Best Localities to Live in Pune

Over the years, Pune has become a pick for many individuals moving to another city. The reason is the diverse educational, employment, and living opportunities. With a reasonable cost of living, a multicultural environment, and pleasant weather, Pune is a city to consider as you choose your next destination.

This article can be a guide to help you find the best places in Pune to buy flats and apartments.

Why is Pune famous among migrants?

Pune has already established itself as a hotpot of various cultures blending to make living experiences like no other. Pune also has well-established educational institutions all around. Therefore, Pune is an aspiring city to live in for young people. Apart from that, Pune is also developing into the IT hub of India with many startups and businesses in the tech industry.

You will always find Punekars bragging about the weather conditions, and we would not complain! With cool winters, moderately hot summers, and adequate rains in the monsoon season, Pune has liveable weather conditions all year round. Pune also has a thriving nightlife which may attract young individuals with events happening in the city almost every other night. For families, Pune has high-end franchise outlets in large malls. Therefore, Pune has something in store for everyone.

What are the best localities to live in Pune?

Some of the best residential areas in Pune would include Hinjawadi, Bavdhan area, and Hadapsar. With stunning offerings in each of these areas, ease of connectivity with each other, and top-notch retail spaces, these are some of the places where people dream of living.

Let us look at each of these places in detail.

Hinjawadi

Hinjawadi is a quickly developing suburban area in Pune that has seen an influx of migrants over the past few years due to the rise of the IT, manufacturing, and biotechnology industries and businesses. Hinjawadi offers seamless roadway connectivity to some of the best surrounding regions too. With premium housing spaces, including Shapoorji Pallonji’s Joyville Hinjawadi and Sensorium, Hinjawadi is one of the best areas to live in Pune.

Bavdhan

The entire Bavdhan area, owing to its development in recent years, has made it an aspiring place to live, especially for budding and professional IT and tech-based employees. With modern infrastructure, and educational and entertainment facilities, the area of Bavdhan is desired by many. There has been rapid development in and around the Bavdhan area in real estate. Shapoorji Pallonji’s Vanaha and Vanaha Springs offer some of the best apartments in the Bavdhan area with easy connectivity to the city and the goodness of nature with wide and scenic open spaces.

Hadapsar

Retail and social infrastructures in Hadapsar are envious, with everything you need close at hand. It is also close to the IT hubs of Hinjawadi and Phursungi, making it an ideal place for professionals and entrepreneurs. Hadapsar has seen high demand for and in the supply of housing opportunities over the past few years. It also has proximity to the airport, railway station, and NH-65. Shapoorji Pallonji’s Joyville Skyluxe and Joyville Hadapsar Annexe are prime residential spaces in Hadapsar that you should check out.

To conclude, Pune is a top choice for migrants and people looking for new cities to move to in search of education, jobs, and better family life. Shapoorji Pallonji Real Estate offers wonderful residential spaces with top-notch amenities to suit all your needs.

This article was already published at — https://realestateandepc.wordpress.com/2023/02/17/best-localities-to-live-in-pune/

Stamp Duty and Registration Charges in Virar 2023

 

There are various types of payments that need to be made when you purchase a new house or an apartment in India. One of these charges is Stamp Duty and Registration Charges. Today we will look at these charges, what they mean and what are the current charges in the Virar area.

Investment Opportunities in Virar

With an uptick in investments made in Maharashtra, Virar to has seen a significant rise in the number of properties purchased in the past few years. With rapid urbanisation and the provision of the best facilities in the Vasai-Virar area through development and modernisation, Virar today seems to be a hotspot for the best residential projects in the years to come. You should consider the Stamp Duty and Registration charges in Virar to have an overview of the total cost of an investment in Virar.

What are Stamp Duty and Registration Charges?

These charges are additionally levied on property buyers apart from the property cost. It is one of the most important changes to keep in mind while buying a property. Stamp duty is a type of tax levied on any documented transaction. These charges are levied for acquiring any document that facilitates the creation, transfer, limiting, extending, extinguishing, or recording of any right or liability.

