Property dealer shot dead in Nashik

A 35-year old property dealer was allegedly killed by three persons, as reported by Nashik police. Sanjay Sanap, Inspector with Nashik Crime Branch said in a release that On February 17, the victim Ranjit Mangawana was shot dead at the Artillery Centre Road in Nashik at around 1 AM. Read More at http://shopsandhomes.com/blog/index.php/2016/03/property-dealer-shot-dead-in-nashik/

Mallya lands a property deal in addition to Rs.515 crore from Diageo for leaving USL

The United Spirits Ltd. (USL) deal with Diageo has really raised the flagging spirits of Vijay Mallya. For stepping down as Chairman of USL, Mallya has not only bagged $75 million (Rs.515 crore) but also a soothing property deal. The deal allows Mallya or his nominee to purchase 13 residential, non-core properties of India’s biggest spirit maker located across various parts of the country. Further, as disclosed on an analyst call, the former Chairman of USL will get a 10 per cent discount on three of the key USL properties in Goa, Delhi and Mumbai respectively. Read More at http://shopsandhomes.com/blog/index.php/2016/02/mallya-lands-a-property-deal-in-addition-to-rs-515-crore-from-diageo-for-leaving-usl/

Can Budget 2016 provide relief for home loan buyers?

Home loans for purchase or construction of a house provides few income tax benefits to the borrowers. Currently, there is an income tax benefit for the interest payments and principal amount on home loans. However, it is felt that few existing provisions are a tad unfair, which can be addressed by the finance minister during the budget. Read More at http://shopsandhomes.com/blog/index.php/2016/02/can-budget-2016-provide-relief-for-home-loan-buyers/

Launch of 2nd real estate fund by Essel Finance

Essel Financial Advisors and Managers (EFAM), the private equity arm of Essel Finance, launched its second real estate fund with a target of raising upto Rs.250 crore. The real estate fund will be invested in various residential projects across cities such as Delhi NCR, Mumbai, Chennai, Bengaluru and Pune. In a statement, the company has added that it will target 6-8 transactions. Read More at http://shopsandhomes.com/blog/index.php/2016/02/launch-of-2nd-real-estate-fund-by-essel-finance/

Home buyers lose 85% of tax benefit on delayed possession

Did you know that a tax deduction of Rs 2 lakh annually is permissible against payment of interest on home loans, if the house is acquired within three years of taking the loan? and, if the possession takes place after three years, the exemption reduces to a mere Rs 30,000 a year — a drop of 85% – that’s like rubbing salt to an injury of delayed possession with absolutely no fault of yours! Read More at http://shopsandhomes.com/blog/index.php/2016/02/home-buyers-lose-85-of-tax-benefit-on-delayed-possession/

Commercial Assets worth Rs.1500 crore to be sold by Godrej Properties

In September 2015, Godrej Properties, the real estate arm of the Godrej group, sold 4.35 lakh sq ft office space at Bandra-Kurla Complex in Mumbai for an excellent valuation of Rs.1479 crore. In keeping with this buoyant mood, the realty firm is targeting a sales revenue of Rs.1500 crore this year through monetisation of other commercial assets in Mumbai, Kolkata and Chandigarh. Read more at http://shopsandhomes.com/blog/index.php/2016/02/commercial-assets-worth-rs-1500-crore-to-be-sold-by-godrej-properties/

Centre hints at making Aadhaar compulsory for property registration

To identify property owners and closely monitor the money entering the real estate industry, the Union government is contemplating on making Aadhaar, the identification issued by the Unique Identification Authority of India (UIDAI) mandatory for property registrations. Read More at http://shopsandhomes.com/blog/index.php/2016/02/centre-hints-at-making-aadhaar-compulsory-for-property-registration/