Charges Received from members by Society are not taxable under Income Tax

By Accommodation Times Bureau ITO vs. Venkatesh Premises Co-op Society Ltd (Supreme Court) Principles of Mutuality: Receipts by housing co­-operative societies such as non­-occupancy charges, transfer charges, common amenity fund charges and certain other charges from their members are exempt from income-tax based on the doctrine of mutuality. The fact that the

4 million houses sanctioned till now under credit-linked subsidy scheme

By Accommodation Times Bureau NEW DELHI, 16 March 2018: Minister of State (Independent Charge) for Housing and Urban Affairs, Mr. Hardeep Singh Puri, said here today that out of the required 12 million houses by 2022, nearly 4 million houses have already been sanctioned under the Pradhan Mantri Awas Yojana (PMAY).   Speaking at the Conference

Kuwait Investment Forum 2018 to showcase over $100 bn in potential investment opportunities

By Accommodation Times Bureau Kuwait, March 19, 2018: The State of Kuwait is rolling out investment partnerships and strategic investment opportunities valued at more than $ 100 billion in key economic and social sectors for investors that include information & communications technology, oil & gas, renewable energy, electricity & water, urban developments

Fund released by Centre under Smart Cities Mission and utilization by States/Cities

By Accommodation Times Bureau Utilization certificate for the 2nd instalment of the funds are submitted by the cities after utilization of a substantive amount of funds from the 1st instalment.  While a number of cities have started project implementation on ground their utilization certificates are awaited. Hence, utilization certificate may not be an

NAREDCO Signs MoU at Magnetic Maharashtra

By Accommodation Times Bureau MUMBAI, 19 FEBRUARY 2018:  In a step towards fulfilling the initiative of ‘Housing for All by 2022’, the Maharashtra State Government and National Real Estate Development Council (NAREDCO) signed a Memorandum of Understanding (MoU) during the ‘Magnetic Maharashtra: Convergence 2018’, which will provide 3 lakh Affordable houses in the

Supertech Ltd to develop jam projects of other builders

By Accommodation Times Bureau NEW DELHI     A Noida-based realty firm Supertech is looking to expand its business and has decided to take up stuck projects of other builders. To develop a housing project in Gurgaon it has tied up with Gurgaon based developer Gold Souk. Mohit Arora, Managing Director of Supertech said, "There are

Tamil Nadu’s registration dept returns to offline registration of land

     By Accommodation Times Bureau  CHENNAI     The Tamil Nadu's registration department has returned to the manual process for registration of property documents.  The authority two days after launching the online process it switched to manual registration. On Wednesday people complained that they faced difficulties in the online process. Authority officials said a server had slowed

Rs 12 Lakh fined on Mumbai’s Kabra and Associates for advertising unregistered projects

    By Accommodation Times Bureau MUMBAI   Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Kabra and Associates to pay penalty of Rs 12 Lakh for advertising unregistered projects.   After the complaint filed by Mumbai Grahak Panchayat (MGP), The authority came into action and fined Rs 12 lakh on the firm for  violating sections 11