The crunch in the real estate sector has intensified, as the Income Tax Department is all set to an excise tax on unsold apartments, which have been vacant for more than 1 year. Developers may have to pay a tax equivalent to 30% of the rental value, assuming that the apartment or apartments in question … Continue reading “Tax against unsold Inventories may initiate Realtors to Protest”

Recently, as per a property report number of unsold housing units lapsed to 6.85 Lakh across 7 cities. The national capital region (Delhi-NCR) has the maximum number of untaken units at 2 lakh, although the number has declined by 12,000 units from the September quarter of 2016. Greater Noida has maximum share of unsold inventory, … Continue reading “Number of unsold housing units lapsed to 6.85 Lakh across 7 cities”