www.arundevelopers.com

2012/11/15

What makes Talegaon so attractive ?


What makes Talegaon so attractive ?

The location of Talegaon in Pune is bang in the middle of the three cities – Mumbai, Nashik and Pune. Talegaon is situated on the Mumbai-Pune highway and enjoys favourable connectivity. As a result,
many companies have swooped down to invest in Talegaon. Investment by these companies has created a large employment base for the citizens and as a result they have flocked to Talegaon.
The industrial belt of Chakan (Chakan MIDC) and the automobile manufacturing hub are the main drivers of employment in Talegaon.

Some of the opportunities in Talegaon real estate market are created by :
Larsen and Toubro opening its plant
Bajaj and Jindal setting up facilities
General Motors producing the Chevrolet Beat and Spark at Talegaon in Pune
Talegaon is also very favourably placed from the important location of Hinjewadi which happens to be the major IT hub of Pune. The fact that close to 40,000 IT professionals are expected to work in Hinjewadi and that Talegaon is around 30 minutes away from it (approx 20 kms), makes Talegaon a hot destination among IT professionals.

The climate of Pune and Talegaon are ideal for residential housing. Compared to Mumbai which is around 2.5 hours away, Pune boasts of a hill station like climate.

Talegaon’s proximity to Mumbai via the Mumbai-Pune expressway gives Talegaon a major advantage in the Pune real estate market. In fact, the old Mumbai-Pune highway also offers good connectivity to Talegaon. Given this, Mumbaikars come down to Lonavala and Talegaon more often and many have based Talegaon as their weekend homes.

Another thing to note is that not only Mumbaikars but many Puneites are also making Talegaon their weekend destinations leading them to invest in their second homes. The pollution free climate and scant population make it a very attractive getaway. Obviously, this will not be the same forever and it is a matter of few years before Talegaon goes the same way as other parts of Pune have gone – sky rocketing prices and the unavoidable hustle bustle.

The infrastructure of Talegaon is undergoing massive changes. Residential societies are creating demand for basic amenities like schools and hospitals. Over the next few years, the availability of malls, schools and hospitals will increase significantly.


The property rates in Talegaon vary between 2200 psf (per square foot) to 3000 psf. This is on the lowest side in the Pune proprty market. In fact, Chakan also demands the same rate as Talegaon. So does Wagholi.
As far as properties for investment go, you could possibly be spoilt for choice. There are innumerable Pune real estate builders like the Siddhivinayak Group, Disha Direct, Om Developers, Naiknavare and Associates and many more who have thrown their hat in the ring and have launched residential projects. The one you cannot miss is Tata’s La Montana which has a plethora of amenities thrown in.
With so many builders jumping in the fray, you have apartments of all sizes and types available for you – 1BHK, 2 BHK, 3 BHK. Not to mention bungalows, villas and farmhouse plots. It’s all happening in Talegaon.

The residential demand in Talegaon will be on the rise in the future. In the Pune real estate market, Talegaon stands poised to hold its promise of safe returns over an extended period of time.
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What makes Talegaon so attractive ?

The location of Talegaon in Pune is bang in the middle of the three cities – Mumbai, Nashik and Pune. Talegaon is situated on the Mumbai-Pune highway and enjoys favourable connectivity. As a result, many companies have swooped down to invest in Talegaon. Investment by these companies has created a large employment base for the citizens and as a result they have flocked to Talegaon.

The industrial belt of Chakan (Chakan MIDC) and the automobile manufacturing hub are the main drivers of employment in Talegaon.
Some of the opportunities in Talegaon real estate market are created by :
Larsen and Toubro opening its plant
Bajaj and Jindal setting up facilities
General Motors producing the Chevrolet Beat and Spark at Talegaon in Pune
Talegaon is also very favourably placed from the important location of Hinjewadi which happens to be the major IT hub of Pune. The fact that close to 40,000 IT professionals are expected to work in Hinjewadi and that Talegaon is around 30 minutes away from it (approx 20 kms), makes Talegaon a hot destination among IT professionals.

The climate of Pune and Talegaon are ideal for residential housing. Compared to Mumbai which is around 2.5 hours away, Pune boasts of a hill station like climate.

Talegaon’s proximity to Mumbai via the Mumbai-Pune expressway gives Talegaon a major advantage in the Pune real estate market. In fact, the old Mumbai-Pune highway also offers good connectivity to Talegaon. Given this, Mumbaikars come down to Lonavala and Talegaon more often and many have based Talegaon as their weekend homes.

