#RealtyNewsRoundUp: Maharashtra To Levy 1% Surcharge On Property Transactions
Description
The Maharashtra government has proposed to levy one per cent surcharge on stamp duty on all property transactions which will increase the burden on homebuyers. The state government published draft of the Mumbai Municipal Corporation (Second Amendment) Act, 2018, and inserted of Section 144 F to impose the levy on sale, lease, gift and mortgage.
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The much-awaited Barapullah Phase-II project will be opened for public use on July 28. Delhi Chief Minister Arvind Kejriwal will inaugurate the new two-kilometre stretch of the elevated corridor, which will reduce the travel time between Sarai Kale Khan and Aurobindo Marg by 20-25 minutes.
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In a recent order, the Bombay High Court has ordered that registration of a co-operative housing society cannot be cancelled on the ground that some of its members have carried out unauthorised constructions within their respective flats.
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Income tax (I-T) officials will intensify their focus on tax deducted at source (TDS) in relation to sale of property by non-residents and other international transactions. Surveys will also be carried out for detecting non-compliance with obligations regarding withholding tax.
Source: Media reports
