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Sarthi Shilp near Ekalavya college

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Sarthi Shilp near Ekalavya college

Last updated: August 28 2010
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  • #41

    #41

    Re : Sarthi Shilp near Ekalavya college

    Hi all,

    I have a one query regarding service tax. Service tax is calcualted on 25% of agreement value that is excluding construction and land costs. And it is approx 10% so effectively it would be 2.5% of total agreement value.But government also mentions that service tax will be considered based on how much costruction of the property is complete at the time of registration. So let us say when i book flat it is 90% complete then how much my service tax will be. Right now i am consiering 10% is applicable. Then remove 7.5% from that for land and consturcion cost.So remains 2.5%. And then 10% of this 2.5% so it comes down to 0.25%.. I mean I do not know wheather this evaluation is correct or not it is just my thinking ... please validate.. Also does anybody have got exact formula of how to calcualte stamp duty for pune.. i searched on net for this there are some calculators but there value is not matching value quoted by builder.

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    • #42

      #42

      Re : Sarthi Shilp near Ekalavya college

      Originally posted by realacres View Post
      I completely agree with abeer 100%.

      +1 to this as well. Man, you pined down what I had in my mind . Never marry the person who sees you based on the clothes which you wear & fortunately, I am able to hide what I do from most of the people around, so they always under-estimate me, which in turn proves to be useful to check how the person is & this I am not saying based from marriage perspective but as a human being in general. I have multiple types of watches, goggles, sho_es, cell fones etc. & use the specific ones based on the location the people whom I visit. To judge some person, always carry the most normal things which you have & then see the response, it helps .

      Man, if people respect you because of your clothes, then what have you earned in REAL TERMS? Nothing.

      Focus on 'Sirat' rather than 'Surat'. Buy if it makes you happy without over-leveraging, but if you are buying to increase your TAG PRICE, then it is bad decision. Seen couple of cases where a girl ditched her boy friend just because she got some richer option, but you know these type of people can be PURCHASED OUTRIGHT (I call them 'The Disposable Types, use & throw), settle with someone who will not leave you for infinite sum of money & gets hitched not because of your bank balance.

      I know this is not directly related to RE but it is to your life, & life is more important than RE. Think.....
      I very well know that there is no point to marry someone who is more into money than you. But the fact of the matter is Aishwarya rai wont marry me even if i will love her 100 times more than junior AB. Or i wont marry a poor girl by the road side. Thats how it works wheather we accept it or not.and how many end up marrying who they really love may be 1%. So every thing is business at the end of the day.Yes there could be some chemistry involved is some couples but it would not be idealistic love it would be more of abberation of it.I guess I am very critical about the thing but I always belive love should be uncondtional and that never happens ... if i slap my wife/GF she will slap me back and vice versa (she/he would not forgive bcos he/she loves).. so its give and take
      and give and take is business for me.. love should be just give.. well its different story all together we better talk abt RE than philosphy

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      • #43

        #43

        Re : Sarthi Shilp near Ekalavya college

        Agree 100% that you should be "well settled" for girls to consider you as marriage material. Just love does not cut it.
        But want to say that buying a flat at this price and with your downpayment, emi ratio, etc might make you "unsettled" financially rather than "well settled".

        A person who has lots purchasing power (cash in bank) is more "well settled" in todays chaotic RE situation, rather than someone who has bought near the top of the market.

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        • #44

          #44

          Re : Sarthi Shilp near Ekalavya college

          Originally posted by rameshbende View Post
          I very well know that there is no point to marry someone who is more into money than you. But the fact of the matter is Aishwarya rai wont marry me even if i will love her 100 times more than junior AB. Or i wont marry a poor girl by the road side. Thats how it works wheather we accept it or not.and how many end up marrying who they really love may be 1%. So every thing is business at the end of the day.Yes there could be some chemistry involved is some couples but it would not be idealistic love it would be more of abberation of it.I guess I am very critical about the thing but I always belive love should be uncondtional and that never happens ... if i slap my wife/GF she will slap me back and vice versa (she/he would not forgive bcos he/she loves).. so its give and take
          and give and take is business for me.. love should be just give.. well its different story all together we better talk abt RE than philosphy
          Atleast in my family, everyone build their houses post marriage, & note that these are really good ones, 5-6BR bungalows . Infact, on this forum, Harish (harishkulks) can be taken as an excellent example.

          Btw, as far as Aish is concerned, man, why are you interested in second or third hand piece?? These are disposable types. There are much better options elsewhere .
          Originally posted by rameshbende View Post
          Hi all,

          I have a one query regarding service tax. Service tax is calcualted on 25% of agreement value that is excluding construction and land costs. And it is approx 10% so effectively it would be 2.5% of total agreement value.But government also mentions that service tax will be considered based on how much costruction of the property is complete at the time of registration. So let us say when i book flat it is 90% complete then how much my service tax will be. Right now i am consiering 10% is applicable. Then remove 7.5% from that for land and consturcion cost.So remains 2.5%. And then 10% of this 2.5% so it comes down to 0.25%.. I mean I do not know wheather this evaluation is correct or not it is just my thinking ... please validate.. Also does anybody have got exact formula of how to calcualte stamp duty for pune.. i searched on net for this there are some calculators but there value is not matching value quoted by builder.
          Don't get confused man. On the AGREEMENT VALUE, the ST is 2.58%. As simple as that.
          If you are happy, you are successful.

