FIVE HOME DECOR IDEAS THAT WON'T COST YOU A THING

You don't need to spend a fortune on making your home look in the same class as the houses you see on TV appears. There are huge amounts of shabby and simple approaches to transform the insides of your home into a masterpiece.

When you choose that your home needs some interior rebuilding, you may quickly consider how costly and debilitating it will get. In any case, think about what, you don't have to take seven days off and re-try the entire house starting with no outside help.

Indeed, we at Quikr trust that anybody can turn into a specialist in taking advantage of those plain white dividers or that unremarkable looking room.

All You Need Is A Little Color

It's an ideal opportunity to take out those extra paint jars from capacity. Because the dividers are as of now painted does not imply that you can't make your rooms much more delightful.

Utilize the paints to do up the sides of your bureau drawers, the vase that is feeling the loss of its sparkle, and possibly paint a few plates and hang them up on the divider to give your front room that aesthetic look.

Broken, And Still A Thing Of Beauty

Rather than discarding broken furniture, family unit things, and gems, breath life into them back utilizing these astute hacks.

• Broken bassinets can be utilized as imaginative tables for kids. Basically take off one side of the bunk, paint the "table best", and introduce a couple of racks for provisions.
• who at any point thought smashed ceramics and vases had to be discarded? Include some gold or silver shading to pitch and utilize this blend to stick them back together.
• Before you hurl that broken hoop into the junk, think about all the stunning ways that small dull piece can add to your home decor. Stick a magnet behind the knickknack and utilize it as ostentatious ice chest bling!
• Nobody needs a split photograph outline lying around in the house, however don't discard it! Tie or stick two or three strings between the edge and transform it into a kitsch stud holder. This is an unquestionably simple approach to look chic.

Old Toys Are Now Showpieces

No more grumblings about venturing on stray Lego pieces and old toys jumbling storage rooms. This is the niftiest method for transforming your insides into something that your neighbors won't quit discussing.

The hands of little lego figures are the perfect size to hold little links set up. Paste these adorable minimal smaller than normal figures to the sides of an examination table or a TV stand, and wonder about how little things can have any kind of effect in the way your home looks.

You can likewise utilize old, exhausted tennis balls as improvised key or envelope holders. Set them up in advantageous places all through your home.

all the more appalling looking wires, not any more tangled links, and not any more lost keys.

Utilize Leftover Wrapping Paper For A Fancy Look

An excessive number of remaining present wrapper comes in the house after Christmas? Transform that old-looking bookshelf into something intriguing by fixing it with blessing wrap. A couple of minutes' work and now the insides of your room have been lifted.

My Pleasure.

Blessing wrap can likewise be utilized as placemats, particularly for extraordinary events like gatherings or easygoing meals. Blend and match the blessing wrap placemats with your cutlery to liven up the feasting table.

A Wall Of Fame

In vogue cowpoke caps and those ever-sharp Michael Jackson ones need to be purchased each time you see them in light of the fact that, obviously, all the cool children have a pack. In any case, the pitiful truth is, we wind up hoarding these cool-looking, yet scarcely utilized accomplices to assemble tidy in organizers.

In this way, here's the way you can at long last put each one of those caps to great utilize: energize hall dividers by hanging these up. Hotshot every one of those fedoras and trilbies by hanging them on nails or individual snares.

You can likewise spruce up your divider by transforming it into a stroll down the world of fond memories utilizing photos without the casings. You can mastermind them in any shape you'd like or simply have a ton of fun making a strange photograph arrangement.

Glad Thinking Back!

Tidying up and updating your insides gets less demanding and less expensive with these hacks. Is it accurate to say that you are prepared to go past these thoughts? At that point come look at the different home decorations and different administrations that will most likely prove to be useful.

RESIDENTIAL PROJECTS WAGHBIL THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in 

FITCH RATINGS SEES 'NEUTRAL' IMPACT OF GST ON REALTY SECTOR

Ratings agency Fitch Ratings expects the impact of implementation of Goods & Services Tax on real estate sector to be neutral.

Property developers will be subject to a final effective Goods & Services Tax rate of 12% on property sales, because the tax authorities will assume that land costs consist of one third of the sales price for which the 18% GST rate will not apply.

This will still be 7.5% points higher than the former 4.5% effective sales tax. However developer's ability to claim input tax credits will also increase with the imposition of GST, because input credits can now be claimed against steel and cement, which are key raw materials.

