PROPGUIDE − A Complete Property Guide
#happyhome

An Explainer: Work Order

Loading video...

Description

In the world of business, the term work order would simply mean an order placed by an entity for availing of certain services or buying products for a company. For instance, if you are a small textile business, you might place an order with a handloom company to supply you 1,000 hand-made saris. The arrangement under which the supply will take place will be called work order.

In real estate, while the original meaning of the term remains the same, there is a small catch. Some developers make you sign a property sale agreement along with a work order. In the work order, they include the cost of several furnishing and fittings that they would incur during the construction process. Most buyers might not be aware of this, but if you sign a work order with your developer, the stamp duty and value-added tax charges on your property go up. From a buyer’s point of view, it is better if they sign just one sale agreement and avoid making the work order a part of the deal. 

For regular updates on real estate, click here

Tags: Real Estate, Stamp Duty, developers, Video, VAT, propguide, Sale Agreement, Work Order


#Budget2017: Affordable Housing To Get Infrastructure Status

After Finance Minister Arun Jaitley presented the Union Budget 2017-18, Prime Minister Narendra Modi said the housing sector stood to gain immensely from the new announcements.

February 01 2017

+ Click Here To Read This Article

#Budget2017: Regulation Of Construction Material, Reducing Construction Cost Are The Key Areas To Focus On

Housing for All by 2022, act as a major driver for the upliftment of construction industry. in the upcoming Union Budget 2017, any policy announcements in infrastructure and industries will directly benefit the construction industry too, which is at present seems positive.

January 19 2017

+ Click Here To Read This Article

NRI Investments In Indian Real Estate: How To Get This Right?

With the government keen on strengthening Indian economy including investments, the process of investing in the real estate sector will become easier for NRIs. So if you are planning to invest, read what would be the dos and don’ts.

July 29 2015

+ Click Here To Read This Article

#Budget2017: Real Estate Sector Demands Simple And Effective Norms

One of the major announcements was of the Real Estate (Regulation & Development) Act 2016 (RERA), which is expected to be profitable for both customers as well as builders, will bring about a great deal of transparency.

January 31 2017

+ Click Here To Read This Article

#Budget2017: Top 5 Wishes On A Real Estate Developer's Mind

One of the country’s largest contributors towards Gross Domestic Product (GDP) and employment generation, real estate sector, is extremely hopeful for a positive Budget 2017-18.

January 17 2017

+ Click Here To Read This Article

Solar Rooftops Could Help You Cut Down Energy Bills. Know How

Increased urbanisation and rising incomes are expected to result in an exponential growth in housing. Replacement of diesel generator (DG) sets with solar rooftops in residential housing complexes would be vital to achieve the determined target of installing 40 GW rooftop solar power capacity in India by 2022.

January 11 2017

+ Click Here To Read This Article

An Explainer: Absorption Rate

PropGuide simplifies complex real estate jargons for you.

October 19 2016

+ Click Here To Read This Article

An Explainer: Amenities

PropGuide decodes complex real estate jargons for you.

May 04 2016

+ Click Here To Read This Article

Central government has come out with a plan to give a push to Transit Oriented Development Policy...

Here are today’s top news stories from the real estate sector.

Real estate stakeholders are adhering to all possible routes to attract property buyers and bring...

In their eagerness to do everything right and with an open mind, home buyers often turn vulnerable...

Goods And Services Taxes (GST): The Rajya Sabha on Wednesday passed the Constitution Amendment Bill...

 Union Budget 2017-18 is being presented by Finance Minister Arun Jaitley today. This Budget...

If you are looking for properties for investment that will see quick appreciation in prices,...

A positive move, provisions for capital gains tax stands tweaked, much to the benefit of the...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Sunil Mishra, Chief Business Officer, PropTiger, talks on new online realty platforms for NRIs.

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query here


Top