Month: August 2017

how you can own multiple homes with tax benefits!

how you can own multiple homes with tax benefits!

You must’ve always thought that it’s probably going to be a pain if you own multiple houses- the taxes, the amount of investment done, etc. So so hectic. But, guess what? It’s got its perks as well- enjoy tax benefits on the interest you pay on the loan for multiple houses!

Please correct yourself with regard to the tax issues when it comes to owning multiple, can you? You can own more than 1 house, however, you definitely cannot take more than 1 home loan each time. We live in a democratic country- we’re all free to own multiple properties, houses, etc. Also, you can claim tax benefits too! However, please keep in mind your income, savings etc.- depending upon your salary only will your loan be approved!

Tax benefits on the payment of interest

You are allowed to claim a deduction for interest payable on your loan, which has been taken for construction, purchase, renovation etc. of any of your properties under Section 24b. Just in case, you still want to enjoy this park, but, won’t be able to enjoy at your fullest, there can be a maximum deduction of 2 lakh only PA.

However, just in case, you have borrowed the amount post-April 1, 1999, and the construction has still not gotten over, the claim shall be restricted to only Rs. 30,000.

In certain cases, you may also have let out one of your properties owned by you- you have the liberty to claim deduction for the entire interest paid, without any upper ceiling against the rent received with respect to your property. In cases like this, you own 1+ properties and more than a single house is occupied by you – pick out one of your properties as self- occupied and the rest are taken into consideration as notional rental income, based upon the rent that is fetched from the property must be offered for taxation. Post this, you can claim your tax benefits for full interest paid, for the money borrowed with regard to this property is treated as let- out!

Check Out Champions Square  - Apartments in Sarjapur Road 

This perk is available for any commercial as well as residential properties which are/ is owned by you. Even if, you’ve borrowed money from the bank or, a housing company or, from friends as relatives, it’s still applicable for you!

If you pay any interest rates during the construction period, you can claim for 5 equal installments, beginning from the year of the construction beginning till the completion of it.

Tax benefits on repayment of the principal

As per Section 80C, you’re allowed to claim upto 1.5 Lakh only for the repayment of your housing loan which has been loaned out from specific institutions, inclusive of stamp duty of housing loan, cost of registration etc. The overall amount of deduction consists of items like PF contribution, tuition fees, ELSS etc.

This claim is valid only when you possess the property. If you’ve successfully started repaying the principal amount, this exemption is open for you. If you’re taking loans from friends, family, etc., you ain’t eligible for this tax benefit.

Effect of GST on Real Estate Buyers and the Industry

Effect of GST on Real Estate Buyers and the Industry

GST or, Goods and Service Tax bill had been approved in the Lok Sabha in the month of March 2017 with 4 supplementary Legislations- The Central GST Bill, The Integrated GST Bill, The GST (Compensation to States) Bill, and The Union Territory GST Bill.

Jaitley, the Finance Minister of India, made a very relevant statement, “Today, you have a tax on tax, you have cascading effect. When all of that is removed, goods will become slightly cheaper,”

What’s the intent behind GST anyway?

In simple words, it’s for the uniformity in the market. GST is supposed to boost GDP by about 2% and check tax sales evasion.

What’s your take on GST- does it leave a positive impact on us?

Well, to be honest, as tax payers, this is a huge profit for you! Instead of paying multiple taxes like VAT, octroi etc., you’re paying all of it in one, reducing the overall cost. However, as customers, you’re paying the amount which is not-so-positive.

Impact of GST on the real estate industry

This is one of the most complex industries and guess what, the GST is at the rate of 12% with ITC. According to reports, VAT for a few states like Karnataka has changed from 10-11 to 12%, all thanks to the new regime.

Abhishek Anand, the Assistant Vice President of Equity Research says, “In the GST regime, the transaction cost increases to 12%, with input credit available on both, services and material. Property transaction costs will increase by 6%, in case no input credit is passed on by developers. If developers pass on the input credit to buyers, the property price increase could be restricted to 1-2%.”

Nevertheless, the stamp duty shall continue to be applicable, irrespective of the condition of the property- under-construction or constructed, in the pre-GST and post-GST regime.

Will GST help you, the buyers?

Studies say that the impact of GST on property prices shall be difficult to gauge because this idea is so unclear to all. It’s like, learning from abstract to concrete and shall take not just time but, a lot of experimentation and experiences to understand and analyze the results of GST in India.

Keep a few points in mind:

Affordable homes may become furthermore cheaper under the GST regime because GST exemption can be exempted when it comes to affordable housing!

