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adProperty News For February 2008

     
 
Property show in dubai
Source : The Hindu Property Plus Published On : 2008-02-09 City : Chennai

Builders and Developers from the State have an opportunity to showcase their properties for the first time in UAE.

Sharp & Shine Management Consultancy, Dubai is organising Andhra Pradesh Property Show at Renaissance Dubai Hotel from May 1 to 3.

The city-based Aditya Communications is a strategic partner for the event in UAE which the organisers described as the second largest destination for NRIs from the State....

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Safety at site
Source : The Hindu Property Plus Published On : 2008-02-02 City : Chennai

A majority of accidents occur because of improper scaffolding, writes - PAUL COMRIE

India’s contractors and engineers are often faced with a poorly educated work force in the construction industries, according to industry panelists in a conference held at the Indian institute for Lab our in Chennai last week. This is just one of many contributing factors to the difficulties associated with health and safety in the building trades.

Industry specialists from both the private and public sectors spoke on issues as far ranging as fire prevention, electrocution and the safety challenges of adopting to an era of multi-storey construction....

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Service tax on rental income
Source : The Hindu Property Plus Published On : 2008-02-02 City : Chennai

Renting of immovable property is considered a service and has been included in the list of taxable service, finds out C.H. GOPINATHA RAO

Service tax is a form of indirect tax imposed on specified services called ‘taxable services’. The system of levying service tax in our country was introduced in 1994. Initially services of telephones, non-life insurance and stock brokers were brought under the service tax net.

The revenue collected through service tax increased form Rs.407 crore in 1994-95 to Rs. 23,000 crore in 2005-06. The service tax net has been widened further over the years, and more and more services were gradually added. As on date, about 104services attract service tax....

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Settlement deed made simple
Source : The Hindu Property Plus Published On : 2008-02-09 City : Chennai

The execution of Will has its own hassles in identifying a reliable person to be the executor and involves expense, writes C.H. GOPINATHA RAO

Imagine a senior citizen who owns a house, acquired out of his earnings. If he wants to give his house to his younger son over the elder one, he has the option of executing a Will or make a settlement retaining life interest. The execution of Will has its own hassles in identifying a reliable person to be the executor and involves expense. The Will is to be probated for which court fee is to be paid (The probate of Will is mandatory for the properties situated at Chennai, Mumbai and Kolkatta.)

The better option in this case would be to execute a settlement deed in favour of the younger son. The senior citizen can retain the life interest of residing and letting out the same for rents and enjoying the rental benefits and other profits accruing there from during his life time along with his wife. In the event of his wife surviving after his life time, the said property will devolve on her and she will be at liberty to retain her life interest of residing and enjoying the said property during her life time by letting it out for rents and receiving the rental and other benefits without having any right to alienate, encumber and mortgage....

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Will the housing sector benefit
Source : The Hindu Property Plus Published On : 2008-02-09 City : Chennai

Are the plans for the Union Budget, including the issues relating to real estate sector, been upset by the stock market mayhem, asks K. SUKUMARAN

An ‘all set’ platform for the Union Budget for 2008-09 was ready till January 21 when the stock market spoiled the Finance Minister P. Chidambaram’s party, though he may not agree with this.

Some may say that our economy is quite resilient and independent of the American economy and that we will grow at 9-11per cent at any cost....

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