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Issue 01 – October 2013

REAL ESTATE MAXIMUM Real Estate Regulatory bill will bring Oligopoly in the Sector


Contents Advertorial 05 Hot Properties For Sale and Rent


Real Estate regulator bill will bring oligopoly in real estate sector 15 Ahmedabad Real Estate Market 17 Technology Article


Taxation and Vaastu Tips


HonoraryEditor : Manan Choksi Published by : Madhuvan Space Management Pvt. Ltd. Circulation : Tanmay Mehta +9171727100 Volume

: 1


: 1

Regd. Office : G5, Block A, Safal Profitaire, Corporate Road, Prahladnagar, Ahmedabad -15 Disclaimer: This magazine is for private circulation only. The data published in this magazine is based on the inputs provided by various sources. The publisher, printer and the Editor do not guarantee the authenticity of correctness of the data published herein. Printed and Published by MSMPLat Ahmedabad.


Editor’s Message


e are happy to publish this first magazine at the time when India celebrated its 67th Independence Day and Real Estate Regulatory Bill is just round the corner to help Real Estate Industry The Real Estate Regulatory Bill, when enacted into law, will ensure that home or property buyers get timely possession, and as per the specifications promised by developers, say realty firms and consultants. Besides, it will improve the image of the realty sector by bringing in transparency. The bill will pave the way for providing the much needed transparency by seeking to regulate the hitherto largely unregulated housing sector in India. However, industry experts highlighted that the bill does not provide relief to builders in getting faster approvals for. The ambit of the proposed law is quite large and seeks to cover all major private residential developments across the country as the bill applies to all projects over 4,000 square meters. Real estate agents will also be asked to register with the regulator, a move that is expected to help in curbing money laundering. The bill that seeks to provide a uniform regulatory environment to the sector was earlier opposed by private developers but the government stuck to it on the argument that it will infuse transparency. It has provisions under which all relevant clearances for real estate projects would have to be submitted to regulator and also displayed on a website before starting construction. The bill has tough provisions to deter builders from putting out misleading advertisements related to the projects carrying photographs of the actual site. Failure to do so for the first time would attract a penalty which may be up to 10 per cent of the project cost and a repeat offence could land the developer in jail.


Wishes from RE/MAX MGM on a launch of Real Estate Maximum


t’s a matter of great pride that a magazine is being

its franchisees are active and working with Real Estate

launched for the people of Gujarat, especially de-

buyers and sellers with most pr fessional manner than

dicated to Real Estate trends, news, listings and

any other brokers.

projects. The name of the magazine, Real Estate

MAXIMUM denotes that it will be covering maximum coverage of Real Estate happenings. This magazine would be focusing on giving all its readers monthly updates on various aspects of Real Estate in India and what is happening globally which affects our Real Estate trends. To my mind Real Estate regulatory bills is a first step towards empowering Real Estate Consumers and their rights will be protected and now only professional and ethical builders will be trusted. RE/MAX MGM hopes to capture more market

Manan Choksi,

share in Ahmedabad Mumbai and Pune market where


Regional Owner, RE/MAX MGM

eal Estate Maximum – A Real Estate Maga-

Indicates which property sectors offer the best oppor-

zineis a monthly series of trends and fore-

tunities and which ones to avoid.

cast publication that reflect the views of leading real estate executives. Real Estate

Explains how the economy and concerns about credit issues are affecting real estate.

Maximumprovides an outlook on real estate invest-

Discusses which metropolitan areas offer the most

ment and development trends, real estate finance and

and least potential. Describes the impact of social and

capital markets, property sectors, metropolitan areas,

political trends on real estate.

and other real estate issues.

