#RealtyNewsRoundup: Buyers Of Under-Construction Flats May Get Tax Relief
Realty News Roundup is PropGuide's selection of top stories from the real estate sector.
The Delhi High Court has ruled that home buyers cannot be charged service tax on payments made towards the purchase of under-construction apartments from developers, if the total value of an apartment includes the land value. However, service tax can still be levied on preferential location charges (PLC) that developers take from buyers. The court also said that if the developer had already collected service tax, buyers would be refunded the amount with a six per cent rate of interest by the revenue department. Read more
A construction company in Thiruvanthapuram has filed an FIR against Congress president Sonia Gandhi alleging that her party has not cleared its payment for constructing the Rajiv Gandhi Institute for Development Studies. The FIR also names former Kerala chief minister Oommen Chandy and former state home minister Ramesh Chennithala as accused. Read more
The construction of 288 houses under the Rajiv Awas Yojana (RAY) has started at Dhobabandh in south Odisha. Berhampur MLA R C Chyaupatnaik said the scheme aimed to develop a slum-free India, where every citizen had access to basic civic infrastructure, social amenities and shelter. Those who lost their houses in the 2013 cyclone would be covered under the scheme. Read more
A Dutch architect recently unveiled a unique 3D printer with which he aims to construct a large building "without beginning or end". Architect Janjaap Ruijssenaars said he wanted to build a "landscaped house" using the machine that is shaped like an infinite loop. The two-metre-long machine has been set up in a warehouse in Amsterdam, where the final tests are being carried out. Read more