Tuesday, January 9, 2024

What do you mean by civil construction?

Understanding Civil Constructions: The Foundations of Innovation and Progress

Think about your favourite monument or the expansive airport in your city. Think about the public transport systems, roads, highways, train stations, and bridges. We pass by or use so many of these structures every day. Have we stopped to think about the creators and maintainers of these structures?

Civil construction, a branch of Civil Engineering, involves the construction and maintenance of natural and manmade environments. They are also called civil infrastructure projects and are the backbone of infrastructure in our world.

In this article, we will explore the importance of civil construction, its key components, and the various personnel involved in civil construction.

A multi-faceted industry

Civil construction includes the planning, designing, execution, construction, and maintenance of structures and systems that serve the needs of the people and country. From massive bridges, upkeep of national monuments, and development of well-channelled transportation, civil construction undertakes all such and many more projects.

Key components

Structural engineering

The designers of the ‘bones and joints’ of a project, structural engineers are experts who design and analyse structural components that stand the test of time and can withstand various loads from gravity, wind, or even seismic forces. They are skilled in assessing conditions and providing plans that ensure the safety of occupants and users while meeting design goals.

2. Geotechnical engineering

Geotechnical engineers are skilled in assessing the effect of earth materials on structures. They do subsurface and on-surface explorations to analyse the soil, water, and rocks and provide the right foundation upon which structures stand firm. Thus geotechnical engineers or even geologists design earthworks and foundations for projects while also providing solutions to repair damages caused due to erosion, landslides or mining.

3. Transportation engineering

The designers that make our way around the city easier and more effective are transportation engineers. They are the ones to ideate, plan, and execute the construction of roads, highways, bridges, and other transportation structures. They design these structures keeping in mind the traffic flow, safety requirements, and environmental concerns.

4. Water resource engineering

Water resource engineers study and manage solutions and systems that provide the distribution and circulation of one of the most precious resources to humanity. These engineers plan and execute systems for water storage, supply, distribution and treatment. Some examples are dams, reservoirs, and irrigation systems.

5. Environmental engineering

Environmental engineers design systems and structures that use scientific principles to preserve and protect human health and the natural ecosystem. They also work to develop sustainable solutions that help both humans and nature thrive. These engineers might devise solutions for wastewater management, waste disposal, recycling and other similar projects.

Importance of civil constructions

As explained above, civil construction emerges to be one of the most pivotal cogs in the wheel of modern and societal progress. They not only develop and maintain infrastructure, but also contribute to economic growth, job creation, and environmental protection. As technology continues to advance, civil construction will play an increasingly crucial role in shaping communities, cities, and countries all over the world.

Shapoorji Pallonji is one of the best civil engineering companies in the world and has pioneered iconic projects worldwide with adept expertise in technology, resources, and construction for over 155 years.

To learn more about Shapoorji Pallonji, visit — https://www.shapoorjipallonji.com/business/EngineeringAndConstruction

Originally Published at - https://industryupdates.medium.com/what-do-you-mean-by-civil-construction-4266cf88ee62

Wednesday, December 20, 2023

Stamp Duty and Registration Charges in Bangalore 2024

Stamp duties and registration fees are taxes imposed by the government in the event of a purchase of a property and even on the transfer of ownership of a property. These taxes ensure that the transaction is legally valid and recognised as ‘Proof of Right’ by the law. While stamp duty is influenced by the market value of the property, registration fees are the charges that go into registering every property document by the local Sub-registrar to confirm the location and address of said property. Because of this, the applicable taxes vary from state to state.

In Bengaluru, the stamp duty typically ranges between 3–5% depending on the location and value of the property while the registration charges come around 1–2%. As a part of the property registration charges, an additional cess and surcharges are also applicable. For urban areas in Bengaluru, a cess of 10% and a surcharge of 2% are levied on properties above Rs.35 lakh.

Stamp Duty rates in Bengaluru:

Properties above Rs.45 lakh — 5%
Properties between Rs.21–45 lakh — 3%
Properties less than Rs.20 lakh — 2%

In Bengaluru, the applicable fees are the same for both genders. The registration charge is 1% of the property value.

Stamp Duty and Registration Charges in Bengaluru for 2024

While the above rates represent the current trends, the government of Karnataka, as recently as December 11, 2023, passed a bill that raises stamp duties on many property transfer instruments.