Each issue of Real

My best wishes to Real Estate MAXIMUM

Estate MAXIMUM: Tells you what to where the best opporElaborates capital markets, ding sources and flows of equity and debt capital.


expect and tunities are. trends in the incluAashil Patel, Regional Owner, RE/MAX MGM



Welcome to New Franchise Owner RE/MAX Mumbai Gujarat Maharashtra proudly welcomes Mr. Munish Gupta as a Broker Owner of RE/MAX DREAMZ. RE/ MAX MGM wishes him all the best. Mr. Munish Gupta has been a most successful broker Associate in India and now he has started a new journey as a Broker Owner. The Broker Owners of RE/MAX Gujarat are meeting twice in a month at Regional office over a breakfast early in the morning to discuss various issues and suggestions to grow the RE/MAX network. They discussed marketing and recruitment related queries among each other. The inputs and suggestions by franchise owners help everyone conducting their business more effectively and spread services of RE/MAX to more and more people. RE/MAX MGM has started a new initiative of marketing in form of NO PARKING boards in Prahladnagar, Vastrapur and Bodakdev areas. These boards have got tremendous visibility and spreading brand awareness of RE/MAX ONLINE TRAININGS: In August 2013 RE/ MAX MGM regional office gave online training for How to Break Bread with Customers, The Attitude of Peak Producer, Professionally Serve Every Listing and Managing Your Time and Productivity. All the trainings given by RE/MAX MGM are available on and YouTube video channel. Anyone can take advantage of the same and learn many real estate topics for self-development which ultimately helps service clients better than any other real estate brokers. In ONLINE TRAINING IN JULY 2013 four topics were covered namely CREATING REFERRALS, WORKING WITH BUYERS – THE REFERRAL WAY, WORKING WITH SELLERS, and SETTING SMART GOALS.



Master Franchise Show Participation by RE/MAX MGM in Mumbai

A tips shared by Mr. Anand Choksi, Broker Owner of RE/ MAX ADVANTAGE Ahmedabad gave tips on suceesful real estate investing in a houseful Seminar at Rajpath Club Ahme-

RE/MAX MGM participated in The Master Franchise Show

dabad with all ears eager to listen to magical orator . Many

which is the premier event in master franchising, attracting

clients and investors attended the seminar by spending their

the most successful multiunit / Brand operators, Global

valuable time and make this Seminar very successful! RE/MAX MGM Congratulates Mr. Anand Choksi for such a great initiative.

RE/MAX MGM Congratulates Mr. Vivek Parikh of RE/MAX Metro on successful completion of 3 years in RE/MAX Real Estate Business

brands, and service providers in the industry. The exhibition had variety of International franchises outlining their concepts and business operations. Master Franchising allows people or corporations to purchase the rights to sub-franchise within a certain territory. Mr. Manan Choksi, Mr. Aashil Patel, Mr. Sahil Shah from RE/MAX MGM and Mr. Puneet Verma from RE/MAX India represented RE/MAX in this master franchise show.

Seminar on Successful Real Estate Investing by Mr. Anand Choksi

RE/MAX MGM heartily congratulates Mr. Vivek Parikh, Franchise Owner of RE/MAX METRO for a successful journey of 3 years as a realtor with vibrant team of 14 broker associates. RE/MAX METRO grandly celebrated the occasion and invited everyone associated with them in last 3 years. Moreover, Mr. Vivek Parikh gave RE/MAX METRO Branded chocolates to its clients and well-wishers which was a very unique idea liked by all. We wish them more successful years ahead.


RE/MAX Role of Technology in Real Estate

Open House by RE/MAX Advantage RE/MAX Advantage’s Broker Associate Mr. Ajay Sharma organized an open House of Aishwarya Flat, a beautiful 4 BHK at Ambawadi on Sept 8, 2013 and got a good response. All the broker associates of RE/MAX must go for open house for their rightly priced properties for faster selling of the same.

This Education Program was arranged by Thane Estate agents associates of Thane for the real estate brokers and Sahil Shah from RE/MAX MGM conducted the seminar and gave presentation on the use of technology in real estate to make effective use of their time and serve clients more efficiently.

RE/MAX Files Registration Statement for Proposed Initial Public Offering RE/MAX, one of the world’s leading franchisors of real estate brokerage services, today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The RE/MAX brand name has held the number one market share in the U.S. and Canada since 1999. The timing, number of shares to be offered and the price range for the offering have not yet been determined. RE/MAX intends to apply to list its common stock on the New York Stock Exchange. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan will act as joint book-running managers for the offering. Perella Weinberg Partners is acting as advisor to RE/MAX.

