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Posts Tagged ‘bangalore property’

BBMP Property Tax collection for 2011-12 begins

31 Mar

For property owners, March 31 is last day to pay their property tax for current year 2010-11. The city corporation finally implementing its long-planned cashless transaction for one of its regular revenue sources. According to BBMP officials, the increasing number of bouncing cheques was also a reason to introduce this new method.

Tax payers this year can heave a sigh of relief that the corporation will not be going ahead with the 15% revision, as per the revised Self Assessment Scheme rulebook. From April 1, 2011 BBMP starts collecting property tax for for 2011-12. From April 1, property owners will also have to fill a separate application form for payment of garbage cess. The applications will be made available at all tax counters.

Tax Calendar

March 31,2011 : Last date to pay property tax for this year (2% of tax amount for every month).

Property Tax 2011-12

April 1, 2011 : Tax collection for 2011-12 begins. Also fill a separate application form for payment of garbage cess.
April 30, 2011: Last day to pay full tax  of 2011-12 and avail 5% rebate
May 30, 2011  : Deadline to pay first half-year installment or full (without penalty or rebate)
Nov 29, 2011  : Deadline for second installment without penalty (2% of tax amount for every month)

 

Read More:

commonfloor.com/stories/bbmp-property-tax-collection-for-2011-12-begins

 

 
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Running from pillar to post to get property document will soon be passe

02 Feb

Running from pillar to post to get a marriage certificate or property document will soon be passe with the e-governance department planning to issue them at Bangalore One centres.If you want digitally signed copies of property documents over the counter, get to a Bangalore One centre and provide basic details like survey number, property owner’s name and registration date. The digital version will be legally valid and the service available from the first week of February.

Marriage certificates are being uploaded to the data centres and once this is complete, probably by March, Bangalore One centres will start issuing them, the official said. However, in the case of encumbrance certificates, there will be a waiting period of four to seven days since it involves a number of back-end processes.

In fact, it was the successful issuance of birth and death certificates across Bangalore One counters that prompted the department to extend the facility to Karnataka One centres so that those in other cities can also avail the facility. However, it will take time to issue property documents and marriage certificates across Karnataka One Centres

-bangaloremirror.com

 
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Purva Skywood

16 Dec

Purva Skywood is the high rise luxury apartments launched by Purvankara on Harlur Road off Sarjarpur road. Purva Skywood has on offer 2, 3 & 4 BHK smart home (with a whole lot of exciting features) in a highly developed precinct nestled conveniently. Purva Skywood will be spread over 13 acres of land and the Complex will have 728 units. The whole area is developed with ample green space making it an eco friendly zone.

Purva Skywood Bangalore will have state of art health club, swimming pool, club area and play area having different types of games for residents. The Purvanakara Group has completed many residential and commercial projects covering approximately 3.53 million sq.ft of saleable area. Today, the Puravankara Group commands more than 3 decades of construction expertise. The Group has grown to be one of the leading Real Estate Developers of the country, serving the needs of a discerning clientele.

Amenities at Purva Skywood

  • Amphitheatre
  • Cricket Pitch
  • Skating Rink
  • Meditation / Aerobic Room
  • Squash Court
  • Billiards/Pool Table
  • Table Tennis
  • Jogging Track
  • Aroma Garden
  • Gymnasium
  • Old Folks’ Corner
  • Steam & Sauna, Jacuzzi
  • Swimming Pool/Toddlers Pool
  • Provision for Crèche
  • Provision for Super Market
  • Party Hall
  • Provision for Restaurant
  • Basketball Court (Mini Court)
  • Outdoor Multi-Purpose Court (Volleyball/Badminton Court)
  • Outdoor Children’s Play Area
  • Well-Lit Landscaped Garden
  • Water Purification Plant
  • Fire Protection System
  • Sewerage Treatment Plant

Price Details of Purva Skywood

Price Per Sqft (Rs 3,353)

Type                  Size(Sqft)              Amount(Rs)
2bhk                 1309                       43,89,077
2bhk                 1330                        44,59,490
3bhk                  1690                        56,66,570
3bhk                  1867                        62,60,051
4bhk                 2340                         78,46,020

 
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Stamp Duty Reduction Will Help Common Man For Buying His Dream Home

03 May

The State Budget has extended some concessions in the form of reduction in stamp duty charges. The stamp duty on sale agreements of immovable property (without delivery of property) has been reduced to 0.1 per cent of sale value.The stamp duty on DTD (Deposit of Title Deeds, executed at the time of taking home loan or loan against property), has been reduced to 0.1 per cent of loan amount subject a minimum of Rs. 500 and a maximum of Rs. 50,000.