In urban areas, the stamp duty for property partitions converted for non-agricultural purposes will rise from Rs.1,000 per share to Rs.5,000 per share.

In gram panchayats, the stamp duty for such property partitions will increase from Rs.500 per share to Rs.3,000 per share. Additionally, the stamp duty for agricultural property partitions in gram panchayats will escalate from Rs.250 per share to Rs.1,000 per share.

To know the stamp duty charges of the property you are interested in, simply log on to Kaveri Online Services and fill in the details of your property to know the amount you’ll have to pay.

Besides the specific state-wise allotment of the taxes you have to pay when purchasing a property, several general factors influence the percentage of the charges. They include:

Property type: The tax applicable to commercial properties exceeds that of residential homes as commercial properties include several additional features and amenities compared to a residential property.

Location: The property’s geographical location significantly influences the tax charges, with rural and semi-urban areas generally incurring lower stamp duty and registration charges in Pune.

Market value: The calculation of current stamp duty and registration charges takes into account both the total area and the market value of the property.

Owner’s age & gender: The government extends additional concessions based on the age and gender of the property owner. Senior citizens and women may qualify for subsidized stamp duty and registration charges as part of these concessions.

First-time home buyers: Individuals buying a home for the first time are eligible for a maximum of Rs.2.5 lakh exemption on their stamp duty.

Ready reckoner rate: Also called a circular rate, the ready reckoner rate also influences the stamp duty calculation. These rates depend on the area and restrict the sale of a property below a specific amount.

Buying a home is one of the most important decisions a person will make in their lifetime. It is a measure of steadfast commitment and hard work. To make this endeavour successful, it is not only important to consider the property price by itself but also the various associated taxes that get invoked so that he or she is aware of it to make this process a smooth experience.

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Originally published at http://realestateandepc.wordpress.com on December 20, 2023.

Stamp Duty and Registration Charges in Mumbai 2024

Mumbai city is a prime real estate market. The influx of urbanisation, commercial and professional opportunities, hubs for multi-national businesses and improving connectivity become factors in pushing the property margins up. With land becoming a scarcer and more valued commodity, every sale or purchase is a significant contribution to the revenues of the government of Maharashtra.

Two of how the government earn with the sale of properties are stamp duties and registration charges. Take for example what occurred in 2020. When the real estate industry faced a slump, the Maharashtra Government reduced stamp duty charges from 5% to 2%. This led to a boost in property sales.

For a home buyer in Mumbai, in addition to the two fees, they have to pay an additional 1% extra stamp duty in the form of a metro cess tax. In total, this raises the tax to up to 6%.

Understanding Registration Charges

Registration charges are the fees paid for registering the property under the buyer’s name. This process provides legal sanctity to the property transaction.

Understanding Stamp Duty in Mumbai

Stamp Duty functions as a property tax where a tax is imposed by the state government on purchasing a property. Maharashtra pays some of the highest stamp duties in the country. To understand the amount you would have to pay in duties is dependent on several factors, including:

Location: The property’s geographical location significantly influences the tax charges, with rural and semi-urban areas generally incurring lower stamp duty and registration charges in Pune.

Market value: The calculation of current stamp duty and registration charges takes into account both the total area and the market value of the property.

First-time home buyers: Individuals buying a home for the first time are eligible for a maximum of Rs. 2.5 lakh exemption on their stamp duty.

The Maharashtra government has given special consideration to investors looking to invest in properties in Mumbai by extending the stamp duty waiver for up to 3 years. They now have the opportunity to receive a waiver on stamp duty for resales made within three years of acquiring their property. In these transactions, the stamp duty applies only to the price difference of the property, rather than the entire amount.

For farmland, agricultural land, or residential property, the stamp duty for a gift deed passed on to family members is Rs 200, while for non-family members, the stamp duty is three per cent of the property cost.

Members of housing societies looking to undergo redevelopment are not required to pay stamp duties. At most, they will be required to pay Rs. 100 while the conveyance deed between the developer and the housing society will remain in effect.

Stamp Duty and Registration Fees for 2023–2024

Depending on the location of the property, the duties vary. For areas in gram panchayat regions, the taxes cost 3% of the market value, whereas the municipal regions of urban areas come to about 5% of the market value.

The Maharashtra Government charges a fixed amount of Rs. 30,000 if the retail value of a property is above Rs 30 lakh. However, if the property costs below Rs. 30 lakh, the registration charge is 1% of the property value.

