Realty Blogs

VK GROUP Since its inception in 1973, VK Group has been instrumental in shaping the architectural and urban landscape of modern Indian cities, particularly in oestern and southern India. As one of India’s oldest and most respected frms, oe have groon to offer services in environmental design, urban design, architectural design, interior design, and operations services. These verticals – VK:a architecture, VK:e environmental, VK:i interiors, VK:o operations, and VK:u urban – collectively uphold their ethos of multidisciplinary offerings under one roof. Visionaries driving the Growth: AR. VISHWAS KULKARNI Founder and Partner at VK:a With over ifve decades of expertise, Vishwas Kulkarni has transformed Pune’s architectural landscape through award-winning projects and active contributions to policy and mentorship in AESA, IIA Pune, and other organizations.   AR. HRISHIKESH KULKARNI Partner at VK:a; Founder and Partner at VK:e , VK:u, VK:i MA Environment & Energy, Member, Architectural Association, London, BREEAM QA. Holding Directorship across all verticals, Hrishikesh Kulkarni utilizes 25+ years of experience to drive design and technical delivery with innovation, a global outlook, and a passion for technology and collaboration.   DR. POORVA KESKAR Co-Founder and Partner at VK:e environmental; Trustee, Sustainability Initiatives; IGBC Chairperson, Pune Chapter; LEED AP, TERI GRIHA Evaluator and Trainer, ECBC Master Trainer An architect, environmental designer, and educator with 25+ years of experience, Poorva Keskar specializes in climate-responsive and sustainable architecture, contributing as an expert on esteemed boards and committees.   AR. ANAGHA RAJ PUROHIT Co-Founder and Partner at VK:e environmental; Trustee, Sustainability Initiatives. M.Arch – Environmental Planning, ASU, USA; GRIHA Trainer, IGBC Evaluator. An architect and urban environmental planner with 20+ years of experience, Anagha Purohit’s professional work span across nations like USA, and Sweden and actively contributes to professional bodies, including GRIHA, BEE, IIEC, PBAP, CERDAI, and USAID.   APOORVA KULKARNI Head of Operations at VK Group. Trustee, Sustainability Initiatives. B Commerce, MBA (Marketing), Member of CIM (Chartered Institute of Management) UK Apoorva Kulkarni leverages 15+ years of experience to cultivate a high-performance, employee-focused culture at VK while excelling in process-driven management, PR, operations, and ISO certiifcation.   AR. VIJAY SANE Co-Founder and Partner at VK:u urban. Grad. Financial Markets & Property Investment, FINSIA, Sydney Afifliate member, Singapore Institute of Planners With 20+ years of international expertise, Vijay Sane excels in master planning, project management, and ifnancial oversight, highlighted by his work with Philip Cox and a published white paper on megaproject management. CONTACT US: 020 6626 8888

International Property HARMONIA – City Garden Pattaya Treasures for Your Life Discover the exquisite Harmonia City Garden Condominium, a masterpiece of European architectural design nestled in the heart of Pattaya. This luxurious development seamlessly blends opulent living with a healthy lifestyle, personal wellness, and a genuine connection to Pattaya’s unique natural beauty. Our magnificent condominium complex offers an unparalleled quality of life, featuring stylishly designed condos that evoke happiness and fulfillment. The ground floor boasts expansive communal areas and recreational spaces, including a breathtaking swimming pool that encircles the entire complex, lush gardens, and more. This superb low-rise complex, adorned with welcoming decor, immerses you in an island-inspired ambiance, fostering a sense of harmonious balance. Harmonia comprises buildings with eight floors, each surrounded by pools, fountains, walkways, and gardens. Convenient underground parking provides easy access to various facilities, including restaurants, cafes, massage shops, and a rooftop bar with a garden landscape. This true oasis of five-star leisure and healthy lifestyle living offers an island vibe within one compound. Located in a prime central area of Pattaya, Harmonia City Garden ensures the happiness and lifestyle you deserve. It is conveniently close to all essential establishments for you and your family’s daily needs, with easy access to Pattaya’s popular attractions. Harmonia City Garden offers spacious one and two-bedroom units designed to evoke