Will property taxes for rental property be deductible in 2018?

The property taxes for rental property can be deductible in 2018. Your typical rental expenses are basically electricity, heating, water, advertising, repairs and maintenance of the rental premises, interest portion of the mortgage, property taxes and legal fees if you have spent money to recover your rent from the current tenant or from the previous tenant. If you look at the pre launch projects in Bannerghatta road, you can be assured of proper demarcation of taxes and they are paid on time. All the expenses and maintenance amount are handled by the apartment or project authorities. Bangalore is coming up with just real estate projects that are quite transparent with their work

A little more into the discussed topic 

The taxpayers will be able to deduct their 2018 rental property taxes on their 2017 returns if they pay those tax bills before the end of the year—and only if the taxes were assessed before 2018, the Internal Revenue Service said in a news release.

 Bangalore has come up with a grand project – the Prestige Park Square which is an epitome of enviable amenities and apartments and it can be taken for rent as well if needed. Those who have already gone for rented ones can deduct the property tax for the rent. Prestige Park Square ensures some spacious and lavish units for all those who wish to live a luxurious life. Bannerghatta Main Road aids all the connectivity to various parts of Bangalore. Prestige Park Square, Bangalore has many schools, hospitals, IT Tech Park, commercial complexes and many other social infrastructures in the near proximity. So investing in projects of this sort can be profitable. 

 Property taxes for rental property are likely to be treated as a business expense against rental income. Thus, there would be an expense on a “schedule C” business, rather than a deduction against personal income. Real estate market would be affected to a certain extent. Income earned from leasing land, buildings, and that of furniture is subject to a non-final 15% withholding tax, levied on the gross rent. This tax is credited against the taxpayer’s total income tax liability.

Taxable income is computed on the basis of the actual rental value of the property or the government determined rental value, whichever poses to be higher. A standard deduction of 30% is granted for repairs and collection charges. Interest payments relating to loans used for the construction, acquisition, and repairs of the property are also entirely deductible.

 Property taxation is actually a very interesting sector. There is no comprehensive system of property taxation. Not only does it differ among the states, but it also varies between the municipalities within the states. For leased properties, property tax is levied on the annual rental value of the property. Hence, rental property taxes can be mostly deductible this year and this is applicable for most of the states. Bangalore is one of those cities who have been assuring this fact. The propping up of innumerable luxury projects are about to change the entire scenario.

RERA and its Impact in Real Estate Market

RERA. How will RERA benefit you?

RERA (Real Estate Regulation Act) is the new life-saver in town for all buyer who were previously tensed about builders betraying them. Real Estate Regulation Act (RERA) is going to shield buyers from delays, fraudulent claims and false advertisements. Homebuyers may finally be able to forget about inordinate project delays and filthy construction quality.

RERA and its benefits you receive as a home-buyers

Builders can't charge for area outside the walls i.e they can’t charge you on super-buildup-area (SBA)

The buyer will pay only for the carpet area and that it. The builder can't charge for the super built-up area, which is a common practice currently. For instance, where you get 900-1,000 sq. ft. carpet area if you book a 1,300 sq. ft. house (the rest is balconies and common spaces), you pay for the whole 1300 Sqft. in present day scenario.  The new law is expected to stop this practice for good.

Builders responsible for any defect in the house

The builder will have to provide a solution for any structural defect in the building for a total of five years. Basically, RERA also states that any structural defects brought to the notice of a promoter within a period of five years from the date of handing over possession must be rectified by the promoter.

Builders can't use your money to make someone else's house, yes you heard that right. They did siphon off your money for some other project.

The developer will have to transfer 70% money received from home buyers to an escrow account. The builder has to use this amount as per the stages of construction.

Quick redressal of grievances

In accordance to RERA, regulatory bodies and appellate tribunals have to be set up in each and every  state to solve builder-buyer disputes. This has to be done within 120 days.

Consent of 2/3rd allottees about any other addition or alteration.

For any changes to be made by the developer, the developer should have 2/3rd allottees consent. If they fail to get the support, then the design related or any such things can’t be employed by the builder in the particular project.

Now you may think what advantages do buyers have for projects which are already under construction. Firstly, every real estate project (where the total area to be developed exceeds 500 Sq Metres or more than 8 apartments is proposed to be developed in any phase), must be registered with its respective state’s RERA governing council. The existing projects where the occupancy certificate (OC) has not been issued, those are required to comply with the registration requirements under the RERA Act.