"The impact of GST on property prices will not be significant if developers pass on these benefits to customers – we expect home prices to rise by no more than 1%-2% if the benefit of lower costs is passed on. The higher end of that range would apply to developers which cater to higher-income customer segments, where land prices are higher and profit margins wider," Fitch Ratings said in its report.

0Fitch expects the impact of GST on property sales also to be limited because the tax will only apply to sales made after 1 July 2017, whereas most large homebuilder’s FYE18 (March 2018) revenue and cash flows will stem mainly from sales made before that.

Furthermore, sales contracted after 1 July off new projects should not be affected because developers should be able to reflect the impact of GST in new construction contracts. However, sales contracted after 1 July from existing projects – i.e. where construction is underway – may have to reflect the full 7.5% price increase stemming from GST, because renegotiating existing construction contracts with contractors may prove to be challenging.

The ratings agency believes that property sales will weaken for one to two quarters as a result, but we expect sales to normalise beyond that time frame. Over the medium term, developers may be encouraged to pass on the cost benefits to customers to comply with the anti-profiteering clause introduced in the Central Goods and Services Tax of 2017.

It expects that developers may also choose to pass on cost benefits to customers to try and limit a prolonged slowdown in property sales, in an industry where demand/supply fundamentals are already weak.

Among rated companies, Indiabulls Real Estate Limited (IBREL, B+/Stable) has some headroom in its rating to weather a longer-than-expected weakening in sales, and this is reflected in Stable Outlook. Lodha Developers (B/Negative) has limited rating headroom because of leverage which is already high, and this is captured in our Negative Outlook, Fitch added.

RESIDENTIAL PROJECTS WAGHBIL THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 

Source: CONTENT.MAGICBRICKS.COM

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in 

CHEQUE ENCASHED BY BUILDER AFTER I-T RETURN DEADLINE? YOU CAN STILL CLAIM TAX EXEMPTION, SAYS TRIBUNAL

In a relief to many flat buyers, the Income-tax Appellate Tribunal recently held that if a cheque is encashed by the builder after the deadline for filing income-tax return, it will not debar the taxpayer from claiming I-T exemption available on reinvestment of long term capital gains (LTCGs) in RESIDENTIAL PROPERTY.

Tax experts say this does not apply to post-dated cheques. Builders typically ask for post-dated cheques, if a flat is booked during the construction stage.

If a taxpayer makes a profit on sale of a residential house s/he has held for two years (the 2017-18 budget has reduced the holding period from the earlier three years), it is treated as an LTCG, which is taxable at 20% with an adjustment for inflation, referred to as indexation benefits.

But, if a component of LTCG is reinvested in another house in India within two years of the sale of the original house, the taxpayer can claim a tax exemption under section 54 of the I-T Act. Consequently, the taxable component of LTCGs is reduced to the extent of the reinvestment, which results in a lower tax outgo. In case the amount is not reinvested by the due date of filing I-T return, the taxpayer has to deposit it in a separate bank account under the capital gain account scheme.

The ITAT heard the case of Akansha Ranju Pilani who had earned Rs 1.6 crore on sale of property on August 2, 2011. He purchased another residential property on July 26, 2012 for Rs 2.75 crore and claimed tax exemption. While he had issued several cheques for the purchase price to the builder on the date of the agreement, cheques for Rs 62.21 lakh were encashed by the builder after the expiry of the date for filing the I-T return.

The I-T officer held that as the unutilised amount of Rs 62.21 lakh was not deposited in a separate bank account, to this extent the tax exemption claimed by Pilani should be disallowed. The taxpayer that "once cheques have been issued, his liability is fulfilled and it constitutes utilisation of the sale proceeds of the old house."

He pointed out that the cheques were issued to the builder on July 26, 2012, prior to the due date of filing the I-T return, which fell on August 31. The ITAT thus decided in favour of the taxpayer.

"This decision relies on a tenet set by the Supreme Court that the date of payment in case of a cheque is its date of delivery. On encashment by the recipient the payment is complete, but it relates back to the date of handing over of the cheque (or delivery date)," explains Gautam Nayak, tax partner, CNK & Associates.

However, Nayak sounds a word of caution. "If post-dated cheques have been given to the builder, then the taxpayer should ensure that the unutilised sum is deposited with a separate bank account before the due date of filing the I-T return. In such cases, the date of delivery will be the date mentioned on the cheque."

2 AND 3 BHK FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

Source: MAGICBRICKS.COM

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in 

REAL ESTATE, CONSTRUCTION TOP EMPLOYMENT GENERATORS IN APRIL: REPORT

The construction and real estate industries are generating employment demand for skilled workforce as the sectors are gearing up for growth following the government's agenda of providing affordable housing to people, a report said.