The existing stamp duty rates stand at 5% for men and 4% for women, while registration fees are set at 1% of the property value. In Mumbai, the stamp duty is elevated at 6%, accompanied by registration charges of 1% of the property value.

While these are the current trends observed, the rates can change depending on the ongoing conversations around the cess charges and the appeals for its withdrawal from citizens and realtors as it places further strain on both.

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Originally published at http://realestateandepc.wordpress.com on December 20, 2023.

Monday, December 11, 2023

How are sea ports constructed?

New Owendo International Port Gabon, 2019

Seaports are port facilities where ships load and unload cargo and passengers. Seaports are built adjacent to the coast. Not every coastal region is appropriate for this kind of building, though. Construction of ports involves extensive planning, funding, and labour in addition to execution and delivery experience.

We shall examine the various factors to be taken into consideration in the construction of seaports.

Requisites of Seaports:

Large financial commitment: Building a seaport is a costly endeavour that calls for a sizable financial commitment from the project owner. In addition, the building may involve the purchase of property, dredging, reclamation of land, specialist tools, and other significant costs that increase the required funds.

Project planning: A thorough analysis of several aspects, such as the environment, economy, finances, and technical viability, must be done. Following the feasibility study, the location needs to be chosen, evaluated, and approved. The judgement about the necessity of dredging is also included in the finalisation. At this point, obtaining regulatory clearances can also be necessary.

Dredging: Dredging occurs after the specifications have been finalised. Deepening water channels and berthing sites to make room for larger vessels is known as dredging. To make a navigable channel, this operation clears the sea bottoms of silt and debris.

Construction: Building docks, piers and quays large enough to hold the vessels is usually the first step in the construction process. The installation of freight handling equipment, such as cranes and conveyor systems, comes next. Along with the construction of navigational aids like lighthouses and channel markers, storage rooms and warehouses must also be built.

Putting security measures in place: The next stage is to create strong security models that incorporate fences, surveillance centres, and other elements.

Commissioning: After elaborate construction, the seaports undergo testing and commissioning to ensure all aspects of the seaport are working well.

This is the general procedure used to build seaports. One of the most well-known port construction companies in the world, Shapoorji Pallonji has built landmarks all around the globe. Over its more than 150-year history, Shapoorji Pallonji has constructed numerous ports, jetties, and marine projects. Go to www.shapoorjipallonji.com to find out more information about Shapoorji Pallonji.

Top 10 Real Estate Companies In Mumbai 2024

real Estate Companies In Mumbai

Mumbai has continuously been one of India’s fastest-growing real estate markets. This is because it is the financial hub of India and a popular destination for migrants and job seekers from other Indian cities. The post-pandemic economic recovery and the government’s beneficial policies have resulted in high demand for new residential projects. Indian Express reports that in August alone, Mumbai collected around 810 crore in income from over 10,000 registrations.

Credit also goes to well-known real estate developers who have built gorgeous, ultra-luxurious properties and affordable homes that appeal to different buyer demographics.

We will explore some leading real estate firms in Mumbai and their projects.

Shapoorji Pallonji Real Estate

Shapoorji Pallonji is one of the oldest construction enterprises in India, founded in 1865. With the first-ever residential complex in Mumbai to feature a swimming pool, they made their foray into the real estate market. They have since built other renowned residential developments across the nation. Shapoorji Pallonji has created premium properties like The Odyssey, The Minerva, The Designate, BKC 28, Vicnia, and Joyville Virar in Mumbai.

Website: https://www.shapoorjipallonji.com/business/RealEstate

Lodha Group

Founded in 1980, Lodha Group is one of Mumbai’s most well-known real estate companies. Like Shapoorji Pallonji, Lodha has developed premium residential properties all over India. Some of their projects include Bellissimo, The World Towers, and Lodha Altamount, among others.

Godrej Properties

Godrej Properties Limited, a subsidiary of Godrej Industries Limited, was founded in 1990. They have constructed many projects in Mumbai, including Godrej Avenue Eleven, Godrej Bliss Kandivali, and Godrej Five Gardens, among others.

Rustomjee

Founded in 1996, Rustomjee has built over a million square feet of residential and commercial spaces. Some properties you should check out are Rustomjee Erika, Rustomjee Crown, and Rustomjee Elements, among others.