Registration charges are for the service of recording documents in government records. The government usually maintains a record or registry of documents in return for a fee. There are different stamp duty and registration rates for different states, localities and property types.

Factors like the age of the property, owner age and gender, purpose, location and amenities also might play a part in the rise and fall of these rates. They usually range from 4–8% depending on the mentioned factors.

What are the Stamp Duty and Registration Charges in Virar?

Following are the stamp duty and registration charges for Virar as per the updated rates by the Government of Maharashtra. Following the 1st April 2022 announcement, an additional percentage will be charged as metro cess on property charges. The rates in Palghar also apply in the Virar area.

Palghar

Stamp Duty Rate (Male): 6% (5% Stamp Duty + 1% Metro cess)

Stamp Duty (Female): 5% (4% Stamp Duty + 1% Metro cess) (Condition: Property cannot be sold before 15 years of purchase.)

Registration: For properties above Rs.30 Lakh, Rs.30,000. For properties below Rs.30 Lakh, 1% of the property value.

These rates are essential to know the approximate costs of investing in housing in the Virar. These rates are approximate as provided by 99acres.com.

These rates will also help you to understand the total expense you will have to incur while buying spacious houses that are affordable and plush in Joyville Virar with 1 and 2 BHK flats in Virar West starting at just Rs.41.99 Lakh*.

Originally published at http://realestateandepc.wordpress.com on February 9, 2023.

Stamp Duty and Registration Charges in Pune 2023

 

Stamp Duty and Registration Charges are one of the taxes the property buyers pay to the government while buying a property, flat, or apartment. Understanding the different charges according to the area, district, and state helps potential buyers understand the best investment opportunities.

Today we shall understand the specifics of Stamp Duty and Registration charges in Pune and comprehend the current rates in Pune.

Real Estate Opportunities in Pune

Pune is one of the fastest-growing residential hubs in the country. With growing infrastructure, renowned business presence, and culturally rich surroundings, Pune has emerged as one of the best choices for individuals and families. With the rapid development of areas like Hinjewadi, Bavdhan, and Hadapsar among others, Pune is proving to be the ideal location for investment and living. This article will help you understand the Stamp Duty and Registration charges in the Pune area which will help you plan your investments better.

What is Stamp Duty?

Stamp Duty is a tax levied by the government on property buyers, similar to Income Tax. Stamp Duty and Registration charges are paid when there is a transfer of ownership of a property. The payment of Stamp Duty on property documents confers them legally, and they can be ad as evidence in a court of law.

Who has to pay Stamp Duty?

In the case of the first sale from the developer, the purchaser pays the Stamp Duty. In the case of a resale or lease, the transferee or lessee has to pay it. With an exchange of property, both parties equally bear the charges.

How is the rate of Stamp Duty decided?

The rate of Stamp Duty differs from state to state. The gender of the purchaser/transferee/lessee also plays a part in the charges. Stamp Duty is charged based on the market value or agreement/registration value, whichever is higher.

What is Registration?

After the payment of the Stamp Duty, it is dated, signed by parties, and attested by witnesses wherever required. The document then needs to be registered under The Registration Act, of 1908. The registration process is done to make an official record in Government books. This also makes you the official property owner.

What are the Stamp Duty and Registration charges in Pune?

Maharashtra State government decides the Stamp Duty and Registration rates in Pune. It is a significant form of revenue for the government. The rates for the year 2022–23 are as follows:

Stamp Duty Rate (Male): 7% (5% Stamp Duty + 1% Local Body Tax + 1%Metro cess)

Stamp Duty (Female): 6% (4% Stamp Duty + 1% Local Body Tax + 1% Metro cess)

Registration: For properties above Rs.30 Lakh, Rs.30,000. For properties below Rs.30 Lakh, 1% of the property value.

