LONG-TERM CAPITAL GAINS TAX AND THE IMPACT ON INVESTING IN MULTIPLE HOUSES

With new and affordable properties coming up in the market like that of Sumadhura Eden Garden Project by Sumadhura builders, prospective purchasers are more than willing to invest in more than a single property, however, can investment be made on multiple houses for Long Term Capital Gains is the question.

As per Indian duty laws, an assessee is qualified for guarantee exclusion on long term capital gains tax, marked down of a property or some other resource, if s/he buys a private house. Be that as it may, there are a couple of hazy areas in this exception.

An inquiry that emerges, is whether the assessee can put resources in excess of one residential house and claim capital gains exemption under Section 54 or 54F.  Tax payers could assert long-term capital gains tax exemption by putting resources into in excess of one house property. Be that as it may, a change was made to the income tax laws, which supplanted 'a residential house' with 'one residential house', with impact from April 1, 2015.

CAN INVESTMENT BE MADE ON MULTIPLE HOUSES FOR LONG TERM CAPITAL GAINS

It can be sensibly induced that even after the change of Section 54 and 54F, accommodating exception from long-term capital gains tax, just if the speculation is made in one residential house property, one can in any case put resources into in excess of one house and claim the tax exclusion, given the  taxpayer can demonstrate that every single such flats are utilized as a solitary private unit by the family.

On the off chance that the assessee has acquired in excess of one private house and the houses are in various areas, at that point, the assessee could claim exemption only in respect of one house.. Be that as it may, the taxpayer would be qualified for exclusion in excess of one unit, if the two neighboring or persistent units are changed over into one residential house, and the two units are expected to be utilized as a solitary house for the family's home.

LIMITATIONS

Long Term Capital Gains from sale of real estate pulls in tax of 20.6%, with indexation. In any case, segment 54 of the Income-Tax Act, 1961, gives that long term capital gains tax can be spared by reinvesting in a private property, and as amended by the Finance Act, 2014—reinvested in one private unit. The new house must be purchased either 1 year before the exchange of the older property or 2 years after the exchange. In the event that you wish to build a house, it ought to occur within 3 years of exchange of the older property. Keep in mind, it is required to keep the sale proceeds  in a different record under the Capital Gain Account Scheme (CGAS) in the event that you intend to purchase a property later—however not following 2 years have terminated. Regardless of whether you are building a house, the cash ought to be kept in CGAS to avail the tax benefit. Withdrawals can be for development, and no other reason.

The new house must be in India and ought to be the main residential property you possess. In addition, on the off chance that you purchase another new house or build one (other than the new one), within a time of 2 years or 3 years, respectively, from selling the older house, you lose the tax cut. The new house can be sold just 3 years after it is purchased or built.

Godrej Seven in Joka Kolkata - Residential proprety coming soon.

With the growing demands of apartments in pace with urbanization, there is always an immense need of peace which one always strives to find in the lap of nature. Imagining a home in mother nature’s lap with all the modern lifestyle luxuries and a place to introspect  in this world of havocs and tensions, is a great pleasure. In addition to this, the residence giving best of its economic  value at times of need is much bigger dream. So, here one comes up with dream came true.

The well-known Godrej developers is planning to launch an innovative and new project- which is Godrej Seven. Planned and set-up in Joka, Kolkata on the Diamond Harbour Road, the project aims at developing a modern residential area in fusion with greenery and nature’s touch. The project also aims to try giving best of the architecture and construction qualities to the clients.

GODREJ SEVEN

Amenities provided:

 The project provides amazing apartments with 2, 2.5 and 3 BHK units.

A serene view of large green pockets within a property would be energizing every person associated to it.

The project offers a huge range of floor plans to select. Ideal and unique floor plan information of the project are provided to the homebuyers so as to match their requirements.

The project includes providing, best of facilities of uncommon walls among the residences, Rain-Water Harvesting, Club House, Health Facilities, Broadband Internet ,Bank, Swimming Pool, Mini Theatre, Multi-purpose Halls, Space Provision for Supermarket is also there, Security is at its best, Tennis Court, wifi, Intercom, Community Hall,Library, Temple, Recreation Facilities and Indoor Games also add to the facilities.

