Only business premises offered on lease are subject to the Goods and Services Tax (GST). Nevertheless, under a new law that went into effect on July 18, a GST-registered renter (including people and corporate organisations) is obligated to pay 18 percent tax. Will it have an effect on the rental of residential properties? Let us investigate! … Read more
What exactly is considered let-out property?
A person’s name can have numerous qualities. He can engage in residential buildings to get a steady income from rents. According to the income tax rules, only one of the homes may be designated residential for self-occupancy, while the others can be rented out. If the other properties are not occupied, they are referred to be presumed let out or rent out properties.… Read more
Mumbai: BKC office leasing accelerates
Mumbai‘s office leasing market has recently gained speed. This month, there have been several, exorbitant price offers in the central business district’s (CBD) Bandra-Kurla Complex. Avendus Capital has agreed to lease a 1 lakh square foot space atop the Platina Tower, while Mahindra & Mahindra Financial Services has also leased a 2,75,000 square foot space in the surrounding region. Return to the workplace and extensive recruiting should also increase demand inside the city.… Read more
Why is an 11-month rental agreement made?
Tags: Realty GuideRental
Many laws will take effect if the lease term is changed from every other month to, say, twelve months, complicating the process for both the renter and the owner. No matter how long the owner is likely going to keep his possessions free, the rental period is kept at eleven months to avoid situations like this one. Then, for every subsequent period, this arrangement is renewed. By using all the events, many hassles are avoided in this manner.… Read more
How to negotiate a rent increase with your landlord?
Mahesh Singhal pays higher rent each year to live in the same residence in North Delhi. Despite living in the same property for almost seven years, he has yet to find a method to bargain with his landlord, who hikes the monthly rent by 10% every year as is customary.… Read more
What is a lease deed and how does it vary from a rental agreement?
The owner of commercial property frequently lends it to a third party in exchange for money. To establish a shared basis, a legal agreement is created and signed by the property’s owner or lessor and renter or lessee. This is referred to as a Lease deed. Here’s what you should know.… Read more
Rental Agreement Provision Regarding Security Deposit
A rental deposit clause is one of the many important provisions in the agreement between the owner, or anybody authorized by the owner and the tenant, regarding the condominium.… Read more
GST on residential rent to depress the demand for rental accommodation
According to real estate experts, the Goods and Services Tax on residential projects may cause a slight decline in housing demand or apartment prices, but the market may eventually adjust to the new tax laws. Since July 18, residential rents have been covered by the Internet of Goods and Services Act. Tenants may also be required to pay GST using a different rate structure than the government.… Read more
Rent is subject to GST
Renting your home is seen as an augmentation of service under the tax system. The Goods and Services Tax (GST) law, which was implemented in July 2017, now applies to rental revenue. Under the GST framework, rent is now considered a taxable provision of service.… Read more
Why is a rental agreement made for 11 months?
You must have signed a rent agreement if you have ever leased property or lived in a rental home. Have you ever wondered why the majority of rental agreements last for 11 months? Frequently, neither the landlord nor the renter, nor even the real estate brokers, are aware of the reason behind this. Let’s investigate.… Read more
