future, the facility will be extended to other property owners too.The agency said that in future, property owners who submit pay the tax will get benefit in getting the building plan sanctioned.

The 30% penalty will be waived off for those paying property tax dues
before October 31. In addition to this, 1% interest levied every month on unpaid amount will not be charged from them. For the scheme, the civic agency has constituted special teams in all the 12 zones and the property tax headquarter at Lajpat Nagar.

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.

Integrated Housing Complex for Industrial workers

Haryana State Industrial and Infrastructure Development Corporation Ltd (HSIIDC) gave go ahead for the development of integrated housing complex for industrial workers. The scheme to be funded under Economic Stimulus Package announced in the budget 2009-10 by the state government.

The scheme is announced for housing for industrial workers at IMT Rohtak, IMT Faridabad, Kundli, Rai and Barhi. The state government will allot Rs 30 crore in three equal installments of Rs 10 crore each. HSIIDC reports, the draft project report of the project is under finalization. The first installment for the project will be released immediately to the corporation. The project would be completed in 18 months.

The industrial estates with entrepreneurs either of fully operational or in production industrial projects would be eligible for this scheme. If there is application exceeding the number of dwelling units, allotment will done on draw of lots. Under the industrial housing scheme, dormitory units having covered area of 114.30 sq mtrs and dwelling units covering 29.14 sq mtrs would be constructed. The dormitory units would be allotted as one unit for 12 persons to the existing industrial units. An industrial unit could apply for a maximum of four dormitory units. Individual dwelling units would also be allotted to the existing unit in the industrial estate.

The allotment would be made on a deferred payment scheme wherein the applicant would pay ten per cent with the application, 15 per cent after allotment and balance 75 per cent in five equated half-yearly installments carrying nominal interest. The application exceeding the number of dwelling units, allotment will be done on draw of lots.