More details can be accessed from about/newsroom



India is all set to take on Pakistan in their opening match at the ICC Cricket World Cup 2015 which is being jointly hosted by Australia & New Zealand. With the RE/MAX Balloon soaring high above the Melbourne cricket ground, we all from RE/MAX in India would like to wish the cricket team all the very best!! Mr. Samir Chopra, Chairman Convention Committee, NAR India giving opening speech at 5th Annual convention & Exhibi-

Sam Chopra on NDTV Profit discussing real estate trends with other panelists in Property India program.

tion of NAR-INDIA. 1000 + top Brokers from across the country attended the 5th Annual Convention of NAR India which included Speaker sessions, networking, entertainment, educational courses, referral exchange program and much more. It was a great networking event.



RE/MAX franchising At RE/MAX, it all starts with you. It’s about your energy, ambition and leadership, backed up by an immense RE/MAX support system and extensive tools and resources. As you do your research, consider how RE/MAX compares to other real estate networks in philosophy, services, brand awareness and productivity. And think about the possibilities when you combine your strengths with the power of RE/MAX. When you join an established franchise brand like RE/ MAX, you hit the ground running with 40 years of operational expertise and global recognition behind you. What’s more, you’re armed with endless educational resources – both for helping you recruit top agents and for bettering your agents once they’re on your team.

Top 10 reasons to invest in a RE/MAX Franchise 1.

The power of the RE/MAX name


Recruiting and franchise support


Worldwide real estate leader


National advertising


Entrepreneurial approach


On-demand education


Technological edge


Powerful lead generation


Business specialties


Everybody wins



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Contact :Aja J Shah RE/MAX Metro

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A KingsizeVillla - with 1500 sqyds of a beautiful Villa. It already comprises of a huge portico, a large Living area, Drawing hall, a Study, floor to floor elevator, full size kitchen & store, 4 Bedrooms all with attached WCs/Baths etc. The lux bathrooms are provided with lifestyles of Jacuzzi, Steam & Sauna.

Call +91-9687274881

Contact:ParveshGirgla RE/MAX Aad Realty

Luxurious Bungalow on sale in Sec.19 – Gandhinagar 1 Hall, 4 Bed Room all are with attach toilet, 1 Children Room, 1 Kitchen, 1 Pooja Room, Basement Home Theater, Servant RoomGarden, Privet Parking, V.VIP Area

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Contact:SirazPadhiar RE/MAX First Choice

5 BHK Bungalows for Sale at Shrushti, Thaltej Area: Built Up: 3690 Sq.Ft. Plot: 2169 Sq.Ft. Home theater room 2 Car Parking, Garden Security, Park, Water Storage Private Terrace Only 9 Bungalow Scheme

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Call +91-85111 14115


Commercial Properties for Buy / Sale / Rent Ahmedabad Fully furnished corporate house basement+3 floor is available for sale, S G highway, bodakdev. Total Plot area of property is 6152 Sq.Ft and building comprising of Basement, Ground Floor, First Floor, Second Floor having total built up area 12304 Sq.Ft

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For sale 3 bhk commercial apartment of 1305 sq.feet.

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Contact :NishantChavda RE/MAX ADVANTAGE Plus

Main BRTS road touch. Presently used as commercial office.

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Contact: Munish Gupta RE/MAX DREAMZ

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Contact : Prashant Nair RE/MAX PLUS

Prime Location of IIM-Atira road New Commercial Building


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Commercial Properties for Buy / Sale / Rent Ahmedabad Road Side Office Space for SALE in New Bodakdev. Very useful Space Suitable for restaurant / Doctor Office / Multipurpose use. corporate office, call center, it space, saloon, high end educational/training institution, diagnostic center

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Residential Properties for Buy / Sale / Rent Ahmedabad Excellent 3BHK Semi-furnished Flat for sale in Bodakdev

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-2450 Sq. Ft. -Very well maintained society, -With servant room -A/c fixed in all rooms, -Very spacious rooms -Allotted parking

Luxurious 4BHK bungalows in satellite High-Class Independent 4 Bhk Bungalow on Sale in nice and peaceful residential area with Luxurious Furniture and A/Cs. All common amenities like hospital, schools, markets, malls, famous theaters are nearby this society.

