From July 1 2017, Goods and Services Tax (GST) effectively cuts through a confounding Gordian knot of taxation complexity in the country. In other words, it will replace the multiple taxes levied by the state and central governments and will become incorporated of all the indirect taxes, including commercial tax, value-added tax (VAT), service tax, central excise duty and octroi tax/charges. The switch-over to the GST (Goods and Services Tax) regime is undoubtedly one of the biggest tax reforms in post-independence India.
GST has been primarily conceptualised as a ‘One Nation, One Tax’ philosophy and it will help:
• Eliminate the previous cascading tax structure
• Ease compliances
• Create uniform tax rates and structure
• Reduce additional tax burdens on consumers
The Indian real estate sector has been going through significant transformations in recent times. The latest Real Estate and Regulation Act (RERA) has already started addressing the issue of non-transparency and affixes a level of accountability on real estate builders and brokers which is exceptional in the history of the Indian property sector. For the real estate sector, the implementation of GST will definitely be a positive sentiment booster among property buyers. GST may not be instrumental over the short term in bringing down the prices of residential real estate. As the accountability being fixed at every stage and the perception of the residential real estate sector will improve on the back of a simplified tax structure, it will, however, benefit all the stakeholders of the sector.
A simple and transparent tax applied on the purchase price is the biggest advantage for property buyers. All under-construction properties will be charged at 12% under the GST regime (excluding stamp duty and registration charges) on property value, adding that it will not apply to ready-to-move-in and completed projects, as there are no indirect taxes applicable in the sale of such properties. In case of under-construction properties, levy of stamp duty and registration charges on the buyer will continue.
Under the current tax regime, a property developer is subject to central excise duty, VAT and entry taxes (levied by state) on construction material cost. On the services used (labour charges, architect fees, approval charges, legal fees, etc.), developers pay service tax of 15%. Real estate developers also grapple with the challenges of multiple-taxation and the cumulative burden eventually gets passed on to the buyer. As the benefit of input tax credit being considered as an added advantage, developers too will find the GST regime much simpler to work with.
Varma Homes is one among the best builders in Kochi offering high quality and new luxury apartments. We always create the best living spaces meeting the requirements of clients. If you are looking forward to buy new luxury flats and new apartments in Kochi, then contact us today. Call +91 9645 88 33 33 for more details.
Varma Homes takes the deepest plunge to make happiness, possible. Varma Regent, compact apartments is being built at Edapally by the best builders in Cochin. Taking into consideration the uniqueness and the sophistication of affordable luxury homes in the finest of the locations, Varma Homes have gone all out to constructing happiness. Varma Homes, we are the best property builders in Kochi offering new luxury flats, apartments, and residential projects in Kochi, Trissur, and Trivandrum. The art of design is a craft only a few are blessed with. It takes passion, drive, and immense courage. On a mission to Construct Happiness, Varma Homes, the best home builders in Kerala are on the path towards pioneering exquisite lifestyle. The world is moving faster than you can imagine. There's always a need and the urge to be different. To standout in the crowd and make every second count. Every choice noticed, with envy. There's a corner in the world where the entire bustle melts away. And there's nothing like going back here – an affordable luxury place you can call your own, here at Varma Regent. Varma Regent is the current ongoing residential projects of Varma Homes at Edapally. At Varma Regent, located at Ponekkara, to say 'convenient' is an understatement. Kochi's fast paced culture is at the doorstep with the phase I of the Kochi metro commencing up to Edappally. It takes immense courage and deep visualization to make a dream home come true. The unique combination transcend to a whole new realm of affordable 2 & 3 BHK luxury homes ranging between areas of 862 sq.ft to 1357 sq.ft. We know how important it is to have an inside that is as beautiful as your outsides. Our insides are carefully done, giving the terms affordable luxury and comfort a whole new definition. The NH 47 provides swift access from the City to the outskirts and beyond, a city within the city. Ensuring that socializing and shopping are catered for at ease, indulge in a shopping spree at the popular lifestyle shopping destination of the South. People are well connected to the best and the biggest healthcare centers in town – AIMS and Aster Medcity. Everybody is good at something. For Varma Homes, it's building living spaces. To build a place where one can find all the comforts and finally call it home is what we do best at its best. If you are looking to buy an affordable apartment in Edappally with luxury amenities Varma Regent is the best option. Register your interest now!Read More