The project will include lush green area around the residences, facilitating peaceful environment.

Approved by RERA, the Godrej Seven project will be using latest of technologies and properly drafted tools for perfect area utilization. Joka, is one of the best localities, to invest in. It provides as a perfect commercial, as well as cultural and historical heritage centre.

The apartments are highly affordable ranging from about 34 Lakhs to 61 Lakhs.

BEST AMENITIES 

Major highlight:

 The metro project in the city will further strengthen the connectivity of the region. The commercial areas are highly accessible from the area.

The project extends to an area of 22.23 acres with 7 towers with housing of 894 units. The prices are rising with pace of time. So, for those who wish to invest with the guarantee of best returns in future, it’s the right time to buy. The size of every apartment is  800 to 1350 square feet.

Services and Speciality:

The service providers have a good contacts with reputed loan providing agencies and banks and ensure faster sanction and disbursal of home loans. NRI clients are also consulted and are honestly advised.

The nature loving people will be at their best in the apartments. As the campus is green with sophisticated furniture in each house.  The spacious apartments are designed to allow maximum ventilation. Modern living aspects are followed and the fittings and decorations are at their best. The large windows and wide balconies allow best of the views to be enjoyed. So, Godrej Seven is the best investment bet in Kolkata if one needs satisfaction.

Why You Should Invest In Sumadhura Group’s Eden Garden

Sumadhura Group is showing its excellence on the eastern part of Bangalore. The Eden Garden is the prime project for Sumadhura Group. The property, located in the Whitefield area of Bangalore. The Sumadhura Eden Garden is an epitome of elegance and simplicity.

Advantages of Investing in Sumadhura’s Eden Garden

 The Location

The suburban location of Whitefield is one of the advantages of the investment. The former Anglo-Indian settlement is now a high-profile technological hub. Several MNCs like Oracle, Wipro, IBM etc. operate here. The vicinity of IT Cluster adds value to your investment in Sumadhura’s Eden Garden.

Whitefield is well-connected to Bangalore, Mysore, Chennai etc. You can commute using the train, bus, cab etc. You can expect metro in this area soon. The Bangalore International Airport is at a driving distance from Whitefield.

The lifestyle is great here. You have malls like Forum Value Mall, VR Bengaluru, Pheonix Market City and many clubs and pubs which add to the nightlife. You can shop, entertain, relax and do lot more in this prime location.

Whitefield, blessed with institutions like Chrysalis High, Vydehi School of Excellence, Whitefield Global School, Deens Academy, this location is worth an investment. The plus point is, you have medical facilities from Columbia Asia Hospital, Manipal Hospitals, Narayan Multispeciality Hospital in your vicinity.

The abode of Baba Sathya Sai will serve your cosmopolitan lifestyle like never before.

 The Amenities

Sumadhura’s Eden Garden, equipped with world-class amenities and state of the art infrastructure. The project has basic amenities like security, elevators, parking, power backup, children’s area, rainwater harvesting. Sumadhura’s Eden Garden will enclose a swimming pool, clubhouse and intercom for your convenience.

The project will have a skating rink, gym and all kinds of indoor and outdoor sports facilities. The fun here is unlimited with a barbeque space. You can enjoy tasty outdoor cooked food with friends and families.

Other amenities include palm court, event lawn, lazy lawn corner. Sumadhura’s Eden Garden follows Vastu in its architecture, so await an array of positive vibes from your surroundings. 

Variety

Sumadhura’s Eden Garden has a variety of apartment types. You can avail for 1,2,3 BHK flats here. In the Technological Capital of India, this is heaven in disguise for the stressed bachelors. You can relax here and enjoy the amenities included in your package.

 Other Perks

Sumadhura’s Eden Garden has 80% open space, so move around and don’t feel enclosed in the area. You can find different types of jobs in Bangalore, one of them is Work from Home. The project includes a separate Work from Home station for you, where you never feel detached from a workplace.

The builder leaves no section untouched. You have a creche in the Sumadhura Eden Garden for the tiny-tots of the society.

