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What Our Clients are Saying

Dont just take our word

Mr.Shailesh Goel

It’s a pleasure to get well-planned and well-managed commercial services like we get in Abhishree Corporate Park. We are happy to have our office with best of amenities in the block and the surrounding area. Our employees are enjoying their work because of the excellent atmosphere. I would like to express my appreciation for the services in Abhishree Corporate Park to Sarthav Group . The next commercial office I invest will have the Trademark name of “Abhishree”. I am looking forward to maintain our relationship with Sartav Group for many years to come.

Mr.Kishor Singh

I had been looking to invest in India for a while, but making a choice was a difficult task, as real estate is a big money investment. Having this in mind, I had come down to India for a wedding in the month of December of 2008, during this time I came to know about Abhishree Residency-2, through one of my cousins.
I visited Sarthav Group’s office the following morning to know more about the project, I was impressed by the way I was guided by the officials working there. All my doubts and worries were sorted out by them in a very friendly way. After I had made a decision to buy the property, I was given a constant support and help whenever needed, especially with the legal issues and construction updates.
I am glad I made an investment in the Abhishree Residency-2, as the value of the property has appreciated in a brilliant manner. I guess if I make another investment in India, I will probably go with Sarthav Group and I would recommend them to my friends and family back in the UK as well.

News

GST affect on homebuyers

The Goods and Services Tax (GST) could bring in transparency in the functioning of the real estate sector and even reduce the cost of ownership of homes for buyers, especially if the GST rate is lower than all the current rates put together.

These consultants, however, said there’s one problem in the Model GST Law for the sector that has been overlooked so far, and this issue could increase the total tax (including stamp duty) , a homebuyer in the end will pay 20-22% more for the property value as opposed to the 14% currently.

In cases where the end product made available is made using goods/services the gst law wouldnt be applicable

“Input tax credit shall not be available in respect of goods and/or services acquired by the principal in the execution of works contract when such contract results in construction of immovable property, other than plant and machinery,” said the model bill. In the case of builders making homes, the end product is a building which is an immovable property.

“This would mean multiple taxation on homebuyers as the builder will pass on non-creditable tax to home buyers even as they pay GST on the consideration charged to them for the home and then stamp duty for registration,” said Abhishek Jain, tax partner at EY India.

According to back-of-the envelope calculations, homebuyers will end up paying around 20-22% in total tax compared to 14-16% if builder gets tax credit.

Prashanth Bhat, partner at BMR & Associates, however, said that under GST, credits will be denied to developers building commercial properties but it should not impact residential property developers. Builders ET spoke to were unclear about this aspect in the Model GST Law but said that it will be a negative if they were not allowed input tax credit.

Getamber Anand, national president of industry body CREDAI, said GST could reduce harassment that is there today due to multiple taxes. “It will create a level playing field for sure.” GST will replace the many different taxes that builders currently pay, many of them bordering on double taxation, with one single tax.

Anand, however, also said that if credit on input tax is not allowed to builders, it will get added to the price of the property and impact home buyers.

In the end the compliance cost of multiple taxes will reduce the overall cost for the developer .

Abhishree Orchard is a 400 Bungalow Project by Sarthav Group.

Real Estate Regulatory Bill

The Ministry of Housing and Urban Poverty Alleviation has put out in the public domain draft rules of few sections of the Real Estate (Development and Regulation) Act, 2016 in five Union Territory
Project status updates

The promoter will be required to upload updates on the webpage of the project within seven days detailing all the aspects of the project and their information.
That is great in terms of the information provided to the buyer, but for all the new projects, the developers incorporate these details in the buyer’s portal or their mobile application

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Property Bill

Property in ahmedabad

Real Estate Bill Corporate Bill

Is the real estate bill/property bill needed in India

Most awaited bill gets nod of both houses, but do you think it was really needed? Here is all the thing you need to know about the bill

Let’s have a short brief on Real Estate Industry and Real Estate Bill:

The real estate industry is one of the industries that have been operated in a biased

manner towards the developer community. India was facing a severe housing shortage,

rather I would say it’s still facing the shortage and on the other hand, buyers are put off

by sky-high Real Estate prices and the unscrupulous practices of many developers. So

far, the buyers were coerced to consent to single sided contract terms as created by

their builders because they did not have any other options.

With the liberalization of the economy, conscious encouragement was given to the

growth of the private sector in construction, with a great deal of success, and the sector

today is estimated to contribute nearly 6% of India’s GDP.

To overcome this unscrupulous condition, the need for a Bill concerning real estate was

felt and thus, for the first time; the Real Estate (Regulatory and Development) Bill was

first introduced by the Indian National Congress government in 2013. And surprisingly it

get passed too early as compare to other important bill such as GST and Land

Acquisition bill. But I don’t know why any government did not felt to bring such a wide

industry under any regulation for so long.

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