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November 2020 – Spectraa Real Estate Advisory

Monthly Archives: November 2020

MMR’s residential real estate recovery is unlikely to sustain

According to a 19 November report by Crisil, new home sales in MMR in October were 1.3 times higher compared to January after the Maharashtra government reduced stamp duty from 5% to 2% till December and to 3% for the January-March period. While the housing sector in the Mumbai Metropolitan Region (MMR) witnessed a pick […]

Mumbai: Sold 2 flats to buy one? Can avail of tax benefit

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), in its recent order, has clarified that when a taxpayer sells two residential properties and re-invests in one residential house, he or she is entitled to tax benefit under section 54. This ruling will be very helpful to several individuals. With work from home here […]

Uniform development rules coming across Maharashtra

After a delay of three years, the state is finally set to implement a unified development control rules policy for all municipal corporations, councils and nagar panchayats in Maharashtra, excluding Mumbai and a few surrounding areas. The standardised rules will leave little scope for misinterpretation by local town planning officials, said. Thane, Navi Mumbai, Pune, […]

Fresh FSI incentives to boost cluster devpt

State extends new concessions through draft notifications proposing changes in development control regulations. The state government on Wednesday extended fresh floor space index incentives to developers to boost cluster development, which later could also include slum development. The incentives have been introduced through draft notifications proposing changes in development control regulations for old and dilapidated […]