Wednesday, 19 July 2017

Lucknow Metro & Agra-Lucknow Expressway gives Boom in Real Estate in Lucknow

Lucknow Metro gets lion's share of Uttar Pradesh Budget

With UP government allocating Rs 288 crore for Metro rail projects in the state, Lucknow Metro — whose priority section is ready for the commercial run anytime in July — has received a lion's share of Rs 233 crore. Sources told TOI that this is the last installment for Lucknow Metro them from state government’s coffer under equity. It has already paid over Rs 1,000 crore to the project in the past two years.

Metro officials said, Since Central funding came in late, project's earlier expenses were met out only by the state government. We had requested for the last installment of Rs 233 crore this year, which hopefully has been sanctioned and approved in this budget.

For any investment in Residential and Commercial Property to provide effective returns, the chosen location should have the good social infrastructure, adequate public transport, and sufficient economic activity to sustain development and growth. These parameters apply to investments in non-agricultural land approved for Residential and Commercial development, as well as  House for Sale in IIM Road Lucknow.

However, to mitigate risks, one should stick to tier-1 and select tier-2 cities only. It is also prudent to invest in properties, where the prices range between Rs 2,500 and Rs 5,000 per sq ft, as this will provide protection against capital value erosion. Simply put, this is a safe price segment and almost guarantees capital appreciation.

In 2017, the Centre has released about Rs 446 crore and the state had to give Rs 233 crore. Lucknow Metro officials said that the allocation would help complete the project timely by March 2019.
"Since all tenders on North-South corridor have been issued, the fund will help in making faster payments to our contractors — be it coaches, signaling, underground section or second elevated stretch from KD Singh Babu Stadium to Munshipulia."

Agra-Lucknow Expressway property market

: An overview

Agra-Lucknow Expressway is an important Expressway of north India, connecting Lucknow to Delhi via Agra with Yamuna Expressway. It is one of the fastest growing housing corridors in Lucknow Region.

Agra-Lucknow Expressway is developing into a hub for investment. Numerous developments in this region could initiate a new wave of infrastructural growth and progress, giving a boost to connectivity. Developers and the buyers of residential and commercial properties on Agra-Lucknow Expressway, would not only have the advantage of improved connectivity but will also see appreciation in prices.

Agra-Lucknow Expressway is well-equipped with civic amenities like schools, banks, parks, and other social hubs. Metro connectivity is also being under Process on this route. Therefore, the demand for property has gone up in the area.

Builders in Agra-Lucknow Expressway such as Pss Builders Pvt. Ltd. are actively coming up with several luxurious and affordable projects in the area.

Connectivity with nearby Agra-Lucknow Expressway

The six-lane Link Road, which is being constructed, will provide direct connectivity to commuters moving towards Agra and Delhi from Lucknow so easily. The nearest airport to the area is Amausi Airport, which is situated at a distance of just 9.5 kilometers from the area.

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Monday, 10 July 2017

The Effect of GST on Real Estate in Lucknow-PSS Builders

The execution of the Goods and Services Tax (GST) is relied upon to realize a noteworthy change in the tax collection structure of India. Right now, the focal and different state governments force imposes on the make and buy of merchandise and enterprises. The sweeping GST should get rid of the different duties that consume a wide opening in individuals' pockets and forestall twofold tax assessment. At introduce, shoppers bear a 25–30% of taxation rate on the buy of products. GST is booked to come into compelling on July first this year.
House For Sale In IIM Road Lucknow
As much as the advantages of this new assessment administration are broadly talked about, it is as yet not clear how GST will affect the land segment, particularly minimal effort, and reasonable lodging. Land specialists crosswise over appear to be attempting to get their heads around on how this part is required to get affected by the usage of GST. 

Property projects in Lucknow
The three essential duties that are imposed in this area are Service Tax, Value Added Tax (VAT), and Stamp Duty. GST is relied upon to supplant the initial two, while the third one stays as may be.
Plot at Kanpur Road
To comprehend this GST - land problem, we might separate the parts of tax assessment in the area. Right off the bat, we should comprehend that Service Tax, which goes to the focal government, is relevant for just properties that are under development. This expense is imposed on a rate of the aggregate cost of the said property. Land cost is excluded in the figuring of Service Tax. Thus, as of now, there is a 75% reduction on under-development properties esteemed at not as much as Rs 1 crore and 70% on such properties that cost more than Rs 1 crore, similar to the top of the line extravagance condos in Bangalore. In both these cases, Service Tax is ascertained on just the staying 25% and 30% of the gross estimation of the property.

VAT too is appropriate on properties that are being built, yet are payable to the state government. This assessment is required for the offer of the house property and includes the exchange of possession to the purchaser. Nonetheless, this assessment structure shifts starting with one state then onto the next, in the scope of 1–5%. Specialists are of the supposition that the usage of GST won't just improve the assessment structure in the land, additionally decrease the extension for the case.

Stamp obligation, which is not going to be incorporated into GST, is ascertained as a rate of either the concurred estimation of the property or the base cost at which the property can be executed, contingent upon which esteem is higher. A few specialists trust that stamp obligation is a decent income generator for state governments and is along these lines avoided the ambit of GST.

Passing by the comprehension of GST versus land, specialists accept under-development properties to be entirely costly after July 1, 2017. In any case, they recommend to hold up and watch until the assigned date to see the rate of GST to be executed and its resultant effect on land costs before making conclusions.

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