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Policies & Notifications

HOUSING AND URBAN DEVELOPMENT POLICY IN INDIA

National Urban Housing and Habitat Policy aims at Urban Planning by concerned state bodies to periodically update the Master Plans and Zoning Plans, promoting balanced urban-rural planning and plan Mass Rapid Transport System. Affordable Housing by creating adequate housing stock, by using technology for modernizing the housing sector for enhancing energy and cost efficiency, productivity and quality, both on rental and ownership basis with special emphasis on improving the affordability of the vulnerable and economically weaker sections of society through appropriate capital or interest subsidies.

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TAX AND REGULATORY ENVIRONMENT

Housing is a basic necessity of life, next only to food and clothing in importance. Apart from shelter, home ownership also serves to fulfill many other fundamental objectives viz. raising the quality of family life in terms of health, education and sanitation. Home also serves as an asset that can be collateralized in times of need generating a sense of physical and emotional satisfaction and achievement. At the macro level, housing generates considerable employment and dispersed economic activity.

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Taxes and Stamp Duty Rates

Stamp Duty applicable on registration of property in the State of Uttar Pradesh:

Stamp Duty (for transfer of property) is payable @ 7% on the higher or the Contracted Value or the Circle Rate for the concerned property is payable. Female transferees are entitled to 1% concession on value only up to Rs. 10 lacs out of the total value of the transaction.

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Central laws governing Real Estate in India

Much of the over 100 laws governing various aspects of real estate dates back to the 19th century. Despite the plethora of laws, the situation appears to be far from satisfactory and major amendments to existing laws are required to make them relevant to modern day requirements. The Central laws governing real estate include:

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Ministry of Finance Office- order no 1/2010 on service tax

The government of India confronts and deals with the financial affairs of the country through its ministry of finance. It considers the matters of taxation, central & state finances, union budget, financial legislation, capital markets and financial institutions. The finance ministry of India is presently in the hold of Mr. Arun Jaitley.

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Discussions to bring more transparency in plan approval relating to realty sector

For transparency and speedy approval of plan:

Consents required while one purchases a land: whether exterior or within city limits, non-agro or agro land.

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Contact

Contact Info



Address: Mr. Sudhanshu Vadera (Additional Director)
5th Floor, 507 Eldeco Corporate Tower, Vibhuti Khand, Gomti Nagar, Lucknow, UP (India)


Phone No: +91 522 431 5550

Mobile No: +91 9651095555

Email: credaivaderasudhanshu@gmail.com, upredco@gmail.com, credaiup@gmail.com
 

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