happiness and fulfillment. Located in Central Pattaya, it provides a tranquil, natural environment within four distinctive buildings: Castro, Diamond, Apus, and Bella. Our luxurious project features five-star facilities, promoting harmony between people and nature. The first floor fosters a sense of connection, while the upper floors continue to offer serene and fulfilling living spaces. Harmonia City Garden is the ideal place for a healthy, thriving lifestyle. Contact Us: +66 6-1985-7437 Commercial Property AP4 Tech Park by Amar Builders & Pristine Properties – Pune East AP4 Tech Park,a Pre-Certified IGBC Platinum Rated*, an IT Park located in Kharadi, spans over 17.35 acres and offers a range of IT Office Spaces. The expansive IT Park development has meticulously designed wings offering IT Office spaces of approx. 4 Million Sq.Ft. of Self-Sustained Campus. Configuration & List Price IT Offices – Each Unit Ranging from 13,615 Sq.Ft – 18,033 Sq.Ft Start at 18.10 Cr + Govt.Taxes.   Ambrosia Galaxy by Divyasparh Group – Pune West Ambrosia Galaxy is a boutique commercial project located at Pancard Club Road, Baner, Pune, offering premium office spaces with modern infrastructure. Strategically positioned near major highways and business districts, it ensures seamless connectivity. The project focuses on creating a vibrant work environment that fosters innovation and well-being. With state-of-the-art facilities and professional management, Ambrosia Galaxy supports business growth and success. Configuration & List Price Commercial Offices – Each Unit Ranging from 457 Sq.Ft – 1386 Sq.Ft Offices start at 1 Cr + Govt.Taxes.

TDS applicability on property sale transactions by non residents (NRI’s) As per Indian Tax Laws, TDS provisions apply on various financial transactions in India. TDS is also applicable on Property Sale Transactions in India. In relation to property sale matter, if the seller is Resident Indian, TDS rate is 1% and governed by Section 194IA. However, if the seller is Non-Resident (i.e. NRI, OCI, Foreign Residents), TDS is governed by Non-Resident TDS provisions i.e. section 195. Under the Non-Resident TDS provisions i.e. Section 195, TDS rates apply at the maximum rates on the Sale Amount of Property. This Rate is 12.5%, if property is Long Term Capital Asset. If the Property is Short Team Capital Asset the tax will apply as per regular slab rates maximum being 30%. Subject to, Applicable surcharge and 4% cess is extra.   TDS Rate and Difficulties on Non-Resident Property Seller Generally, in all property sale transactions, it happens that the actual tax liability in the hands of the tax payer (non-resident seller) is lesser than the proposed TDS on that transaction, due to various factors. The pain of Non-Resident property seller can be understood by an example, E.g. An NRI agrees to sell a property @ 1 Crore, and property purchase cost (without indexation) in the hands of NRI is Rs 50 Lakhs. Hence, a capital gain arises for Rs 50 Lakhs. Now, as per Non-Resident TDS provisions (Sec 195), considering property is a long term asset (i.e. holding period exceeds 2 years) the applicable TDS is 13.80% (12.5% + SC 10% + CESS 4%) of sale amount i.e. Rs 13.80 Lakh. Though Actual Tax Liability is Rs 6.50 Lakh only i.e. 13% of Rs 50 Lakhs (12.5% + 4% cess; SC not applicable upto Rs. 50 Lakhs gain). Hence, in the above situation, as per applicable NRI TDS provisions 13.80 Lakhs TDS will be deducted against actual tax Liability of Rs 6.50 Lakhs. Though, NRI can claim the excess TDS refund (Rs. 7.30 Lakhs) through filing of ITR. However, it is a time taking process and no assurity of getting the said refund. If TDS deducted on full amount, Non Resident money will be blocked with Income Tax Department for a long time, which causes loss of Interest or Investment earnings also. Hence, this is a Genuine Hardship on the Non-Residents (NRIs, OCIs) in relation to their property sale matter transactions in India. To overcome this situation, Income Tax Act provides for Lower TDS Certificate (or also called as TDS Exemption Certificate) under section 197 of Income Tax Act.   NRI Lower TDS Certificate or TDS Exemption Certificate – Section 197  To seek relief in the Withholding Tax Rates, NRI/Foreign Citizen can apply for Lower TDS Certificate (TDS Exemption Certificate) with the Jurisdictional Income Tax Authority. On submission of documents, the application moves to the Jurisdictional TDS Certificate Officer. The officer reviews the application and raises observations & further requirements if any. On satisfying all the concerns, the officer processes the certificate and allows Lower TDS to the NRI/Foreign citizen in relation to the transaction.  