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Homebuyers, who had been promised possession of their home long time back, but the developer failed to keep his promise, are furious because of the exclusion of ongoing projects that are 60 percent complete from Karnataka Real Estate (Regulation and Development) Act. There are innumerable sufferers who are yet to get possession but were promised possession a while back. As a result, these homebuyers are ready to challenge the exclusion of ongoing residential projects from… Read More »

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Homebuyers and developers are all trying to know how Goods & Services Tax (GST) will impact residential real estate. The rate of GST has been fixed at 12 percent for new and under-construction projects. Prices of properties are not likely to go up even though the present tax of 4.5 percent has been replaced by 12 percent GST. Let us explain why prices won’t go up. Before GST, builders paid 12.5 percent tax on raw… Read More »

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Here’s a thumb rule for homebuyers – if any ongoing project falls under RERA, it’s surely a secure and safe investment option. If any state has excluded ongoing projects from the Act, it is better to wait for new projects that would be registered under RERA. Thus, it is clear that ongoing projects are still a grey area in many states. A homebuyer must crosscheck before investing in any ongoing project whether it is RERA-compliant… Read More »

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Sumadhura Infracon Pvt. Ltd. is a known name in the real estate Bangalore circuit. We are proud to have our name among the top builders in Bangalore. The name “Sumadhura” resonates among some of the most-influential commercial and residential names in the city. With a clear vision to develop superior properties based on realistic values for its owners, joint venture partners and investment affiliates, we at Sumadhura, are proud for our timely delivery of both… Read More »

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The Karnataka Government is expected to announce the final rules for the Karnataka Real Estate (Regulation & Development) Act also known as Rera by the end of the month. Housing Minister M Krishnappa has assured home buyers and stakeholders that the Act has been finalized; however the delay in its roll out is due to its final approval awaited from the cabinet for final changes made and will be soon discussed and notified by the… Read More »

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Within days of Reserve Bank of India’s reduction in capital requirement on big ticket home loans, State Bank of India, the country’s largest bank lowered interest rate on loans above INR 75 lacs. Home loan rates have been lowered by 10 basis points by the bank for loans above INR 75 lacs to 8.55 percent for women and 8.60 percent for others. The revised rates will be effective from June 15. Risk weightage on home… Read More »

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Founder of a community living and learning space Cuckoo Hostel in Kormangala, Bengaluru, Rajat Kukreja, lives in a house that cost just INR 50,000 to build. It is a 100 square feet micro-home with amenities such as electric connection and appliances, study table and a bed. Due to the materials used to build the house, it remains cool during the summer months. The smartly designed ventilation also helps. Kukreja says that he always wanted to… Read More »

National Real Estate Development Council (NAREDCO) said last week that 12 percent GST on construction projects, which is meant for sale to buyers, will boost the sector. It will be a game-changer for the industry as well as the real estate sector, as it will subsume 16+ major taxes and turn them into a one consolidated tax, said NAREDCO president Parveen Jain. GST will even stop double taxation that hurts every sector. It has a… Read More »

Silver Ripples Front View

Sumadhura Silver Ripples features super-luxury residential apartments that will take you on a journey off the beaten track. The project has an exotic landscape that adds wings to your dreams, so that you can fly off to a distant world, far, far away from the hustles and bustles of this world. The journey does not end there though. Silver Ripples has so much to offer. Here, luxury has received a new benchmark. It is only… Read More »

NRI Investment

Non-Resident Indians (NRIs), under RBI guidelines, can purchase certain kinds of properties, though other forms may require special permissions. Thus every NRI, interested in buying property in India, must be aware of the provisions related to purchase or ownership of immovable property in India under Foreign Exchange Management Act (FEMA). Persons of Indian Origin (PIOs) and NRIs are always treated the same when it comes to investing in real estate. The Reserve Bank of India… Read More »

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