Here’s a double blow for all prospective house buyers in the city. First, the 2010 ready reckoner for the realty sector upped the prices of homes by hiking the stamp duty rates by 10-20% in Mumbai. And now buyers will also have to pay higher property tax to the Brihanmumbai Municipal Corporation (BMC).
The civic body has already decided to levy property tax on capital value system taking into rates notified in the ready reckoner. Buyers definitely have a reason to feel concerned as the 2010 ready reckoner released by the state government, on Friday, showed a 5% increase in property rates between Goregaon and Dahisar.
The hike in rates is seen as an attempt by the BMC to boost affordable housing. The average rates in this area have now shot up to Rs3,000-Rs5,000 per square feet as against Rs2,500-Rs4,000 per square feet in 2009.
More : dnaindia.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
Bunts Sangha Higher Education
Bunts Sangha Higher Education is a location in Mumbai in India. If you have seen Bunts Sangha Higher Education , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Bunts Sangha Higher Education is important to us. Please provide you comment / review / article on Bunts Sangha Higher Education in Mumbai below.
Ever Ready Cleaners
Ever Ready Cleaners is a location in Mumbai in India. If you have seen Ever Ready Cleaners , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Ever Ready Cleaners is important to us. Please provide you comment / review / article on Ever Ready Cleaners in Mumbai below.
Ever Ready Cleaners
Ever Ready Cleaners is a location in Mumbai in India. If you have seen Ever Ready Cleaners , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Ever Ready Cleaners is important to us. Please provide you comment / review / article on Ever Ready Cleaners in Mumbai below.
Realty rates up as ready flat stock dwindles
Property rates have begun climbing on the back of seasonal demand and a steady fall in the stock of ready possession flats in Mumbai. In recent weeks, the Ekta Group has hiked rates for almost-ready flats at Lake Primerose in Powai from Rs7,400 per sq ft (psf) to over Rs7,800 psf. Kanakia Builders have increased rates for its Kanakia Samarpan project at Kandivli from Rs7,800 psf to Rs8,000. At Hiranandani projects in Thane, the prices of ready flats have been raised from Rs5,100 to Rs5,700 psf, excluding floor rise. Brokers say this is happening because developers don't have too much unsold
Commercial Property Investors Plan To Double Buys In 2010
Commercial real-estate investors will see a shortage of available stock in some markets in 2010 as they plan to double global investments to $315 billion, with $2 chasing every $1 of property, real estate adviser DTZ Holdings PLC (DTZ.LN) said Thursday. In some markets, there will be a shortage of properties, particularly prime properties in Europe, Germany, the U.K. and Asia including Australia," said Nigel Almond, associate director of real-estate strategy at DTZ Research. He added, however, that the weight of money should provide the impetus for increased liquidity resulting in higher prices, which will subsequently lead to an increase