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5200 flats in Amrapali projects either bogus or unsold: SC
Tuesday, February 12, 2019, 3:43 PM
There are 5,200 flats in various Amrapali projects which are either bogus or unsold, court-appointed forensic auditors told the Supreme Court. Moreover, Amrapali's two properties couldn't be auctioned by Debts Recovery Tribunal as banks refused to finance buyers. The case pertains to petitions filed by homebuyers, seeking possession of around 42,000 flats booked under Amrapali projects.
Govt panel favours lowering of GST rates on under-construction houses
Saturday, February 9, 2019, 5:10 PM
A seven-member ministerial panel led by Gujarat Deputy CM Nitin Patel favoured the lowering of the Goods and Services Tax (GST) on under-construction flats to 5% without credit for taxes paid on raw materials. Currently, GST on under-construction properties is 12% after allowing for the cost of land. Properties, where the construction is completed, attracts only stamp duty, not GST.
Green nod for Rs 676 crore building complex project for MPs in Delhi
Sunday, November 18, 2018, 6:59 PM
The Environment Ministry has given the final clearance for a project to build duplex flats for Members of Parliament (MP) at a cost of Rs 676.5 crore in New Delhi. The building complex will have 264 new flats along with servant quarters and basement car parking. It will be constructed over an area of 19,91,37 square metre.