Another thing to note is that not only Mumbaikars but many Puneites are also making Talegaon their weekend destinations leading them to invest in their second homes. The pollution free climate and scant population make it a very attractive getaway. Obviously, this will not be the same forever and it is a matter of few years before Talegaon goes the same way as other parts of Pune have gone – sky rocketing prices and the unavoidable hustle bustle.

The infrastructure of Talegaon is undergoing massive changes. Residential societies are creating demand for basic amenities like schools and hospitals. Over the next few years, the availability of malls, schools and hospitals will increase significantly.


The property rates in Talegaon vary between 2200 psf (per square foot) to 3000 psf. This is on the lowest side in the Pune proprty market. In fact, Chakan also demands the same rate as Talegaon. So does Wagholi.

As far as properties for investment go, you could possibly be spoilt for choice. There are innumerable Pune real estate builders like the Siddhivinayak Group, Disha Direct, Om Developers, Naiknavare and Associates and many more who have thrown their hat in the ring and have launched residential projects. The one you cannot miss is Tata’s La Montana which has a plethora of amenities thrown in.
With so many builders jumping in the fray, you have apartments of all sizes and types available for you – 1BHK, 2 BHK, 3 BHK. Not to mention bungalows, villas and farmhouse plots. It’s all happening in Talegaon.

The residential demand in Talegaon will be on the rise in the future. In the Pune real estate market, Talegaon stands poised to hold its promise of safe returns over an extended period of time.
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2012/11/04

Credai fears slew of VAT-related litigation - The Times of India on Mobile


http://m.timesofindia.com/city/pune/Credai-fears-slew-of-VAT-related-litigation/articleshow/17070409.cms


Credai fears slew of VAT-related litigation - The Times of India on Mobile


PUNE: The Confederation of Real

Estate Developers Association of India (Credai), Pune Metro, said on Friday that the state government's decision to stick to its stand on the Value Added Tax (VAT) on residential properties in the state - sold during the period June 2006 to March 2010 - will lead to multiple legal cases and cause ill-will between the developers and home buyers.


After the Bombay high court declined to interfere with the state's discretion to decide the tax rate October 30 and the state refused to change the rates it had declared earlier, realtors across the state had to rush to pay VAT on October 31.


Satish Magar, president, Credai, Pune Metro, said the developers have begun remitting their VAT liability though some couldn't remit their entire dues before the deadline. "WThe process of paying the tax is on and we have requested the sales tax authorities to condone the delay as their own system could not accept the rush of remittances which kept coming through the night of October 31," he said.


While that issue is solved separately,


Meanwhile, Credai members will have to now recover VAT which they paid on behalf of the apartment owners. Trashing the claims of some consumer organizations that it was not the customer but the developer who was liable to pay VAT, Magar said VAT is an indirect tax and like all indirect taxes the 'dealer' (a developer in this transaction) has to collect it from the customer.


Magar said the assessment of the VAT returns, which the developers have filed, and the recovery of the tax from customers are likely to lead to prolonged litigation. "Rule 58 of the Sales Tax Rules suggests three methods to determine the base value of an apartment for calculation of tax. We have followed the method that causes the lowest burden on a customer, but the sales tax officers may demand tax based on the method that gives the highest amount. This will certainly be subject of appeals and court cases which will take years to reach a solution."


On the other hand, the customers are agitated and apparently in no mood to pay anything as VAT dues, so the developers may have to resort to legal remedies such as civil suits for recovering the tax, Magar pointed out. "The Supreme Court has upheld the state's approach to the issue and the customers will have to ultimately pay up, though considerable delay and bitterness will mark this process," Magar said.


Highlighting the complexity of calculations necessary to arrive at the VAT amount for each apartment, Magar said, "The state has over 10,000 dealers who have to file 26 quarterly returns to fulfill their obligation to pay VAT. This works out to 2,60,000 returns for the sales tax officials to scrutinize. Also, as each apartment is sold at different points in time and at different stages of construction, the base value for working out VAT will be different for every apartment."


Credai had pleaded with the Bombay high court that the state be directed to modify the rate of tax to a flat 1% on the agreement value, which it is charging on transactions done on or after April 1, 2010, anyway. The court asked the state's counsel if this was acceptable and when the state declined the suggestion, dismissed the developers' case.


Magar said Credai would continue to follow up with the state government their request to modify the VAT to a flat 1%.