These rates will help you understand the total amount required for property purchase in the Pune area. Shapoorji Pallonji’s Joyville in Hadapsar provides spacious 1, 2, and 3 BHK flats in Hadapsar with value for money starting at Rs.42.9 Lakh.

Originally published at http://realestateandepc.wordpress.com on February 9, 2023.

All You Need to Know about the Bhadla Solar Park

Spanning a total area of 14,000 acres in Bhadla village, the Bhadla Solar Park is the largest solar park. It gets its name from the Bhadla village where it is situated. The region is known for its soaring temperatures, which makes it ideal for a solar project.

In its totality, the Bhadla Solar Park is a 2245 MW (2.25GW) solar power plant with over 10 million solar panels. It is also the world’s largest photovoltaic project and involves an investment of about Rs. 98.5 billion. The project is carried out under the Ministry of New and Renewable Energy (MNRE) and is in line with the Rajasthan Solar Energy Policy, 2011.

Phase-wise Construction of the Bhadla Solar Park

The construction of the Bhadla Solar Park began in 2015 and was completed in four phases:

• - Bhadla Solar Project Phase I: 65 MW
• - Bhadla Solar Project Phase II: 680 MW
• - Bhadla Solar Project Phase III: 1000 MW
• - Bhadla Solar Project Phase IV: 500 MW

Construction of the solar park began in 2015, and the first phase was commissioned in October 2018. The second phase was completed in 2019, and the third and fourth phases began in 2020.

About the location of the Bhadla Solar Park

The Bhadla village is considered inhabitable with torrid heat. But due to its high temperature, it is an ideal place for a solar park. The solar panels require regular cleaning due to frequent sandstorms. The solar panels are cleaned by robots and supervised by workers.

Bhadla Solar Park Phase Undertaking

Several entities have undertaken different phases to deliver this solar project. According to Mercom India Research, Phases I, and II were developed by Rajasthan Solar Park Development Company (RSPDC). Surya Urja Company, a joint venture between the government of Rajasthan and IL&FS Energy Development Limited, developed the third phase. The fourth phase was developed by Adani Renewable Energy Park — a joint venture between Adani Enterprises and the government of Rajasthan.

Features of the Bhadla Solar Park

• The Bhadla Solar Park is a large-scale effort to help India reduce its use and dependence on fossil fuels.
• The Bhadla Solar Park has resulted in an increase in job opportunities due to the large nature of the project.
• The 10 million solar panels have a generation capacity of about 2245 MW.
• The auction for this park received surprisingly lower bids than NTPC, with a per-unit price of INR 2.62.

Sterling and Wilson Renewable Energy’s Contribution to the Bhadla Power Plant

Sterling and Wilson Renewable Energy has contributed to the 580 MWp Solar Power Plant in Bhadla, Rajasthan by deploying an automated robotic cleaning mechanism over 2084 acres that enhances power generation and reduces water consumption and operating expenses. This has also resulted in the development of employment and growth in the areas of Bhadla, and Rajasthan.

Originally published at http://realestateandepc.wordpress.com on February 9, 2023.

What is the Balance of System (BoS) in Solar Plants?

In a photovoltaic system, solar panels are the most important part of the plant. However, solar energy needs to be effectively channelled with the help of other components. The components which allow the proper flow of energy from the solar panels to the grid are called the Balance of System (BoS).

What components make up the BoS?

BoS components include all the fittings and equipment apart from the photovoltaic panels. They usually make up about 10–50% of the total solar purchasing and installation cost and require high maintenance.

The following are some components included in the BoS:

• Specified cables and wires to allow proper current flow
• Sturdy mounting systems to hold the panels
• Solar inverters that invert DC to AC
• Battery banks to store and supply energy when required
• Battery chargers to send solar energy to devices or batteries
• Charge regulators to prevent high voltage
• Protection devices like fuses, earth leads, and switches

These are components that usually make up the BoS. Some additional equipment in the BoS based on the nature and requirement of the project could include:

• GPS solar trackers that keep the panels always in a position to receive maximum power from the sun
• Power management software to work on all the parts of the plant
• Wind speed sensors
• Circuit breakers to prevent electrical circuit damage
• Other task-specific accessories

Why is understanding the BoS important?