On receipt of the Lower TDS Certificate (or TDS exemption certificate) the buyer deducts the TDS as per Certificate. Hence, through this process NRI/Foreign citizen gets TDS relief before the sale transaction, and avoid blocking of their money with Income Tax Department.   Changes after July 2024 Budget. After 23rd July 2024, as per new Budget, Resident Individuals have been granted 2 options while selling their property bought before 23rd July 2024, they can either calculate and Pay Capital Gains Tax @ 20% with Indexation Benefit or @12.5% without Indexation Benefit whichever is more Beneficial for them. However after Budget 2024, The Benefit of Indexation is NOT available to NRI’s. They have to calculate the Capital Gain only as per New Scheme which is 12.5% without Indexation and hence opting for LTDC is the only relief to safeguard their interest and pay tax ascertaining real value of gain   Synopsis To reduce TDS on property sale by NRI is needed to furnish the application within the Income Tax Department to provide the certificate for Nil/Lower Deduction of TDS, the same certificate assists the NRIs in reducing the TDS liability, and hence most NRIs chooses for the same Certificate. But furnishing the form is a tough chore also Communication with Income Tax Authorities for getting Certificate is also tough task thus the majority of NRIs opt for the Chartered Accountant to furnish the application.   Anand Sham Chandak Proprietor, CA Anand Sham Chandak & Co. Chartered Accountant           

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It is expected that real estate India will be significantly transformed by the year of 2025, and along with its key emergence factors- growing economy, advanced technologies, and increasing urbanization – it has the potential to be a true gamechanger. Scope:  At this moment, the need for affordable housing is at an all-time high, and PMAY (rural) continues to serve as one of the many government efforts that need to be undertaken. On the other hand, luxury property demand is trending. Consequently, we can expect further advancement in construction technologies to occur. The best part about this would be the innovation in financing and construction material that could make housing significantly less costly and more sustainable. This all paints a clear picture of rising construction speeds and an all-around greater efficiency.  Technology:  With time, smart cities are bound to emerge, new construction developments see the integration of smart technologies for homes with enhanced security features. The traditional ways of property management make inefficiency and transparency almost customary, but the use of data analytics mitigates both efficiently. The tech divide needs to be solved before thoughts of these advanced technologies become a reality and let us be honest, greener sustainable buildings will be built once these factors get emphasis. Commercial real estate  It is likely to continue expanding owing to growth of retail, the proliferation of co-working spaces and new office space requirements. However, the market must be responsive to new ways of working and evolving preferences. There is likely to be a surge in the requirement for more versatile and hybrid workspaces. Furthermore, the incorporation of technology within commercial properties such as smart building management systems is set to become more prevalent. Challenges:  Obtaining land continues to be a major challenge together with the limitations imposed by lack of sufficient infrastructure as well as lack of access to finance. Solving these problems requires the participation of the state, the private market, and the banking system. Confronting these barriers is likely to be critical to realizing the full opportunity of the Indian real estate landscape. Nothing constrains investor confidence more than difficult legislation and lack of sound policy to support the business of real estate. There is little doubt that the enforcing and deepening of the provisions of RERA is an absolute must. All that will promote investment; consolidating the investment environment by simplifying the regulatory framework and ensuring transparency, compliance