          Comment

          • #45

            #45

            Re : Sarthi Shilp near Ekalavya college

            Originally posted by realacres View Post
            Atleast in my family, everyone build their houses post marriage, & note that these are really good ones, 5-6BR bungalows . Infact, on this forum, Harish (harishkulks) can be taken as an excellent example.

            Btw, as far as Aish is concerned, man, why are you interested in second or third hand piece?? These are disposable types. There are much better options elsewhere .

            Don't get confused man. On the AGREEMENT VALUE, the ST is 2.58%. As simple as that.
            Real...i think that is the difference in thinking.....yr family can afford 5-6BR bungalows so yr Soch will be different that Mnago man like us...

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            • #46

              #46

              Re : Sarthi Shilp near Ekalavya college

              Originally posted by kothrud_pune View Post
              Real...i think that is the difference in thinking.....yr family can afford 5-6BR bungalows so yr Soch will be different that Mnago man like us...
              As said before, no one in our family was born with go_lden or silver or steel spoon. All have made it on their own & I feel happy about this. Fact is, it was save + invest in initial years & buy when you have everything but a house. As far as building big houses is concerned, it was only out of the sheer fact that more calculated risks gave more return & hence the result. Imagine the interest you pay to bank in first 5 yrs & think what can you do by simply saving this EMI amount for 5 yrs. I am saving & investing for past 3.5 yrs & trust me it has helped a lot .

              Hope you got the point.

              * PS:- No one bought a house at the age of 25!!
              If you are happy, you are successful.

              Comment

              • #47

                #47

                Re : Sarthi Shilp near Ekalavya college

                Originally posted by realacres View Post
                Don't get confused man. On the AGREEMENT VALUE, the ST is 2.58%. As simple as that.
                How come i have to pay entire ST amount. Because the rule says ST wont be applicable to ready possession then how come they apply full ST when property is almost complete. This is complete injustice bcos if somebody books the flat 2 years ealier to possesion then he will pay entire amount of ST fine. But he is getting atleast 10-15% cheaper than when flat is close to ready possession and if somebody books the flat just couple of month before possession then he will have to pay entire ST and how come he is getting any service in this case bcos he will be booking in leftovers flat .. i do not think ST will be fully applicable. Can u double check this if u have some sources.. pretty much everybody I have touched upon have no clue

                Comment

                • #48

                  #48

                  Re : Sarthi Shilp near Ekalavya college

                  Originally posted by rameshbende View Post
                  How come i have to pay entire ST amount. Because the rule says ST wont be applicable to ready possession then how come they apply full ST when property is almost complete. This is complete injustice bcos if somebody books the flat 2 years ealier to possesion then he will pay entire amount of ST fine. But he is getting atleast 10-15% cheaper than when flat is close to ready possession and if somebody books the flat just couple of month before possession then he will have to pay entire ST and how come he is getting any service in this case bcos he will be booking in leftovers flat .. i do not think ST will be fully applicable. Can u double check this if u have some sources.. pretty much everybody I have touched upon have no clue
                  Man, ready possessions doesn't mean ready physically but having completion certificate from PMC. If the project is ready but doesn't have completion certificate, it is considered under -constro in legal terms. I suggest you use search option & get the details about service tax.
                  If you are happy, you are successful.

                  Comment

                  • #49

                    #49

                    Re : Sarthi Shilp near Ekalavya college

                    Originally posted by rameshbende View Post
                    How come i have to pay entire ST amount. Because the rule says ST wont be applicable to ready possession then how come they apply full ST when property is almost complete. This is complete injustice bcos if somebody books the flat 2 years ealier to possesion then he will pay entire amount of ST fine. But he is getting atleast 10-15% cheaper than when flat is close to ready possession and if somebody books the flat just couple of month before possession then he will have to pay entire ST and how come he is getting any service in this case bcos he will be booking in leftovers flat .. i do not think ST will be fully applicable. Can u double check this if u have some sources.. pretty much everybody I have touched upon have no clue
                    Dear rameshbhende,
                    If your flat is near to possession then you must have paid substantial amount prior to 1st July 2010. So you need to pay ST ONLY on the balance amount i.e. 10-15%.
                    Jitendra Pethkar | Pethkar Projects

                    Comment

                    • #50

                      #50

                      Re : Sarthi Shilp near Ekalavya college

                      Originally posted by Jitu_Sir View Post
                      Dear rameshbhende,
                      If your flat is near to possession then you must have paid substantial amount prior to 1st July 2010. So you need to pay ST ONLY on the balance amount i.e. 10-15%.
                      My point here is i am about to book now let us say in property. Now ST is applicable after 1st of july. So i will have to pay ST. My question is if i am booking now in the property which is under construction but its construction is 90% complete then do i have to pay ST on entier 100% or rest of the 10%. The question come from the fact that ST is applicable for under construction flat only but not for ready possesion. Here govt is giving justification that ST is applicable bcos bulider providing service to customer. Now my point is if i invest now let us say in a scheme which will let us say complete in 2years time then i am applicable for ST and i am fine with that.Bcos i get to book property at lower rate as it is not ready. But now if i invest in property which is almost complete let us say 90-95% then do i have to pay tax on entire 100% or remaining 5-10%. I can justify this bocs property almost complete and i will be booking in much higher rate bocos it is close ready possession. So there has to be provision in the rule about the status of construction at the time of booking. I hope i am making sense now.

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