Cochin has welcomed a lot of people from many parts of the state especially due to its incredible growth in job sector and infrastructure development. Nowadays people have started choosing new flats and new apartments outside the city limits of Kochi. Major reasons for that include increasing price ranges and unavailability of space in projects inside city. When you are looking for new luxury flats or new luxury apartments in Kochi outer city, Edappally will be one of the best options as it is said to be one of the fastest growing areas in the city of Kochi. It is also known as the ‘Entrance to the Kochi city’. Having apartments in Edappally will ensure that you live in close range of city limits yet keeping a healthy distance from the crowded city. The Kochi Metro Station marks a prime location for Edappally and this makes various locations inside the city more easily accessible for residents of flats in Edappally. The two national highways (NH 47 and NH 17) join the Kochi Bypass Junction at Edappally. The National Highway 17, which extends to Panvel, Maharashtra starts from Edappally ensuring easy access to and from major cities across the country. Another factor which will make you choose flats in Edappally is the close amenities of educational institutions and places of entertainment. Amrita Institute of Medical Sciences (AIMS), Amrita School of Arts and Sciences, Govt. Vocational and Higher Secondary School-Edappally North, Bharathiya Vidya Bhavan Elamakkara etc. are at nearest locations of Edappally. Places of worship like more than 1000 years old Edapally Juma Masjid, Edapally Ganapathy Temple, St. George Syro-Malabar Catholic Forane Church, Edappally etc. also are major attractions for someone looking for luxury flats in Edappally. Cochin has India’s largest shopping mall in Edappally – Lulu Shopping Mall, built on an area of 17 acres. Oberon mall, the first full format mall in Kerala is also a finest attraction of Edappally. Oberon is around 1 km distance from the Edappally Junction. The night life of Cochin has become Lulu focused and visitors flow continues even late night. Varma Homes, the builders in Cochin offer flats and 2 bhk luxury apartments in Edappally near Lulu Mall to ensure you best access to the favourite shopping location of today’s Cochin. The best home builders in Kochi, Varma Homes’ compact apartments – Varma Regent is being built at Edappally. Varma Regent is one of the current ongoing residential projects of Varma Homes, located at Ponekkara. The 2 BHK luxury homes ranging between areas of 862 sq.ft to 1357 sq.ft ensure all premium facilities on an affordable price range. Varma Regent is on its last phase of completion and the project will get accomplished by the end of December. Most of the units of Varma Regent are already sold out and only few units are left. If you are looking to buy an affordable apartment in Edappally with luxury amenities, pay a visit to Varma Regent’s sample apartments which is all set for the home seekers so as to make a wise decision on buying it. We at Varma Homes, the top builders in Edappally always create the best living spaces meeting the requirements of our clients. If you are looking forward to buy apartments in Edappally, Varma Regent is the best option. For more details, contact us today. Call +91 9645 88 33 33 for more details.Read More
Property valueThe property values in Kochi have steadily increased throughout the years. Purchasing a flat in Kochi may bring excellent returns on investment as property values rise over time. Kochi is strategically positioned in southern India and is well-connected to the country's other main cities. This makes it an attractive place for businesses to establish themselves and for people searching for a well-connected house. It features a first-rate infrastructure in terms of transportation, healthcare, education, and other necessities. This makes the city an appealing location to live and work, which boosts property values.Rental incomeKochi is a significant commercial hub that draws a large number of individuals who come to the city for jobs or education. Investing in an apartment in Kochi may produce a consistent rental income, making it a good investment choice. In addition to providing a steady stream of income, the property's returns or rental income will be inflation-adjusted. The rental yield for flats in Kochi is around 4-6%, which is relatively high compared to other cities in India.Lifestyle BenefitsKochi is a lovely city with a rich cultural background, and buying an apartment there gives you access to a variety of lifestyle amenities including parks, retail centers, and recreational facilities. The city also includes a number of parks and green areas that provide a welcome respite from the rush and bustle of metropolitan life. It has a reduced cost of living than other major Indian cities. This makes it an excellent choice for people seeking a pleasant living without breaking their wallets. It offers multiple well-equipped hospitals and healthcare facilities, making it a perfect location for individuals who desire convenient access to quality healthcare. It also has an extensive network of buses and trains, making it simple to get around the city and visit the surrounding areas.Tax benefitsThe local government imposes a property tax on properties in Kochi. Property taxes in Kochi are cheaper than in other major Indian cities. Property owners in Kochi can also get tax breaks on the interest they pay on their house loans. Subject to certain criteria, residents can claim tax breaks on capital gains on the sale of their homes. Kochi has a Special Economic Zone, which provides many tax breaks to enterprises that operate within it. These advantages include tariff and tax exemptions on items imported or exported from the zone.Rich CultureKochi has a plethora of cultural attractions for visitors to explore. This dynamic city has plenty for everyone to explore and admire, from traditional dance and art to historic buildings and delectable cuisine. It is well-known for its exquisite food, which includes a broad range of vegetarian