with fair investment and doing business principles. But introduction of these devices alone does not suffice, the emergence of institutional structures and other devices deeply embedded in the fabric of society, of reinforced and capable transnational corporations is also required. Conclusion:  The Indian real estate industry can expect to become more globally integrated by 2025, with a focus on advanced sustainability, alternate financing options, fostered affordable solutions and immaculate transparency. About Author: Rohit Gaikwad is India’s renowned Real Estate Master Coach & a published author. He has sold 12.5 million sq ft till November 2024 & counting. He is recognized as an authority on how to build a super-profitable Real Estate business using simple and easy strategies without a huge investment. He has worked with over 500 realty Brands & authored 10 books on Indian real estate. To know more, kindly visit www.RohitGaikwad.com teamrohitgaikwad@gmail.com Phone: 020-67873302

The Indian real estate industry has witnessed exponential growth in demand over the past decade, with millions of homes required to meet the housing needs of a rapidly urbanizing population.  To keep pace with this surge and ensure timely delivery of high-quality homes, developers must embrace innovative construction technologies. Among these, Aluform (Aluminium Formwork) technology has emerged as a game-changer, offering speed, efficiency, and sustainability to transform the way buildings are constructed.  Advantages of Aluform Technology  Aluform offers a host of benefits that make it a game-changer for modern construction. Chief among these is its ability to save both time and costs, with forms designed for approximately 200 repetitions. This reusability significantly lowers material costs and accelerates project timelines, making it ideal for large scale developments.  The lightweight design of Aluform components ensures high strength and  durability while resisting corrosion, adding to their longevity. Additionally, the  system eliminates the need for heavy tower cranes to move forms, reducing  logistical challenges and project costs.  Another critical advantage is its environmental friendliness. Unlike traditional construction methods that generate significant debris, Aluform technology minimizes waste and promotes a cleaner construction process. It aligns  seamlessly with modern green building practices, reducing the carbon footprint of  projects. From a structural perspective, Aluform allows for the simultaneous  casting of concrete columns and beams, improving efficiency. It also delivers  smooth finishes that enhance the aesthetic appeal of structures, reducing the need  for additional plastering and finishing work.  Applications and Future Potential  Aluform technology is versatile, finding applications across residential, commercial, and infrastructure projects. Whether for high-rise apartments, office spaces, or urban infrastructure, it delivers unmatched precision and speed, meeting the demands of modern construction.  As the industry moves towards greater digitization and sustainability, Aluform’s potential for integration with emerging technologies like prefabrication, robotics, and AI positions it as a future-ready solution. Its ability to balance efficiency with environmental responsibility ensures its relevance for decades to come.  Aluform at Vilas Javdekar Developers  At Vilas Javdekar Developers, we have embraced Aluform technology as a cornerstone of our construction strategy. A unique differentiator for us is our in house Aluform factory, which gives us complete control over the production process.  This capability ensures superior quality, cost-efficiency, and timely delivery across all our projects. Our use of Aluform exemplifies our commitment to blending innovation with excellence, ensuring every home we build reflects the highest standards of design and craftsmanship.  Aluform technology is more than just a construction tool; it’s a transformative force reshaping how the real estate industry approaches design and execution. By combining efficiency, sustainability, and aesthetics, Aluform paves the way for a smarter and greener future. At Vilas Javdekar Developers, we are proud to be at the forefront of this transformation, delivering homes that stand as benchmarks of quality and innovation. Sarvesh Javdekar Technical Director, Vilas Javdekar Developers sarvesh.javdekar@javdekars.com