Real Estate News

Public Offer

Real estate firm BPTP, which aims to raise Rs 1,500 crore through an initial public offer, will utilise around Rs 1,000 crore from the proceeds to develop its existing and future projects.

Future Projects

The realty firm would utilise Rs 514 crore for the payment of development charges to the government authorities for its ongoing and future projects.

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Tax Benefits

Property tax or real estate tax is an annual tax which is levied on a real property. Property is considered as a source of income in India and thus tax is imposed on the property which the owner pays every year. The tax amount is paid to the local government depending on the value of the property. These funds which are collected are meant to be used for improving the road conditions, education and infrastructure of the area.

It is advisable that every property owner pay property taxes to be safe and this will in turn help in improving the civic conditions of the city. Paying tax on time or even before the dead line can benefit the owner of the property. If the owner pays property tax a year n advance, this will help speed up the federal deductions.

The Amarchandrahas Developers any kind of property in the city, the last date to pay tax for the second half year is November 29, 2012. Paying property tax will ensure that the property is valued appropriately. The market value of the property will be accessible for the owner in case of sale of property.

Property tax is a source of revenue for the local government. If taxes are paid properly, the money can be used for the betterment of the facilities in the city, ultimately benefitting every citizen.