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.
SBI had reduced its Benchmark Prime Lending Rate by 75 points in January 1, 2009 and SBI had reduced deposit rate by 25 points across all maturities to bring down cost of funds. SBI cuts its BPLR rate by 50 basis points effective from June 29, 2009.
SBI rate cut comes within a fortnight of Finance Minister Pranab Mukherjee asking state-owned banks to soften rates. Other lenders will soon follow SBI and borrowers will get car loans, home loans and other loans for cheaper rate.
SBI has recently reduced its deposit rate by 25 points. The rate of deposit for 1000 days tenure was reduced from 7.75 to 7.50 per cent, for deposit 2 years or less than 1000 days the rate was cut from 7.50 to 7.25 per cent. The rate for deposit from 1 year to less than 2 years was reduced from 7.25 to 7 per cent and the deposit for tenure of 181 days and less than one year the rate is 6.25 against 6.50 per cent.
The new rate for BPLR will be 11.75 per cent against current rate of 12.25 per cent. This will be effective from June 29, 2009.
Deadline for property tax payers for filing property tax 2008-09 is on June 30. It is mandatory for all tax payers to pay property tax irrespective of whether or not they hold khata. Property Index Number (PID) can be known from BBMP website. If you have made mistake in calculating your property tax 2008-09, you can file your return now.
You can file your revised return at BBMP help center and get the acknowledgment of the same. BBMP tax calculator will enable you to calculate your property tax and interest payable for delayed payment. Second installment of property tax 2008-09 can be filed without fine or penalty up to June 30.
To avail the services from BBMP, tax payers have to make prompt payment and furnish the details of tax paid. Therefore ensure prompt payment to enjoy the benefit or services offered by BBMP to its citizen.
All help centers of BBMP will work from 9:30 Am to 12:30 Pm and 3:30 Pm to 7:00 Pm on all working days
Posted in Bangalore
Tagged apartment, Bangalore, bbmp, defaulters, June 30, market trend, property, property owners, property tax, property tax 2008-09, real estate
Ahmedabad Municipal Corporation (AMC) is building up to 20,000 houses for economically weaker sections (ECSs). The urban poor residing in slums and chawls will be soon moving to neat house. AMC is developing these houses at 29 locations in the city at an estimated cost of Rs 350 crore.
AMC is building up to 20,000 houses from loan of Rs 120 crore from Central bank of India. The project is a part of Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The project provides affordable homes for urban poor. AMC will build 32,640 homes which include Ahmedabad Urban Development Authority (AUDA) areas with facilities like drainage, water supply and other basic infrastructures.
Actual price for a house is around Rs 2.55 lakh which includes tender premium and price escalations. The beneficiary will have to pay only Rs 66,900 per house and one can pay Rs 20 to 30 per day for an EMI of 20 years. These houses are monolithic structures which don’t need walls to be plastered.
AMC houses at Rs 66,000 for urban poor