Contact: Devansh Kothari RE/MAX SYNERGIES

3BHK Apartment for sale in posh locality of DharnidarDerasar and Lavanya society. 2 units on each floor. It is located in one the prime area of Ahmedabad city. Hospital, Schools, Colleges, Auda Garden, Restaurants and Food Courts, Religious places.

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Contact:Ashok Bhalani RE/MAX VINTRON GOLD

4BHK flat on sale at Corporate Road Prahladnagar

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Contact: Munish Gupta RE/MAX DREAMZ

4500 sq.ft flat on sale at Corporate road, Prahladnagar.Luxurious new Built scheme.


Call +91-9825800169


Real Estate Regulator Will Bring Oligopoly in the Sector - Manan Choksi With the Union Cabinet approving the Real Estate (Regulation and Development) Bill, the popular view is that it will help property buyers benefit and make the system more transparent. The real purpose of the bill is to give a reliability of the delivery of the project once it is launched. While the bill has its good intentions, precedents show us how such regulations usually eliminate the small builders completely.

Highlights of the bill: 1.

All residential projects having units that are more than 4000 sqmts will

size of 4,000 square meters to follow a

areas of the city. Usually the local builder

fall in the ambit of this regulation.

few rules. Now such a regulation would

association has about 2,000 small and

2. All projects to be launched only

actually harm the big projects and buil-

medium builders which are now dor-

after all the permissions have been

ders would try to divide projects and do

mant – due to slow market conditions.

received for the construction of the

smaller projects only. However, a few

The SME segment has already got the


factors like cost of construction, cost

burden of lack of reliable brand, inability

About 70% of all the money collec-

of marketing and the cost of providing

of having fixed salaried staff and inabi-

ted for the project has to be used

common facilities push builders to do

lity to invest in modern techniques of

only for this project.

larger projects only. The customer even-

construction. When such a builder wants

tually thinks that he should invest his

to scale up to large sized projects, he

hard earned money in a project which is

will need to comply with the regulator’s

regulated rather than an ‘unscrupulous’

provisions which will deter him further.


4. Projects to be sold on carpet area only. 5. Each state will have a tribunal for redressal of complaints. In the past India has seen regula-

builders’ unviable project. This breaks

We have seen in stock market that

the back of small builders, who survive

eventually all the small and medium

on a single scheme at a time.

sized IPO and brokers are eliminated


These days in a metro city there

from the market. It is said that SEBI regu-

ICAI. What each of the regulator has

is already a lot of consolidation with a

lations have closed more brokers than

undoubtedly brought in is the required

few names like Lodha, DLF, Hiranandani,

the slow market. So we have a handful of

“buyer benefit”. However, a side effect

etc. dominating the real estate sales

stock broking houses like MotilalOswal,

of such a regulator’s impact on the

market. Lodha claims sale of Rs. 10,000

Angel Broking, Share Khan, etc. who

market is consolidation. For example,

crores in the last fiscal which is more

own practically the lion’s share of the

the proposed real estate regulator in

than DLF’s sale of Rs. 9,000 crores in the

market. It is said that unless a broking

the new bill makes it compulsory for all

same period. In a Tier 2 city there are lot

house has 10,000 customers there is no

new projects which are more than the

of local builders operating in selected

viability to run the operation. Oligopoly


is the future of real estate sector, be it a builder or a broker. The proposed bill has a concept called “registered brokers”. Hence brokers are also going to fall in to the ambit of regulation, which until now has been totally out of regulation. Such regulations in other countries have streamlined the entire industry and have brought a lot of transparency. Brokers slowly adapt to the regulated world and start building their own brand. This indirectly regulates the secondary market also. Even the CREDAI (Confederation of Real Estate Developers Associations of

velopers and end users. Implementation

in both the houses in the monsoon

India) has ‘strong reservations’ according

of this Bill as it is will cause substantial

session. The bill most probably will get

to the Credai president C Shekhar Reddy.

increase in cost to buyers. In the long

passed uneventfully as officially only

He has expressed his concerns about the

run the bill has the potential to actually

the state of Chhattisgarh has opposed

License Raj re-entering the real estate

shatter the government’s initiative of

it. So the regulator will actually cause

world and unnecessary victimisation of

‘housing for all’ at affordable rates.