Secondly, after the implementation of the Act, home buyers will be able to monitor the progress of the project on the RERA website. This will be possible since promoters will be required to make periodic submissions to the regulator regarding the progress of the project.

A brand-new project is coming up on the Tumkur Road, which will be RERA registered and under all the rules and regulation. Prestige Jindal City Apartments Bangalore is the latest brainchild of Prestige Group, offering 3000+ units in 1, 2, 3 and 4 BHK variants. Get in touch to get a detailed info about the project. It will surely amaze you, best-in-class project in North West Bangalore.    

UPCOMING PRE-LAUNCH PROPERTIES IN BANGALORE

PRESTIGE PARK SQUARE BANGALORE

PRESTIGE PARK SQUARE

Prestige Group has presented another Prelaunch advancement design and that is Prestige Park Square which is situated at Bannerghatta Road, South zone of Bangalore. This point of interest venture comprises of 2 BHK and 3 BHK units and is spread over all through the lavish, green pleasant land territory. This undertaking has an extravagances condo too with the finest and the best world-class civilities to reserve this as a Prime wander in South Bangalore Prestige Park Square venture is situated at a prime area which has been produced and has been very much associated with all the vital focuses of Bangalore. This undertaking is exceedingly helpful and appropriate for the IT Professionals. Prestige Park Square has the nearness to the IT Tech Park, schools, healing facilities, business buildings, and numerous other critical points of interest in the city. It is a perfect venture for financial specialists in all angles.

The forthcoming undertaking from the Prestige Group "Prestige Park Square" Bangalore venture is situated in the prime area of Bangalore and appreciates superb availability for all purposes of intrigue situated in and around the Bangalore city. The Bannerghatta Road properties from Prestige Group known as Prestige Park Square will be a venture which will be exceptionally helpful for the IT experts. What influences the Prestige To stop Square Bannerghatta Road venture a standout amongst the most desired ones is its remarkable area connecting it with every pivotal historic point of the Bangalore city.

Prestige Park Square Location

BANNERGHATTA ROAD

New Flats in Bannerghatta Road, Bangalore and appreciates great network for every one of the purposes of significance situated in and around Bangalore. This task Prestige Park Square is situated in a region which is extremely practical for the IT experts. What influences up and coming Prestige To stop Square extend a standout amongst the most pined for ones is its extraordinary area connecting it with every single pivotal milestone of Bangalore.

Prestige Park Square Amenities 

Prestige Park Square is situated in Bannerghatta with all conveniences adjacent to the silk board intersection which is set apart as major private and business focus of Bengaluru. A portion of the luxuries gave include:

24hr reinforcement

ball court

clubhouse

radio

play range

security

tennis court

badminton court

broadband web

group corridor

wellbeing offices

library

swimming pool

wifi

water collecting

bank/atm

cafeteria

indoor recreations

plant

support staff

entertainment offices

sanctuary

Prestige Park Square Specifications

Structure

RCC structure

Bond obstructs for dividers wherever pertinent.

Anteroom

Ground floor - rich hall deck and cladding in stone/marble.

Upper floors – vitrified tile flooring in anteroom and marble/stone cladding in the lift.

All entryway dividers incompletely in paint/finished paint and on roofs.

OBD paint on dividers and roofs in benefit staircase and administration campaign.

Lifts

Traveler and administration lift reasonable limit in each piece.

Loft flooring

Vitrified tiles in the hall, living range, feasting territory, passages and all rooms.

Hostile to slip earthenware tiles in overhangs.

Kitchen

Vitrified/artistic tile flooring.

Artistic tile ground surface and dado for the cleaning specialist's room and can.

Artistic tile dado to 2 feet above the stone counter.

Chromed tap with single bowl single depletes steel sink. Vitrified/fired tile ground surface and artistic dado in the utility.

Toilets

Against slip fired tile flooring.

Earthenware tiles on dividers up to the false roof.

Stone counter with clay washbowl in the ace latrine and platform wash bowls in alternate toilets.

EWCS and chrome covered fittings.

Chrome covered tap with shower blender.

Fountains in all toilets aside from the house keeper's can.

