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ABOUT REAL ESTATE

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Real Estate is property consisting of land and the buildings on it,along with its natural resources such as crops,minerals or water,immovable property of this nature,an interest vested in this an item of real property. Also,the business of real estate,the profession of buying,selling,or renting land,buildings,or housing.It is a legal term used in jurisdiction whose legal system is derived from English Common law,such as India,UK,USA,Canada,Australia and New Zealand.
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Budget 2018 allows property valuation up to 5% below circle rate: Realty buyers, sellers to benefit

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The circle rate is the minimum value at which sale or transfer of plots,  built-up houses, apartments or commercial property can take place.  Budget 2018 has proposed a tax relief for buyers and sellers of property by allowing it to be valued at up to 5% below circle rates for calculation of stamp duty and capital gains tax.  The finance minister presenting the Budget 2018 announced that no adjustment shall be made in respect of transactions in immovable property, where the Circle Rate value does not exceed 5 percent of the consideration.  Ashish Jindal, Co-Head, Real Estate, Sanctum Wealth Management says, "In major cities, the circle rates were increased and had become more than the market rates. This resulted in a gap between the two rates, which was counted as income in hands of both buyer and seller. Hon'ble Finance Minister has given a big relief by allowing upto a 5% gap between the two and this has the potential to remove the irritant and re...
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