PROPGUIDE − A Complete Property Guide
#happyhome

#RealtyNewsRoundup: Jail For Bank Account Violations, Warns Taxman

Loading video...

Description

Realty News Roundup is PropGuide’s selection of the day’s top stories from the real estate sector.

In the wake of people depositing their unaccounted old currency in someone else's bank account, the income tax department has decided to slap charges under the newly enforced Benami Transactions Act where violators can get a jail term of up to seven years. A countrywide operation has been initiated to identify suspect bank accounts where huge cash deposits have been made since demonetisation.

The property tax department of the Pimpri-Chinchwad Municipal Corporation has had a windfall of over Rs 30 crore in the last 10 days. Post-demonetisation, the department has mopped up tax and arrears to the tune of over Rs 30 crore as over 17,000 citizens made payment using old currency notes. The state government has allowed citizens to pay their municipal taxes using old notes till November 24.

Karnataka ministers have mooted an exclusive housing plan called The Legislature Township which is likely to come up on a 100-acre plot near Whitefield in Bengaluru. The first-of-its-kind in the country, the township will not only give independent houses to MLAs and MLCs but also provide accommodation to officers attached to the legislature.

The government has issued provisional orders to attach properties worth over Rs 18,000 crore for offences under the money laundering law. Union Minister of State for Finance Santosh Kumar Gangwar said in Lok Sabha recently that a host of initiatives had been taken, including effective enforcement of law, to curb money laundering in the country.

The Delhi Development Authority will unveil a new housing scheme early next year, under which nearly 13,500 flats will be put up for sale. Most of these houses are one-bedroom accommodations surrendered by the allottees of the 2014 project.

 

Source: Media  reports

Tags: Delhi Development Authority, DDA, Video, propguide, Benami Transactions Act, Union Minister of State for Finance Santosh Kumar Gangwar, Whitefield in Bengaluru, old currency notes


#RealtyNewsRoundup: Want To Bring Down Your Home Loan Cost? Insurance Could Be The Key

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

February 13 2017

+ Click Here To Read This Article

#WeeklyRealtyNewsRoundup: Circle Rates Hike In Noida To Be Restricted To Premium Areas

Here are the week's top news stories from the real estate sector.

July 30 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: BMC To Survey All Mumbai Properties

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

June 30 2016

+ Click Here To Read This Article

Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

+ Click Here To Read This Article

DDA To Auction Vacant Land Parcels. Why This Matters

The Delhi Development Authority has decided to auction land parcels in densely populated areas of the city to protect its vacant land parcels from encroachment. PropGuide on why is this important.

October 12 2015

+ Click Here To Read This Article

5 Creative Eco Resorts Around The World

If luxury housing are eco-friendly then what else could you want? It's like having your cake and eating it too!

May 04 2015

+ Click Here To Read This Article

#WeeklyRoundup: Union Budget 2017 Aims To Boost Affordable Housing [Video]

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

February 04 2017

+ Click Here To Read This Article

#RealtyNewsRoundup: Taxmen Issue Notices Under Benami Act In Nationwide Raids  [Video]

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

January 31 2017

+ Click Here To Read This Article

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

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

Confused about the the difference between carpet area, built-up area and super built-up area? Here...

Pune real estate market is bustling with development of under construction as well as ready for...

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