While the overall talent demand was up by three per cent during April 2017, real estate posted a 7 % rise in talent demand and the construction sector saw a 6 % rise in demand, according to the latest RecruiteX, the recruitment index by TimesJobs.

"Our RecruiteX report reflects the growth of the Indian middle class and their rising purchasing power, which has converted the dream of owning a home into tangible demand for affordable housing. When coupled with Prime Minister Modi's drive to create a business-friendly environment, drive real estate growth, and create jobs, the sector is on a hiring spree to take advantage of the next growth wave," TimesJobs Business Head Ramathreya Krishnamurthi said.

While construction and real estate were the top hiring sectors during April 2017, logistics, petrochemicals, IT, telecom and BFSI also hired significantly during the month, it said.

Business managers, consultants, hospitality, logistics and BFSI professionals reported significant rise in demand, it added.

The report said, among key locations, while Bengaluru and Pune posted the maximum rise in demand, Ahmedabad and Indore were the top hiring among the non-metros.

When it comes to states, Maharashtra (excluding Mumbai and Pune) posted a five per cent rise in demand, it said.

Hiring gained momentum for experienced professionals while it dropped for freshers, it said.

Candidates having over 20 years of experience posted the highest rise in talent demand in April 2017, it added.

3 BHK FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 

Source: MAGICBRICKS.COM

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in 

THESE ARE THE PROPERTY TRANSACTIONS FOR WHICH PAN CARD IS A MUST

An individual’s Permanent Account Number, is compulsory for certain transactions involving immovable property. Here’s a look at cases where it is required and the consequences of not providing this document

With rapid computerisation, an individual’s PAN (Permanent Account Number) has become an important document, for many financial and non-financial transactions. It is equally important for buying or selling properties or leasing it out.

For purchase of property

When you buy an immovable property, other than an agricultural land, for a value that exceeds Rs 50 lakhs from a person who is a resident of India, you have to deduct tax at the rate of 1%, at the time of payment to the seller or builder.

Generally, for the purpose of depositing TDS (tax deducted at source), you need to have a TAN (tax deduction account number). However, as this requirement to deduct tax on immovable property purchase is applicable to all tax payers, the law exempts individual tax payers from having a TAN. Instead, you need to have a valid PAN, to deposit the TDS and comply with the law. This is applicable, even in cases where you do not have any taxable income and are therefore, not required to file any income tax returns (ITR). 
Moreover, as per the present law, the seller in such case, should furnish you with his valid PAN. If the seller fails to do so, you are required to deduct tax at the rate of 20%, instead of the prescribed 1%.

For getting credit for TDS, with respect to rental income

The law requires a person paying any rent for an immovable property (whether land, residential house, commercial property or even factory premises), to deduct tax at source at the rate of 10% from the rent, in case the amount of rent exceeds Rs 1.80 lakhs in a year.

In case the landlord does not provide his PAN, the tenant has to deduct tax at the rate of 20% on the rent. Moreover, in case the PAN is not provided, the landlord will not get credit for the TDS. So, a landlord who does not furnish his PAN, will face a double whammy – while the tax will be deducted at 20% instead of 10%, the landlord will not even get the credit for the 20% TDS.

Additionally, the failure of a person to intimate his valid PAN to the deductor, as required by law, can attract a penalty of Rs 10,000.

For receiving income without deduction of tax at source

The tax laws allow you to enjoy rental income, without tax deduction at source, by furnishing Form No 15G if you are below the age of 60, and by furnishing Form No 15H if you are a senior citizen. Forms 15 G and 15H are treated as invalid, if a valid PAN is not mentioned on the form. Consequently, the payer of income, shall deduct tax at a higher rate of 20% on the rent.

As per the existing law, you can make an application to your TDS officer, for issuing a certificate to you that entitles you to receive the rent without TDS or TDS at a lower rate than the prescribed 10%. However, this form shall also be treated as invalid, if you do not mention your correct PAN.

The law also requires you to quote the PAN of the buyer and seller, for any transaction in immovable property, where the value exceeds Rs 5 lakhs. The registrar who registers the document, is required to ensure that the Permanent Account Numbers are mentioned on the documents relating to the sale and purchase of the immovable property.

So, the registrar can refuse to register the document for sale/purchase, if the PAN is not furnished. However, you can submit Form No 60 with the address proof, like ration card, passport, driving licence, etc., in case you do not have a PAN.