‘irregulations’ as it is not conducive to

members. It is important that the Bill

Right now the cabinet has passed

the small time brokers and is quite lop-

maintains equilibrium between the de-

the bill and it is scheduled to be tabled

sided in approach. Oligopoly seems to



Ahmedabad Real Estate Market: A Major Realty Destination

Ahmedabad, business capital

ket of Ahmedabad, by 3.5% in the past

Ahmedabad is attracting invest-

of Gujarat, is the fifth largest city and

six months. Genuine housing projects

ments not only from India but from

seventh largest metropolitan area in

with equipped amenities have facilita-

foreign countries as well. The capital

India. It is located on the banks of Sa-

ted the Real Estate sector of this city.

value for the real estate in Ahmedabad

barmati River. The city of Ahmedabad

With multifold infrastructural develop-

in terms of the residential properties

has a flourishing textile industry, and is

ments in every sector, the Real Estate

is easily affordable unlike other tier II

sometimes called the Manchester of the

Sector of Ahmedabad is booming.

cities in the country. The presence of

East. The Times of India chose Ahmeda-

Some of the best localities to invest

the superior infrastructural facilities and

bad as the best city to live in India, in the

in Ahmedabad include Ashram Road,

strategic location of residential proper-

year 2012. The city is beautifully planned

CG Road, Navrangapura, Chandkhede,

ties drive investors towards Real Estate

and has a lot of free land. With constant

Motera, Ghodasar, Isanpur, Hansol ,Na-

Market in Ahmedabad.

growth in trade & commerce and the

roda, Bodakdev, Makarba, etc. The wes-

Numerous upcoming integrated

establishment of various industries, col-

tern part of the city is posh; it includes

township projects across the city as well

leges and firms in the city, Ahmedabad

areas like Ambli, Bopal, Solagam, Thal-

as the suburban areas ensure the conti-

Properties are generating huge demand

tej, Shilaj Road, Vastrapur, Ambawadi,

nuity in the boom of the Real Estate Mar-

in the country’s Real Estate Market.

Prahaladnagar, Bodakdev and Jodhpur.

ket in Ahmedabad. Healthy economic

The National Housing Bank Index

Those in pursuit of lavish, spacious

growth and infrastructural urbanization

of the Reserve Bank of India, commonly

homes must scan these areas out, and

have contributed to position the city of

known as, the NHB Residex demons-

this should be done quickly for prices

Ahmedabad as one of the major realty

trates a price hike in the Real Estate Mar-

may escalate sharply very soon.



Vastu Tips for your Office entry:

information associated with all of data items. 2. The best way to manage so many emails that you receive every day is to segregate them in to two folders, “Pro-

1. Best entry for office is North entry going to South. A

cessed” and “To Process”. 80% of the emails you receive

Zero degree north entrance is the most coveted entry

are just for information and you are in CC. So after you

by Vaastu Standards.

read that email, you have to file it in “Processed” folder.

2. Second best entry is east going to west. 3. The office with west entry should be in the name of female.

put in “To Process” folder. 3.

4. South Entry is not recommended. is

You can write down all your to do things in

Tasks. It is very good way to remember a list of things to do and you can tick them off once its done. The done

5. South west entry office

Any email which requires action to be taken, have to be


at all good.

items are automatically hidden so it doesn’t clutter your viewing area. 4.

Contacts are not just email address or

Such an office

phone numbers. You can put address, birth

should change

date, all kinds of numbers, picture of the

its entry or

contact and also write notes about the contact.

change the office. 6. The North or East


Calendar is very important tool to manage

your day. If you have appointment with someone, you can invite him to the meeting sending him an

entry should have a

email automatically from this interface. The best part

Ganesh tile at the top of the

is that if he accepts the meeting, his calendar is auto-


matically blocked for that time.