When it comes to luxury houses, GST is limited to 12% only!

With regard ti construction materials, GST shall vary from 18-28% per slab.

What about GST on Ready- Made Properties?

Here’s a fact for you- whether you opt for an under- construction property or, a ready to move- in one, the developer shall definitely hike the prices in a proportion such that, the gap is bridged. Guess what, the burden of paying taxes with regard to ready-to-move-in apartments is saved. How? Well, you have to pay tax for so many things like the cement, steel, etc. with such high taxes on each. Whereas, when it comes to ready- made houses, it’s as less as 12% only!

Live healthy, live beautiful and be care- free about the idea of GST!

Why should Sarjapur road be your top choice to buy apartment!

Why should Sarjapur road be your top choice to buy apartment!

Until the 21st century emerged, Sarjapur road was a tiny village which was located on the outskirts of the today IT hub of India, Bangalore. Back then the population of Sarjapur road was just 150 people and now, it’s got people in thousands or, maybe more!

Sarjapur is now the property- market area with 1/2/3 BHK apartments going off on the roll!

Living in Sarjapur road:

  • Sarjapur road is recognized as one of the most affordable cities in Bangalore and Bangalore’s fastest developing area as well!
  • Multiple builders have built complexes, top- notch apartments in this area to cater to the IT companies here like Wipro, Intel etc.
  • Fairly easy to find an apartment for sale in Sarjapur road as it’s still developing and not many people know about its fast development.
  • The new hub of real estate investment because of the kinds of complexes designed here- luxury, top- notch with multiple amenities in and around the area.
  • Comfortable living spaces, low crime rates, 24*7 water, and electricity supply!

Healthcare:

  • Bangalore has not forgotten your health- check out the multiple hospitals available in Sarjapur road!
  • Enjoy prime healthcare facilities in hospitals like Motherhood Hospital, Doctor Levine Memorial Hospital and so on.
  • Multi- specialty hospitals like Apollo, St. John’s Medical College and Hospital, Punarjani Ayurveda Multi- Specialty Hospital etc.

Education:

  • Kids have to grow in good environments- send them to the best of schools in this area without worrying about issues like transportation, dust on the way and so on.
  • For the tiny ones, check out Little Champs Preschool & Daycare, Bachpan, Vidyarambh International Preschool & Childcare Centers and so many more!
  • Older children can go for Harvest International School, GEAR Innovative International School- the best of all!
  • Also, a study in awesome colleges like ALT Training College, Bangalore Technological Institute, St. John’s Medical College and so much more!

Things to do:

You think that Sarjapur is the boring area with no life? Well, you’re wrong- it’s got dining areas, nightlife, theaters- everything you’ve always wanted to check out!

Visit places like Kickshack, Timepass Dinner, T- Square etc. and have wonderful times with your families, friends, everyone!

You can also visit places from Sarjapur road as it’s closer to home, to Sarjapur road- visit Nandi hills, Kanakpura, Mandya, Yelagiri, Mysore, etc.- all are worth your time and a must- check out!

Ease of Access: All thanks to Sarjapur’s location, it’s extremely convenient to reach out to not just areas like Koramangala but, locations like the Kempegowda International Airport, Byappanahalli and so on which are just an hour or so away!

Live in the all-in-one area- live in Sarjapur road!

5 ways to style-up your apartment this year!

5 ways to style-up your apartment this year!

Here’s the thing- from the past 10 years or, over a decade, Bangalore has been on the rise- it’s shooting up, leading to misbalance in the control of traffic all around the city. It’s okay to have vehicles running on the roads all throughout the day and night but, it’s just so frustrating and sweaty!

However, Sarjapur road is one of those areas in Bangalore which has been one of the most demanding areas in Bangalore- both, on the commercial and residential levels. Best part- nobody really cares about the traffic issues in and around this area while making purchases of apartments for sale in Sarjapur road.

These skyrocketing costs in Sarjapur road are due to multiple- reasons, know why:

1. MNCs and IT hubs– Did you know, there are so many IT companies situated in Sarjapur road- be it Wipro, Intel or, any other company, Sarjapur has it all! Hate traveling? So, shift to one of the 1/2/3 BHK apartments for sale in Sarjapur road to escape the pain of traveling and reaching office on time in spite of leaving just 5 minutes prior to your login time.

2. Sufficient infrastructure– There are several numbers of properties in and around Sarjapur road which are full of residents, employees, etc. Expand your company, come etc. right here, in Sarjapur road. Reason being, this area is the right destination for working- class bachelors work here and establish here with utmost comfort!