As mentioned, the BoS makes up for expenses as high as 50% of the total solar purchasing. Hence, a proper understanding of the components, the size of its requirements, and finding cost-effective ways to source these helps solar firms understand the best ways to spend to acquire the optimum BoS. Even though the price of solar panels and inverters has dropped considerably, the cost of BoS components remains steady. Customised planning ensures a cost-effective and energy-efficient BoS environment.

Sterling and Wilson Renewable Energy provides top-quality BoS solutions that fit every scale of solar plants.

Originally published at http://realestateandepc.wordpress.com on February 9, 2023.

Stamp Duty and Registration Charges in Bangalore 2023

Bangalore is one of the most decorated cities in India, with historical evidence that signifies the prominence of this city on the Indian map for generations. Bangalore is known for its pleasant weather, business opportunities, and cultural diversity. Bangalore is also home to some of the biggest tech companies in the country and is known as the Silicon Valley of India.

Culturally speaking, Bangalore has many reasons why the city has always been among the top cities in India to live in for job seekers, families, and individuals from all walks of life. This article will dive into the Stamp Duty and Registration charges on properties in the City of Lakes.

What do Stamp Duty and Registration charges in Bangalore mean?

Stamp Duty is the charge levied by the State government, quite similar to Income Tax, on property buyers. Once stamped, real estate investors and buyers should register the documents with the government. This registration officially records the buyers as legitimate owners of the property. These documents can be used as evidence in a court of law upon completion of Stamp Duty and Registration.

The charges of Stamp Duty and Registration differ from state to state. Additional taxes and charges may be levied on the rates by the local governing body or the state government directly. These taxes depend on the property age, purpose of the purchase, buyer’s gender, location, additional amenities, and other factors.

What are Stamp Duty and Registration Charges in Bangalore?

These rates are usually revised annually by the government of Karnataka on 31st January. The rates help potential buyers understand the amount they would need to pay for properties of different configurations. Let us look at the Stamp Duty and Registration rates in Bangalore for 2023 as listed by 99acres.com:

Stamp Duty Rate (Male):

• 5% on property above 45 lakh
• 3% on properties between 21–45 lakh
• 2% on properties less than Rs 20 lakh

Stamp Duty (Female):

• 5% on properties above Rs 45 lakh
• 3% on properties between Rs 21–45 lakh
• 2% on properties less than Rs 20 lakh

Stamp Duty (Joint Male+Female):

• 5% on properties above Rs 45 lakh
• 3% on properties between Rs 21–45 lakh
• 2% on properties less than Rs 20 lakh

Stamp Duty (Joint Male+Male):

• 5% on properties above Rs 45 lakh
• 3% on properties between Rs 21–45 lakh
• 2% on properties less than Rs 20 lakh

Stamp Duty (Joint Female+Female):

• 5% on properties above Rs 45 lakh
• 3% on properties between Rs 21–45 lakh
• 2% on properties less than Rs 20 lakh

Registration: 1% of property value

Why should you consider investing in Bangalore in 2023?

Compared to other states, the Stamp Duty and Registration charges in Bangalore for 2023 are lower for male buyers. Bangalore is also one of the most desired cities to move to, with many people relocating to Bangalore through the years. For the characteristics already mentioned above, and for many other reasons, Bangalore is proving to be a happy city to move to if you are looking for investment or residential opportunities in the country.

Shapoorji Pallonji Real Estate offers luxurious residential spaces with which is in the Binnypet area, one of the best places to live in Bangalore.

Originally published at http://realestateandepc.wordpress.com on February 9, 2023.