3 BHK FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 

Source: HOUSING.COM

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in 

SOON, TRAVEL BETWEEN BORIVLI AND THANE IN 10 MI-NUTES USING UNDERGROUND SGNP TUNNEL

Soon, Mumbai residents will be able to travel between Borivli and Thane in 10 minutes owing to an 11-km underground tunnel passing through the Sanjay Gandhi National Park (SGNP). The state wildlife board recently gave the Maharashtra State Road Development Corporation (MSRDC) permission to carry out an on-ground survey at the national park.

This development assumes significance as the Rs2,000 crore project requires several envi-ronment clearances. Environmentalists have opposed the project, saying would affect the ecological balance of the area.

“We got permission for a topographic survey, which our consultants have started. After we receive a few other permissions, we will start our geo-technical survey to study the strata. Following this, we will prepare a detailed project report ,” said a senior MSRDC official.

Proposed in August 2015, the six-lane tunnel will connect Tikuji-ni-Wadi in Thane and Ekta Nagar on the Western Express Highway in Borivli. Currently, the 23-km distance between Thane and Borivli — via Ghodbunder Road — takes almost an hour or even more, if there is a traffic jam. Around 70,000 cars travel across Ghodbunder Road daily.

Thane and Borivli are separated by a chain of hills, most of which are part of SGNP. Signifi-cantly, SGNP’s reserved forest is under threat owing to encroachments. In March last year, the high court ordered the demolition of these encroachments.

3 BHK FLATS IN GHODBUNDER ROAD, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 

Source: HINDUSTANTIMES.COM

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in 

REALTY INDUSTRY HAILS RBI’S DECISION TO ALLOW BANKS TO INVEST IN REITS/INVITS

Though the real estate industry was disappointed by the RBI’s decision to leave its benchmark lending rate unchanged at 6.25%, on April 6, 2017, for the third policy review in a row, the sector has welcomed its decision to allow banks to invest in REITs and InvITs

Welcoming the RBI’s decision to allow banks to invest in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), realty sector experts said this move will give the much-needed boost to the industry by bringing in liquidity.

Banks are allowed to invest in equity-linked mutual funds, venture capital funds (VCFs) and equities to the extent of 20 per cent of their Net Owned Fund (NOF). “This is a landmark decision. It will allow greater institutional participation in the real estate sector. Banks will now have route to investment into real estate, in turn, helping the liquidity within the sector,” said Anshul Jain, Cushman & Wakefield managing director, India. The Securities and Exchange Board of India (SEBI) put in place regulations for REITs and InvITs and requested the RBI to allow banks to participate in these schemes.

“This move has shown the faith RBI and SEBI has in real estate investment foreseeing positive and secured returns, in the mid to long term, on account of steady economic growth. So, it can be viewed as a sign of maturity and a step towards institutionalisation of real estate in India,” he added.

NAREDCO chairman, and DLF CEO, Rajeev Talwar said, “This step has the potential to usher-in large number of REITs’ listings in India, by offering a safe asset class to invest in and also provide competition to foreign institutions. For banks, it offers an additional important asset class for investing.” Talwar noted that for commercial real estate companies, once REITs pick up, it will bring liquidity, and free up capital that will help lower overall costs. “We now look forward to detailed norms and guidelines for banks’ investment in REITs, by May end,” he added.

REITs and InvITs can be a good source of liquidity for the real estate sector

FICCI President Pankaj Patel said the decision is encouraging and should offer a good source of liquidity for real estate companies. “We look forward to detailed guidelines on this subject by the RBI as well as further instructions and final guidelines with regards to merchant discount rates for debit card transactions,” Patel added.

Surendra Hiranandani, chairman and MD of the House of Hiranandani, said that with the banks investing in the Trusts, there will be higher liquidity in the system, which will help the cost of capital for developers in the commercial segment to decrease in the future. He said the decision to hike the reverse repo rate by 25 bps to 6 per cent, will control the liquidity surplus in the system.

Angel Broking’s senior equity research analyst-banking, Siddharth Purohit said “Though further clarity is sought on the mechanism in which this shall be adopted, it can still be sentimentally positive for listed realty and infrastructure players.”

2 BHK SPACIOUS FLATS IN WAGHBIL, THANE Contact PRESTIGE RESIDENCY sales office to Know More @ 022 25985951 - 55

 

Source: HOUSING.COM

Prescon Realtors & Infrastructures Private Limited

   

201, Prestige Precinct, Near Nitin Casting, Almeida Road, Panchpakhadi

Thane West - 400601

Phone: 91-22-25985951-55

Email: prescon@prescon.in