3. Transport hub– All modes of transportation are available to reach Sarjapur road very smoothly- be it Airport buses or, cabs or, any other mode, it’s all open here. Multiple buses come to this area at multiple points each day, taking back people to multiple areas- that’s the dynamism of this area!

4. Social infrastructure– The social infrastructure is great here with a number of tourist spots, public attractions nearby like malls, restaurants, pubs, parks etc.

5. Availability of Land– One wonderful thing about this area is its availability of land. It’s not that it’s unlimited but, it’s a great area to settle down in as it’s just 22 minutes away from areas like Koramangala, has so much around it and so on. The property here is sold like hot cakes which is definitely worth it!

Other than these wonderful reasons, other reasons behind switching to Sarjapur road is that the rest of the city’s property rates have shot up and it’s over- crowded 24*7 there. More importantly, this area is meant not just for business but, residence too- therefore, all in one!

Not Just Any Apartment; You Deserve it Fully Decked Up

Not Just Any Apartment; You Deserve it Fully Decked Up

The cityscape of Bangalore is currently peppered with high-end housing projects. The IT boom that brought millions into the city offered the professionals a major lifestyle upgrade. The real estate industry sprang up from the passing thrust of that employment spur that started around 2006 and is still on the roll.

The city presently hosts a phenomenally huge mass of residents. Many of them own a property or more. If you find yourself surfing through the listings of properties in Bangalore, then adjust your focus to apartments.

The topmost projects in the city offer a quality of living that hardly has a match. If a larger-than-life living is what you expect out of your investment, then look to buy properties that offer a host of advanced features.

Let’s take a look at what amenities you can expect from a top-notch apartment in Bangalore.
Health Club

Immersed in dormant lifestyles and stationary job roles, an active lifestyle in the after hours is a necessity

A health club is one of the key features of a top-class apartment. In a city like Bangalore where most of the residents are employed in desk jobs, keeping an active lifestyle in the after-hours is a necessity. So, having a health club in the apartment encourages that. The health club is more than a lounge area where you can hang out and get to know your neighbors better and share health tips. It’s a full arena that includes a gymnasium, a swimming pool, a yoga, and meditation corner, an aerobics hall and such. Most apartments have three out of four of the amenities mentioned, which is good too even if you don’t get all of them ticked.

Sports Arena

Indoor and outdoor facilities get equal prominence; great if you have an instructor around
For a sports arena, the more the merrier. The best residential projects in Bangalore reserve a large stretch of land inside the campus to dedicate to sports courts. Basketball courts, cricket pitches, skating tracks, etc., are usually a part of the arena. Oftentimes, the sports arena is divided into two parts, indoor and outdoor. In the indoor section, they have props for table tennis, badminton, and other such sports. The sports arena should support the practice of multiple kinds of sports so that everybody gets a chance at playing and practicing their own sports. You may not have a training instructor at hand, but it’s a great way to keep the practice up.

A Spa Salon
Rejuvenate, freshen up; your body deserves it

The best apartments have spa salons adjacent to their gymnasiums. After an hour of extensive exercise, a 10 minutes sauna bath proves to be extremely relaxing. There are some apartments that have a spa salon too in addition to a steam room and sauna space, where residents can walk in and get a spa therapy instantly. Because the salons are exclusively for the residents, they often do not require taking appointments weeks ahead of the day. Pretty much any day and any time of the week is good for a walk in. These places are staffed by experienced masseuses who are trained to render the service at its best.

An Amphitheatre

Away from your home town, you really need that community bonding

An amphitheater, open or close, is a great place to conduct a show within a community. It’s a pretty large gallery that offers seating for a large number of people and a stand at the center where bands, actors, elocution artists and others can perform. These amphitheaters are a great way to bring the community together in something recreational on special events.

Gardens

A breath of fresh air, a soothing shade of green, a little bird song and some gentle fragrance
A garden is another key feature of an apartment campus in Bangalore. In most big projects, there are several of these scattered around the grounds between buildings. These gardens can be a stretch of open space, or something that is aggrandized to look like a park or just a small resting bay by the water for the walkers. In some apartments, these small pockets of greens are designed to serve as meditation nooks.

Children’s Play Area

Kids need to work out and build their endurance; they need to bond with peers of various cultures

Most high-end condominiums have children’s play areas for the kids of the residing families. These parks are propped with all sorts of sports equipment like merry-go-rounds, see-saws, slides, swings, monkey bars, still rings and such. Children find these parks a great entertainment spot to hang out with their friends.