About the Project

The total project area is 14.20 Acres. Sumadhura’sEden Garden has 12 towers and each tower having 15 floors. The price starts from Rs. 28.37 lakh and hike up to Rs. 65.47 lakh. 1113 units are on sale. The project is expected to complete by December 2021.

The prime location, world-class amenities, and state of the art infrastructure makes Sumadhura’s Eden Garden a premiumpurchase. In our opinion, you should go for one of the units. 

KOLKATA CITY REAL ESTATE BECOMES MOST AFFORDABLE IN 7 YEARS

Kolkata's land showcase business or so to say the real estate market in Kolkata is seeing another period of reasonableness. The land deals in Kolkata is at its most moderate levels over the most recent 7 years according to reports. For purchasers who are anticipating fantastic arrangements on land, there are a few choices to look over. This is a purchaser's market and ought to draw in more end-clients and financial specialists alike to the market throughout the following couple of months. There is a revision in costs over the city with a noteworthy lessening in the genuine purchasing cost because of engineer rebates and different complimentary gifts. Infact one more property is coming soon called Godrej Seven Joka Kolkata. Land engineers in the city have at long last been bringing down costs of properties, especially the weighted normal value which would remain completely consistent even during market vulnerability.

Be that as it may, half of land developers gave complimentary gifts or rebates on the powerful realty value which emerges out of transactions. Be that as it may, 80% of designers are currently giving rebates on the costs regardless of around 4.5% inflation and the ascent in expenses of development. This takes the compelling markdown count to around 12% and homes are at their most moderate levels in quite a long while.

Godrej Seven Joka Kolkata

Tollygunge is a noteworthy case in such manner. Costs in this prime South Kolkata neighborhood extend between INR. 5, 500 and INR. 13, 500 for every sq. ft. contingent upon the undertaking according to reports. Be that as it may, costs have remedied by an incredible 17% as of late. There has likewise been an adjustment of 12% in Rajarhat New Town where costs fluctuate between INR. 4, 000 and INR. 6,000.

Costs crosswise over Park Street, Ballygunge and Rawdon Street have continued as before while costs have remedied by roughly 2-4% in extends like Salt Lake, Jessore Road, BT Road, Narendrapur, Behala and Madhyamgram. Most land designers are putting forth rebates of 7.5% to clients who might be empowered by the GST of 12% now in contrast with 4.5% of administration impose. Land engineers are likewise offering complimentary gifts like carports or parking spots and this is significantly ascribed to bring down deals volumes of 14, 147 units in the year 2017 according to reports. Land engineers have likewise been going moderate as far as new task dispatches.

When contrasted with 2016's count of 20, 984 units, there were only 15, 940 units that were propelled a year ago which shows de-development of around 24%. Notwithstanding, the warning of the West Bengal Housing Industry Regulation Act will prompt development in land deals.

Be that as it may, CREDAI-Bengal President Nandu Belani expressed that reducing was dependably there, however what has happened now is that structures are retaining the ascent in cost because of the effect of GST. Since 2011, development cost has expanded by 10-15%. Be that as it may, costs have stayed steady. That mirrors the market notion and the degree to which designers have gone to empower deals. CREDAI India VP Sushil Mohta anticipates that request will develop once the state informs the West Bengal Housing Industry Regulation Act.

IS SOUTH-FACING HOME GOOD OR BAD?

The only think people are in lookout for in their homes is peace, happiness, prosperity, and health and Vastu Shastra, meaning the ‘Science of Construction’ which builds on the traditional Hindu system of architecture promises to provide you with the required tips, directions, and suggestions.

The direction of the house is of the prime importance. There has been a certain misconception for the longest time regarding the South facing homes and how they are actually a ‘bad sign.’ South facing homes can cause problems to the resident like ill health, ill luck, bad reputation etc. This sort of ‘myth’ has also allowed builders and developers to ask for higher rates in North facing or east facing houses. The South direction is governed by the Lord Yama – the God of Death. It is believed that the inmates of the South facing homes can face detrimental results but if one goes according to the vastu shastra, one realizes that by following certain vastu ideologies, a South facing house can be turned into the fortune. Also, if we see, the house of Bill Gates, probably the richest man on earth faces south. The White House is also located at South.

