Luxury Kerala Flats

Venturing into real estate with your first purchase of a flat in Kerala? As the buyer  you have some rights and liabilities! A real estate deal for a property is a complicated  process regulated by various Central and State Government laws. The Transfer of Property  Act in India is one of the main laws that govern property transfer.  The leading real estate web portal, luxurykeralaflats.com gives you an insight on the  major rights and responsibilities of a property buyer in India as stated by the Act. Increase in Value After the luxury flat for sale in Kerala transfers ownership from seller to buyer, the  buyer has the benefit of any improvement or increase in value of the property, and to the  rents and profits from the property. The seller will have no claim on the benefits. Proper Delivery of the Property When purchasing a flat in Kerala, the buyer has the right to proper delivery of the  title and possession of the p...

New GST rates have come into effect for residential real estate right from the 1 st of April 2019. The GST is to be charged at 5% without Input Tax Credit (ITC) on residential properties that are not part of the affordable housing segment and at 1% without ITC on residential properties that are included in the affordable housing segment. For under-construction properties 12% GST is to be charged while it does not apply to the sale of completed properties (where completion certificate has been issued) or to the resale of old properties. Under GST, construction costs are significantly reduced for the developer as multiple taxes are not there and due to the availability of input tax credit. A reduction in the cost of logistics will be an added benefit. Hence developers may see improvement in margins. Builders receive an input tax credit on the materials purchased from suppliers/contractors and under the current GST structure pass it on for the home buyers to profit. As this has no...