You may have to Pay Double Tax, If have an empty house?

You May Have To Pay Double Tax, If Have An Empty House in Maharashtra. Because recently Maharashtra gov. came with an ideas – Have an empty house? You may have to pay double tax. Maharashtra governments think about current real estate scenario in many places and city. Because many people just investing in real estate and that business minded approach in real estate industries create only hype of demands. Ultimately those investors homes and flats became empty and end user or actual user need to pay more or can’t afford those empty house.

Vacant Or Empty House : Pay Double Property Tax

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If you own a house and it is unoccupied, you may soon have to pay a new tax – the vacant apartment tax— which will be double the amount levied on the property at present.

The proposal in the state government’s draft Maharashtra State Housing Policy aims to tackle the rental housing problem in Maharashtra. This move will open up approximately 4.79 lakh empty house in Mumbai in the rental market.

The draft document states, “In order that the vacant / empty house / flats and plots are put to use, there should be double taxation… This will deter the tendency to maintain the plot and the flat vacant for speculative gains.”

Real estate experts welcomed the move. “We talk of housing shortage, but the number of vacant houses are increasing by the day. The move is necessary,” said Pankaj Kapoor, CEO, Liases Foras, a real estate research firm. “With an increase in number of houses in the market, the high rentals will be moderated.”

Yeshwant Dalal, president, Estate Agents Association of India, said, “Most of the vacant houses are owned by investors who have purchased for speculative gains.”

According to Dalal, keeping such flats will no longer be lucrative, as the owners will have to shell out a lot of money. Senior officials from the housing department said the additional tax will encourage rental housing scheme, which is practised widely across other countries.

“Also, it will increase the revenue of the exchequer,” said an official, requesting anonymity. With real estate prices reaching the sky, several homebuyers have postponed their purchase plans and switched to rental housing. However, because of limited supply, these people have to shell out high rentals.

So, Friends as per my perosnal opinion, this is a really good steps about Empty House – Double Tax rule. This rule really help middle class and lower middle class people for getting house in metro city.

At the same time i would like to put some current issues in your attentions,

  • – What about Parking Space Rule : Have a Parking Space then You allow to buy a car.
  • – Civic Amenity Benefits : Only if you complies to Civic or local body rules.
  • – Corruption : Control and eliminate corrupt people in building industries.

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