The direction of the house is determined by its main door. Time and again it has been established that the main entrance of the house is the determining factor of the energy that the house will comprise of. The main gate assumes a lot of importance in this aspect. Thus, despite it being a South facing house, what will matter is the direction of the main door.

Vastu Shastra suggests that after East, South facing homes are the most preferred. South facing homes generally ensure prosperity as they are at the receiving end of the magnetic energy and thus help create strong and healthy vibes. Also, many wealthy people actually live in houses located at South because if one follows the vastu shastra strictly, it can lead to wealth and prosperity. In fact Godrej Zest is a new pre - launching residential south facing property. Good news for buyers as well as investors who want to buy or invest in south facing property. South houses are good and beneficial if they are properly and with a due concern constructed.

The vastu tips for the South facing houses include things like the main door should be located exactly at south; kitchen should be at southeast, keeping open areas in North and East, avoiding any slope at south direction, a higher boundary at South, avoid constructing any well or pond at the south, use South-West area for the owners bedroom and also the South-west corner for dumping the waste, doors must be fixed at the distance of six inches and many more. If there are some south facing home defects, they can be easily fixed by using some vastu remedies like Vastulead energy helix, Vastu copper energy helix, Bhaum yantra, Dakshin Mukhay yantra, Vastu energy crystals. One can now easily buy a South facing estate without any worries or insecurities.

IS IT BETTER TO BUY A PLOT OR A FLAT AND CONSTRUCT A HOUSE IN BANGALORE?

Bangalore is an upcoming metropolitan city improving with time. It has a good system of connectivity, all top notch amenities and rapidly developing and expanding commercial area! So naturally, many millennial and older generations alike are flocking to this mega city to find their own place to live. However is it better to live on rent or to buy a plot or property in Bangalore?

We will let the following salient points decide it.

The pros for buying a plot or flat and constructing a house in Bangalore:-

• Presence of computerized RTC helps to keep good track of your property and lets you know all the extensive details without any hidden costs.

                   

• Real estate is practically booming in this cyber city. Starting from condos to small apartments to villas, you are literally spoilt for choice. The ever-expanding city has also quite a lot of plot vacant and available just waiting for you to construct your dream house!
• Labour is not a problem in Bangalore and developers and contractors are usually scrupulous enough to finish your projects with little or no delay.
• The Central Business District and the Whitefield's and Bannerghatta area are prime locations  where there is a lot of commercial presence and has good connectivity with all important districts. And there is a tonne of property available here too in which  Sumadhura Eden Garden is one of them affordable apartments.

                                        

•  Bangalore is a relatively safe city and there has been increased police vigilance to help in maintaining the safety of women and other citizens as well as maintaining the sanctity of the houses.
• All kinds of local suppliers and handymen are available in just a stone’s throw away no matter what district you choose to be in. 
• Bangalore is a hot and happening city with a lot of five-star restaurants, clubs, malls, gardens and amusement parks so no need to worry about ever having a dull evening there!
• There is a multitude of property available by all well-known developers and construction group post the recent depression in the real estate market last year! Now it is steadily climbing and people are buying up property cautiously but steadily!
• Garbage segregation and collection is done at a regular interval and efforts are taken to keep the city clean.

Cons of having a flat or house in Bangalore:-

•  Despite good connectivity, congestion is a major problem in Bangalore, Traffic gets invariably clogged at all important hours and takes a lot of time to clear.
• Public transport is expensive in Bangalore.
•  Due to the high demand for flats, the city is starting to become a little overcrowded due to unplanned growth.
• If you do not know the local language, you may have some problems connecting or communicating with the local people. They do not prefer Hindi much, Its either Kannada or English.

 However, despite all drawbacks, settling down in Bangalore does sound like a great lucrative option and has a lot of benefits.  It is a relatively peaceful city with lots of opportunities awaiting and right now there will be a lot of offers available! So what are you waiting for? Go ahead to make the best deal of your lives!