and non-vegetarian meals. Appam, puttu, and fish curry are among the must-try delicacies in Kochi. Here, you get a glimpse of Muziris Biennale, which is the best festival to attend because of its upbeat atmosphere created by artists, musicians, dancers, and cuisine. You would not be startled to hear Hindi or any other language in this city because many people speak Hindi and other languages. Metro exposureThe introduction of the Kochi Metro has transformed the face of Kochi, making it easier to go to most destinations inside the city without getting stuck in a frustrating traffic jam. Kochi's public infrastructure has been updated, and the Kochi Metro has improved the city's brand image. As a result, there has been an increase in demand for homes near metro stations, which has bolstered the real estate industry.Kochi is seeing an increase in demand for luxury apartments, with numerous developers developing high-end developments in the city. This gives an opportunity for individuals wishing to invest in high-end properties with substantial profits. Purchasing flats in Kochi may be a smart investment for people seeking a consistent rental income, capital gain, and a developing market for luxury apartments.Read More
It’s common now for most residential properties, luxury or otherwise to come equipped with a host of fully loaded high tech amenities that make personal living experiences more convenient and super comfy whilst simultaneously weaving in work and business expediency. Features such as business bays, fitness centres or concierge desks are now considered as given conveniences that are a must for the exacting demands of residents. In fact it’s not unusual for residential properties to resemble more on the lines of luxury resorts rather than simple lacklustre residences. The sky is the limit and there really is no dearth of shortage of bespoke residences that fulfil every desire. So what then should you expect if you’re a home buyer looking for a property that will comply with your needs for today and appreciate suitably or phenomenally in the future as well? Here, we’ll individually take a look at some of the niche amenities that are being offered to the conscientious customers of today whilst presenting an opportunity for realty investors to identify early opportunities in this segment. Dedicated zones for entertainment and multimedia are no longer things of the past, they are the standing reality of today. As the world moves at lighting speeds with respect to technology, gaming and virtual reality zones are fast becoming a must have feature in residential complexes. To that end, many developers are imbibing these dedicated zones in their blueprint plans. So while one can expect private Jacuzzis and spas conveniently located a few floors below their residences, it’s not going to be surprising to find private entertainment and multimedia zones located right next to them. Usually most residential configurations already come pre-designed with multimedia zones within the house itself with special provisions for enabling it with ‘smart’ features. However, lately consumer needs have started gravitating towards incorporating the multimedia zone as a shared community space rather than a private feature solely accessible to the home’s inhabitants. Many reasons can be attributed to this shift, mainly the fact that many large sized simulators are impractical within the house besides it’s more convenient to allocate the multimedia or entertainment zone outside the house and free up the space within for something else. Perhaps a private pool or a work station, as the individual requirements may go. Those residential properties already having these types of zones allocate enough space so as to accommodate dedicated gaming zones, snug bowling alleys, virtual reality golf courses, cricket pitches and table tennis or lawn tennis simulators among other outdoor sports. What’s more, there will be high end gaming consoles and the latest play stations so that kids and adults alike can partake in their daily doses of some gaming action. These sorts of entertainment zones are not intended purely as leisurely, recreational activities rather an opportunity at family bonding and professional networking intermeshed at one great, fun place, within the residential complex. Moreover as these zones are located within the complex itself, residents are saved from traffic jams and traveling woes - something anyone and everyone appreciates! Did we mention about the mini theatres or screening rooms with super plush and comfortable seating options? Those too are very much an integral part of the entertainment zone. So residents can pretty much enjoy a session at the spa, work out at the high tech health club and saunter over to the entertainment zones and end the evening either playing some virtual tennis or catch their favourite movie, whatever catches their fancy first. In the western countries, residential projects have fast caught on with these futuristic concepts. And it is thought that this will be a rage in the coming years everywhere. In fact, there are quite a few national developers who’ve even begun planning these niche features in their pipeline projects. However, there is a considerable outlay for the developer and consequently the customer too. Hence it’s best advised for any new buyer to consider these aspects beforehand. Varma Regent, compact apartments is being built at Edapally by the best property builders in Kochi. At Varma Regent, located at Ponekkara, to say 'convenient' is an understatement. The unique combination transcend to a whole new realm of affordable 2 & 3 BHK luxury homes ranging between areas of 862 sq.ft to 1357 sq.ft. Varma Regent is one of the current ongoing residential projects of Varma Homes at Edapally. Kochi's fast paced culture is at the doorstep with the phase I of the Kochi Metro Rail project commencing up to Edappally. If you are looking to buy an affordable apartment in Edappally with luxury amenities Varma Regent is the best option. Varma Homes is one among the top builders in Kerala offering high quality and affordable luxury apartments in Thrissur, Kochi and Trivandrum. We always create the best living spaces meeting the requirements of our clients. If you are looking forward to buy apartments or flats in Thrissur, Trivandrum, Kochi then contact us today. Call +91 9645 88 33 33 for more details.Read More