7. The South or West entry should have Hanuman tile at the top of the door.

6. Use a good image for your email signature. Each

Technology Tips

of the emails will become a marketing of your brand. This will help you get free advertising


your brand. 7. There is a Social Connector which puts the senders photo from a social media website like Facebook along with their email. So easier for you to recollect who has sent the email. 8. You can configure multiple email accounts and get all Outlook Tips to increase your productivity

the emails access from one place. You can also send email from all such accounts and you can associate a


Microsoft Outlook is not just an email client, but it is also a PIM (Personal Information Manager) which records your meetings, tasks, notes, contacts and a lot of other


different signature with that email address. 9. Last but not the least archive and backup your folders regularly


5 Important facts about home loans Though most of us avail home

2017, in the next 5 years. Total limit for


loans, there are a few facts about them

this exemption will still be Rs. 1.5 lakh

Loan taken from family and friends

which are worth knowing. Let’s take a

per year.

look at two simple questions: 1. What are the available tax de-

Under Section 24, you can claim

The above example explains the

up to Rs. 1.5 lakh per year of interest

real scenario. Therefore, you cannot

on your loan. You will be able to claim

claim the interest but deductions can be

this even if you want to take it from

claimed later on in 5 equal installments

your friends, parents or any other indi-

for next 5 years starting from the year in

vidual. However, in order to be eligible

which property is acquired or construc-

for claiming the principal amount under

ted. This tax deduction is available only

Section 80C, you need to avail the finan-

if the construction is completed within

cial lending from some bank or financial

3 years from the end of the financial year in which capital is borrowed. ductions for your under-constructed house?

Extension or renovation of your house

2. Do you still get tax benefit from

If you are taking a loan for exten-

your home loan, if you have taken it

ding or renovating your existing house,

from a friend and not from a bank?

you can only claim the interest amount

Many of you might not be having

under Section 24 and not the principal

answers to these questions. To realize

under Section 80C. However, the limit

that one is ignorant is a great step to

in this case is only up to Rs. 30,000 for

Additional tax Deduction of Inte-

knowledge. So let’s try and explore

owner-occupied properties. If it is a

rest on loan taken for residential House

these new dimensions of home loans:

rented or leased property, or a second

property (New Section 80 EE)

Tax deductions for underconstructed houses Do you know that you should have


home which is not a self-occupied pro-

In addition to deductions mentio-

perty, no maximum limit has been pres-

ned above, deduction in respect of inte-

cribed in this case and the tax payer can

rest on loan taken for residential house

take tax deduction of the whole interest

property is allowed up to Rs. 100000/-

a certificate of ownership and posses-

amount under section 24.

for the loan that has been sanctioned

sion of the house to claim tax under

Selling a house serving home loan

by the financial institution during the

Section 80C? Without complete and

If you sell your house within 5

period beginning on 01st April, 2013

proper analysis, investors presume that

years from the date of buying, all the

and ending on 31st march, 2014 sub-

they can claim for tax deductions of

tax benefits which you have claimed

ject to certain conditions mentioned in

their houses which are under construc-

under Section 80C will be added in your

the section.

tion and go ahead with the loans.

salary in the year of sale and termed as


Let’s take an example. Say Mr

Knowledge is power. Knowing


Gupta bought a house on loan on 25th

For example, if you bought a flat in

these less-known facts about home

November, 2009. He paid a total sum

July 2011 and in next 3 years you have

loans will help you take better deci-

of Rs. 5 lakh as interest in the next 3

claimed Rs. 2 lakh under Section 80C,

sions. Informed decisions lead us to

years and obtained possession on 19th

this amount will become your income in

better results. And better results lead

November, 2012. He could claim this Rs.

the financial year in which you sell the

to progress, productivity and prospe-

5 lakh of interest in equal installments,

property and will be taxed accordingly.


which is 1,00,000 per year from 2013 to

However, the interest component is not


Real Estate Maximum - Oct 2013  
Real Estate Maximum - Oct 2013  

Real Estate Maximum – A Real Estate Magazine is a monthly series of trends and forecast publication that reflect the views of leading real e...