K Raheja Group

The K Raheja Group is another real estate company with state-of-the-art developments in major cities of India. They have constructed luxury projects like the Raheja Ascencio, Raheja Vivarea, Raheja Vihar, and the Raheja Vistas in Mumbai.

Oberoi Realty

Another stellar real estate company, Oberoi Realty, has constructed some of the most luxurious and modern residential projects in Mumbai. Some of them include the Thirty Six West, Oberoi Garden City, and the ongoing Sky City in Borivali.

JP Infra

One of the most prominent developers in North Mumbai, an area that has seen rapid growth in demand for residential projects, JP Infra has constructed projects like North Barcelona, North Garden City, North Celeste, and North Imperia in Mira Road. Along with these projects, JP Infra has also built the Unity Towers in Worli and JP Decks in Goregaon.

Hiranandani Developers

Founded in 1978, Hiranandani Developers have built some of the most desirable properties in Mumbai like the Hiranandani Garden in Powai and the Hiranandani Heritage in Kandivali.

Piramal Realty

With over 13 million square feet of residential spaces constructed to date, Piramal Realty is another big player in Mumbai’s real estate sector with properties like Piramal Mahalakshmi, Piral Aranya, and Piramal Revelta.

Sunteck Realty

Sunteck Realty has about 32 properties in Mumbai that focus on providing luxury to aspiring homeowners with projects ranging from beach residences in Vasai to the uber-luxurious apartments at Signature Island in BKC. They aim to provide a sophisticated living for all budgets through projects across the city.

Stamp Duty and Registration Charges in Pune 2024

There’s a lot that goes into purchasing a property. Besides the valuation of the unit alone, there are fees like Stamp Duty and Registration Charges that one has to consider that inflate the value of the property. However, these charges exclude the selling price of the property and constitute additional payments.

Understanding Stamp Duty

Stamp Duty alone is a tax from the state government on the property before even the transaction has occurred. For Pune, the state government of Maharashtra decides the stamp duty charges. They come into play for sales deeds, conveyance deeds, lease deeds etc., and make the transaction official and legally binding. According to NoBroker, the stamp duty in Pune can range from 4% to 8% of the property value.

Understanding Registration Charges

Registration charges, on the other hand, are the fees paid for registering the property under the buyer’s name. This process provides legal sanctity to the property transaction. The registration charges in Pune typically range from 1% to 2% of the property value.

In Pune, the state government of Maharashtra enforces registration and stamp duty charges that are contingent upon specific factors:

Property type: The tax applicable to commercial properties exceeds that of residential homes.

Location: The property’s geographical location significantly influences the tax charges, with rural and semi-urban areas generally incurring lower stamp duty and registration charges in Pune.

Market value: The calculation of current stamp duty and registration charges considers both the total area and the property’s market value.

First-time home buyers: Individuals buying a home for the first time are eligible for a maximum of Rs. 2.5 lakh exemption on their stamp duty.

If you are looking for properties in Pune, while considering the different scenarios at hand, the total cost, as seen for the year 2021-22, would include:

· Stamp duty – 4%

· Local Body Tax (LBT) – 1%

· Transport Surcharge – 1%

Registration Charges in Pune depend on the market value of the property. Assets that fall below Rs. 30 lakh incur a charge of 1% of the total value; whereas values exceeding Rs. 30 lakh attract a flat fee of Rs. 30,000.

While these discussed factors offer an overview to homebuyers on what they can expect to pay as taxes on their properties, the government still provides a more straightforward way to make calculations on your own. The Stamp Duty Calculator, provided by IGR Maharashtra, is one way to receive accurate numbers. Besides this, the government even offers an option to pay your Stamp Duty and Registration Fees online.

Just log on to https://gras.mahakosh.gov.in/igr/frmIndex.php and you will be directed to the respective payment pages.

Stamp Duty and Registration Fees for 2024

When purchasing a home in Pune, a city that offers some of the best residential, commercial, educational and health infrastructure, Joyville by Shapoorji Pallonji Real Estate brings the best on offer with 8 exclusive projects catering to discerning homebuyers’ tastes.

For residences here, the stamp duty and registration expected for the year 2024 will be influenced by factors like whether the property is being intended as an investment or personal use, whether the buyer is a senior citizen or not, women have to pay 1% less stamp duty and also the location of the property. For more details on projects in Pune, please visit: https://www.joyvillehomes.com/celestia/