Kerala is known for its serene landscapes, beautiful beaches, and lush greenery. The state also boasts of bustling urban centres like Kochi, Thiruvananthapuram, and Thrissur, which are witnessing a surge in luxury living. For those who are looking to settle down in Kerala's urban centres, there are plenty of luxury flats available for sale. In this comprehensive guide, we will take a look at the top luxury flats for sale in Kerala's urban centres.If you are searching for residential apartments for sale in Kerala with a range of amenities, then Varma Homes offers you a wide range of apartments in and around the state. With the trending demand & craving of investors to capitalize on quality styled apartments, we craft our residential projects with the blend of all modern and traditional comforts. The realty market is fast flowing into the edge of the city, transforming them into the next best destination to invest in.Varma Harmony, KochiVarma Harmony is a 2/3 bhk luxury apartment project located at Edappally, Kochi. It offers you plenty of amenities to make sure your stay is comfortable and carefree. It includes a health club, multi recreation/association hall, children's play area, open party area, yoga area etc.Varma Homes' new project Varma Harmony creates an exceptional experience of luxurious style and grandeur in your life. The single tower with ground floor and 4 floors has a total of 28 units of luxury apartments consisting of 2 BHK ranging from 1074 sq. ft. to 1475 sq. ft. and 3 BHK ranging from 1458 sq. ft. to 1771 sq. ft. This grand project stays upright in an area of 46.30 cents at one of Kochi's most sought after residential areas - Edappally.Varma Urban Heights, KochiThe Varma Homes Kadavanthra project "Urban Heights' ' is located in the heart of Kadavanthra. The project offers luxurious 3bhk and 4bhk apartments that are designed to provide residents with the ultimate comfort and convenience. The apartments are spacious and well-ventilated, with plenty of natural light and breathtaking views of the surrounding cityscape.Kochi, also known as Cochin, is a major port city in the Indian state of Kerala. It is situated on the west coast of India, overlooking the Arabian Sea. Kochi is known for its rich cultural heritage, natural beauty, and thriving economy. The city has a population of over 2 million people and is the commercial hub of Kerala.Varma Rhythm, KochiVarma Rhythm is a 2/3 bhk luxury apartment project located at Eroor, Kochi. It offers you the experience of urban rhythm and has a range of luxury amenities including swimming pool, clubhouse, health club, children's play area, rooftop party area, yoga room etc.Located 2 km away from Vyttilla which offers you a calm ambience that everyone loves to have. Yet it's not that far that you need a long drive to get to the city blues. Hospitals, schools, economic centres - everything that you need to live in luxury are at a reachable distance. There's no need to run errands to get your things done.Varma Suburban, TrivandrumVarma Suburban is a luxury 2/3 BHK apartment project located at Kazhakkoottam, Trivandrum. When you love to live a life of luxury, you expect to have a variety of facilities for you to have fun, health and hassle - free life.In an area of 41.70 cents, Varma Homes brings to you the experience of suburban living with their new project. Varma Suburban. The single tower with ground and 9 floors has 36 units of luxurious living with 5 units from second to eighth floor and a single unit on the 9th floor. The 2 and 3 BHK apartments range from 1044 sq. ft. to 1448 sq. ft. respectively. With two parking lots on the ground floor and first floor, it's spacious enough for everyone to park and a terrace garden that gives you an opportunity to have your 'me-time' calmly.Varma Dr. Pai's Legacy, TrivandrumVarma Dr. Pai's Legacy is located at Dr.Pai Road, Poojappura, Thiruvananthapuram and is well connected to all major city centers and transport hubs. This location makes you close to almost everything a city lifestyle demands and has a range of amenities including clubhouse, health club, rooftop party area, guest suite room and children's play.Varma Spectrum, ThrissurVarma spectrum is located in this beautiful sport mirroring the exuberance of the place with its aesthetically composed homes featuring top-of-the-line architecture. It is close to NH bypass and nearby to Bhavan's Vidya Mandir Poochatti.Varma Signature, ThrissurVarma Signature is located near Jubilee Mission Hospital Ancherychira, Thrissur. This location makes you close to almost everything a city lifestyle demands and has a range of amenities created to improve your lifestyle. Be it the hall, swimming pool, gym, walkways or landscaped greenery, it inspires happiness and enables you to live a truly fulfilling life.These are some of the top luxury flats for sale in Kerala's urban centers. When buying a luxury flat, it's important to consider factors like location, amenities, and builder reputation. With the above-mentioned luxury projects, you can be assured of quality construction, modern amenities, and a comfortable and luxurious lifestyleRead More