Important concessions announced in the Karnataka Budget 2010-11

  • The stamp duty on sale agreements of immovable property (without delivery of property) has been reduced from 0.25 per cent to 0.1 per cent of sale value, subject to a minimum of Rs. 500 and maximum of Rs. 20,000.
  • The stamp duty on DTD has been reduced from 0.25 per cent of the loan amount with a maximum limit of Rs. 5 lakh to 0.1 per cent of loan amount subject a minimum of Rs. 500 and a maximum of Rs. 50,000.
  • Stamp duty payable on leasing out property a residential property for less than one year, the stamp duty payable is 0.5 per cent of annual rent and advance (deposit) taken, subject to a maximum of Rs. 500 only.
  • Stamp duty payable on leasing out property if the property let out is commercial or industrial, the stamp duty payable would be 0.5 per cent of annual rent plus money advanced, without any maximum limit.
  • The stamp duty for lease period not exceeding five years was one per cent and for more than five years and less than 10 years, it was two per cent on annual rent plus money advanced. It has been now reduced to one per cent for lease period from one year to 10 years. Further, stamp duty applicable on lease period of 10-30 years which was four per cent of annual rent plus advance taken has been reduced to two per cent for lease period of 10-20 years and three per cent for lease period of 20-30 years.
  • Stamp duty on sale agreement (joint development) which was one per cent of the market value of the property without any ceiling has been rationalized to one per cent of market value with a maximum of Rs. 1.5 lakh.
  • Stamp duty payable on Power of Attorney (given for developing/construction), which was one per cent of the market value without any ceiling has been rationalized to one per cent of market value, subject to a maximum of Rs. 1.5 lakh.

The builders and developers will also benefit from the budget as stamp duty on sale agreement (joint development) has been rationalized to one per cent of market value with a maximum of Rs. 1.5 lakh. Similarly, stamp duty payable on Power of Attorney (given for developing/construction), has been rationalized to one per cent of market value, subject to a maximum of Rs. 1.5 lakh.

The State Government has been following the stamp duty rates as recommended in the National Habitat Policy in order to get various benefits available under JNNURM (Jawaharlal Nehru National Urban Renewal Mission). Hence one can expect the stamp duty charges on registration of immovable property to get reduced from the present six per cent to five per cent in the next budget (2011-12).

 
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Last chance for Property Tax defaulters

10 Feb

Despite issue of notices,many of property owners has not paid property tax 2008-09 & 2009-10 under SAS.The civic authority plans to do a door-to-door survey to issue notices.The demand notice will give them 15 days time.

  • For payment made after 30th November 2009, an interest of 2% per month will be levied.
  • Property owners paid property tax for 2008-09 can avail the facility of online paying for the year 2009-10 by using Visa/Mastercard on BBMP’s website.
  • The property owners without Occupancy Certificate can pay property tax under Self Assessment Scheme (SAS) with their title deed (sale deed).
  • The demand notice will give property owners 15 days time to make the payments with two per cent penalty.
  • Further action will be taken against them as per the provisions, if defaulters do not pay their dues even after receiving demand notices.
  • The property owners cannot file self assessment declaration once assessment order is issued.
  • Log on www.bbmp.gov.in or your nearest Help center for more details.
  • For online payment http://sasbbmp.com/

According to an estimate, nearly 2.5 lakh property owners have not paid their property tax for 2008-09 and 2009-10. Now, the civic authority plans to do a door-to-door survey to issue notices to the defaulting property owners.The property owners without Occupancy Certificate can pay property tax under Self Assessment Scheme (SAS) with their title deed (sale deed).The property will be registered in BBMP’s B-Register until regularization of property. Read More




 
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