The legal and tax aspects of home buying are frequently the most difficult to manage. This chapter will go over some of the most important issues that all home buyers face. The chapter includes a step-by-step guide to understanding the entire property registration process, as well as information on the various taxes associated with the home buying process.
Process of Property Registration
Property Registration is an important part of buying a home. Registration is probably the most complicated step in the whole process of buying a home. Even the smartest home buyers can get confused by all the rules and paperwork. So, it’s best to always get help from a good broker or real estate agent. You could also hire a lawyer to make sure that the process of registering your property goes smoothly and without any problems. READ MORE…
Property Taxes to be Paid While Buying it
In this section, we are going to discuss different property taxes to be paid while buying an under-construction property and ready-to-move-in property. Do you know what the laws say about investing in a property? After the Goods and Services Tax (GST) was put into place, the way taxes are paid when buying a home changed. All indirect taxes, such as VAT, Service Tax, and other indirect taxes, have been replaced by a single, unified tax system (GST) that applies to all properties in the country that are under construction. READ MORE…
All about GST
With the Real Estate (Regulation and Development) Act (RERA) 2016 and Housing for all, two major policy changes made by the central government, the Indian real estate market became more open and regulated this year. Goods and Services Tax (GST), the biggest change to taxes, made it harder to fix the market’s problems by getting rid of all the different taxes in the industry. READ MORE…
Important Certificates
If you own a flat in a high-rise building or have a booking for a flat that is still being built, you should know about the Completion Certificate, Commencement Certificate, and Occupancy Certificate. These are the important certificates that come with real estate transactions. Since these documents are not needed to register a property, many people who buy homes forget to get them from the previous owner or the builder. READ MORE…
Tax Benefits of Home Loan
Availing of a home loan for buying a house not only helps improve your liquidity quotient but also endows you with tax benefits and rebates that can reduce your overall tax liability. Below are the tax benefits you can claim when you avail of a home loan: READ MORE…
