8Feb

Real Estate Companies – All You Need to Know

The real estate market is a tricky business and having good knowledge about it is absolutely essential if you’re looking to invest in it. Whether you wish to invest in a property or purchase one, you must keep track of market conditions and base your decision, keeping some important factors in mind such as the amenities in the locality, its future and more importantly the reputation of the real estate company from whom you’re making the purchase. If you get confused in selecting properties, you can always rely on expert help, if needed. Only an expert can guide you through things like statistics, market value and other crucial factors. If you’re considering purchasing a property in Mumbai’s reputed Thane area, you can get in touch with a reputable real estate company in Thane to make a wise choice.

The market is flooded with a number of real estate companies all claiming to offer the best properties at reasonable rates. However, only few will show you the real face of the Indian real estate market.

T Bhimjyani Realty

T Bhimjyani Realty is one of the most sought-after real estate companies, to come up with some state-of-the art projects, dominating the Thane residential scene. This real estate agency, satisfying customers since 1978, has earned the reputation of fulfilling client requirements, honouring time-bound commitments and offering a great customer service experience. A real estate giant, T Bhimjyani, is also known for its reasonable rates and world-class amenities, making it a favourite of the Thane residents. The Neelkanth Woods project in Thane by T Bhimjiani stands in testimony of their masterful craftsmanship, professionalism and desire to give residents a comfortable home.

Lodha Group

Lodha Group is another real-estate agency that has made its mark in the real estate industry in Thane. They follow a simple vision – ‘Building a Better Life’. Lodha Group is a prestigious real estate agency that has constructed some of the most ambitions residential and commercial projects, validating their reputation in Mumbai. This real estate agency has also constructed projects in cities like Lonavala, Hyderabad, and even in London. The projects offered by them are great in every aspect, be it in terms of floor plan, amenities or location.

Kanakia Group

Kanakia Group is also regarded as a premier real estate company in Thane. Formally known as Kanakia Spaces Realty Pvt. Ltd, the company has been in the real estate business for over 30 years, building millions of square feet of commercial, residential and educational spaces. The USP of the company is their foreign-inspired homes that have found a lot of buyers.

Other prominent real estate agencies, who have built sky-high buildings in the Mumbai skyline, and are now making a mark in Thane include Piramal Realty, Godrej Properties and Hiranandani constructions.

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8Sep

Planning to Buy a Home? Know the Ins and Outs!

There is no such place as home. It is comfortable and relaxing. In short, it is your heaven after a tiring day at work. Nothing beats the love and comfort one gets when in their own house. It is a place you call own. Every individual wants their dream home to be perfect in every way possible. You might have decided to buy your first dream home. While you are all in a hurry to make a purchase, timing and patience are two essential elements. No matter whether you plan to purchase 2 BHK or 3 BHK flat in Thane, ensure you have all these aspects in place. For first-time homebuyers, here are some tips that make the whole experience a hassle-free and smooth:

Documents Are Vital

When you are buying a house, having necessary documents is vital. It makes the whole buying process easy. It majorly includes sale deed, latest tax paid receipt, electricity bill, bank statements and so on. Besides, you are also advised to check the title deed of the land. Besides, confirm whether the builder has the complete right to it. For people, who are buying resale properties, ensure you ask for previous property tax receipts. This ensures, there are no pending bills. Apart from this, also ensure you check the layout of the building for a complete understanding.

Cheap Does Not Equate to Good

Price is one of the major deciding factors for many first-time homebuyers. Well, this is one major mistake and should be avoided at any cost. You may think buying a house or apartment in an area which is far away for it is offered at an affordable cost will do you good. However, it does not necessarily mean quality too. Well, it does come with some cons too, long commutes to the working area, shopping areas, school, healthcare institutions and so on. A 3.5 BHK in Thane offered by a number of developers understand these factors are often considered by homebuyers and offer apartments incorporated with these facilities. They believe in constructing a building in an area which is close to these basic amenities.

Do Not Forget the Credit Score

Your credit score matters when it comes to purchasing your dream home. A person having credit score 750 and above is considered to be excellent. This helps in getting loans quickly, in case you want to. When applying for a home loan, do a thorough research on every bank and opt for the one that offers a low rate of interest. Always remember that credit score does matter when applying for a home loan. The better your credit score, more are your chances of getting the desired loan.

Happy home hunting!

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17Jul

Know the Impact of GST On the Maintenance Charges

With Goods and Services Tax or GST rolled on, there are a number of factors homeowners need to be aware of. As a homeowner, you are bound to wonder what will be the impact of GST will be on the monthly maintenance charges paid by them. To help you in the same, mentioned are some aspects that tell when and what components GST will be applicable.

When Is Goods and Services Tax Applicable On The Maintenance Charges?

As a homeowner, you definitely know that earlier, maintenance charges were subject to the levy of the service tax if the total of maintenance charges charged by the housing society exceeds Rs. 10 lacs in a financial year. However, under GST, the same has been increased to Rs. 20 lacs. For the same, the housing society is required to collect the GST from the homeowners. The housing society will have to get a registration under the GST for the same. However, as a member of the society, you should know, GST cannot be levied if the maintenance charges do not exceed Rs. 5000 per month, even if the registration is obtained.

There is no need to be registered under the GST if the aggregate of the charges levied does not exceed Rs. 20 lacs. Therefore, GST need not be levied on the maintenance charges. For flats of different sizes in the society, there is every possibility for a smaller flat to get a monthly bill less than Rs. 5000 and hence it is the levy of GST. However, the other homeowners of larger flats will still have to pay the GST.

GST Is Levied on What Components?

You should know, the housing society cannot collect GST on all the components. It will not recover GST for the homeowners in case of reimbursement of the expenses that are incurred by the society and is recovered from the members. This further includes different taxes that are paid by the housing society on behalf of the members. This majorly includes property tax, municipal tax, non-agricultural land tax, water bill and more. A number of housing projects like Neelkanth Woods do keep these aspects in mind to ensure the home owners do not face any problem.

Rate of GST

The housing society will levy GST at 18% on the maintenance charges that are recovered from the members. However, the society can benefit from the input credit for the GST paid on different supplies like payment of audit fees, security services and more. Though the society can benefit from the input credit for these items, it cannot reduce the GST rate. In case, the society is registered under GST; it is important to pay the GST under the reverse charge mechanism.

Do know these aspects before you pay the maintenance charges.

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