Suspended pipelines in toilets hid inside lattice false roof.

Interior entryways

Primary entryway – 8 feet high opening with pre-shaped flush shade and edge in wood, finished on the two sides.

Other interior entryways – 7 feet with wooden edges and flush shades.

Outer entryways and windows

UPVC outlines and sliding shades for every single outer entryway.

MS originator flame broil, finish painted, for ground floor lofts as it were.

3 track UPVC confined windows with clear glass and arrangement to introduce mosquito work screens.

Painting

Concrete paint on outside dividers.

Obd on inner dividers and roofs.

Lacquer paint on all railings.

Electrical

All electrical wiring is hidden and utilizes PVC disengaged copper wires with measured switches.

Adequate electrical plugs and light focus accommodated.

3 KVA power will be accommodated 1 BR and 1 BR + think about units.

10 KVA power will be accommodated 4 BR units.

5 KVA power will be accommodated 2 and 2 BR + think about units.

8 KVA power will be accommodated 3 BR and 3 BR + cleaning specialist's room units.

Television and phone focus gave to the living region and all rooms.

Split AC arrangement in living region and in all rooms.

ELCB and individual meters will be accommodated all lofts.

Security System

Fringe CCTV scope.

DG control

The generator will be accommodated every single basic administration.

100% power goes down for condos at extra cost.

About Prestige Group 

Prestige Group has turned into an equivalent word for quality, trust, and brilliance in the field of land as far back as the organization was built up the route in 1986. All credits for this believability and notoriety goes to the organizer of the organization Mr.RazzakSattar. Throughout the years, Prestige Group has developed exponentially with a considerable measure of business, private and neighborliness ventures. With more than 350 finished private and business ventures, Prestige Group has cut out their name in the hearts of Banglorians.

Prestige Group Awards and Recognitions

Following are a couple of accomplishments and enrichment which has been given to Prestige Group.

CNBC Awaaz Real Estate Award 2013.

Indian Realty Awards 2013 Developer of the Year Prestige Group

D and amp; B Corporate Awards Top Indian Company 2014 - Real Estate Prestige Group

India's Most Promising Brands 2014 Most Promising Brand - Real Estate Prestige Group

Blog Referral: Prestige Park Square Bannerghatta

Prestige Park Square Contact :+918296889275 for more details

Prestige Apartments in Bannerghatta Road - Park Square

Prestige Apartments in Bannerghatta Road - Park Square

The Prestige Group subsequent to grasping their astounding nearness in the land business of the southern piece of India, surely understood as imperative pioneers with regards to lodging property are good to go to dispatch their novel task Prestige Park Square and add a star once more to their storage room. The distinction bunch is distinguished for their hands on understanding and class conveying, subsequent to being a parent to many shinning horizons of Bangalore they are ready for action like never before once more with a task in Bangalore.

Prestige Park Square – yet another productive and remarkable undertaking invites you on board, giving you a living knowledge of extraordinary compared to other advancements around the city. Prestige Park Square is one the competitor venture in its pre-dispatch state arranged in the capital historic point – Bangalore. This private historic point is spread crosswise over huge sections of land, conceivably arranged and laid out into a la mode condos and greeneries to give you an unwinding living knowledge. Prestige Park Square undertaking is habitation in greeneries and manors to give you the correct feel and adjust of a well living.

The houses are built with best innovation forming it right, the outline and engineering is taken care by the finest trusted hands giving you, your fantasy home in an arranged potential area. Quality is dependably the principal priority at notoriety.

Prestige Park Square Location

Bannerghatta is generally known as BG street, is national state parkway of Karnataka interfacing Bangalore to different adjacent areas like towns of Bannerghatta, Jigani and Anekal. BG street over the time traverse has thoughtfully developed as is today one of the best areas on the city outline the region is well adjust of private living and home to numerous it organizations making it a very much adjusted hotspot to live in. Park Square is one of the Prestige apartments in Bannerghatta Road.

Bannerghatta is likewise home to numerous instructive establishments like the Vemana Institute of Technology, St. John's Medical College, Christ University, Indian Institute of Plantation Management, Amity Global Business School, NuSkillz Academy, Indian Institute of Astrophysics, NuBrain Academy, Jyoti Nivas College, TAPMI and NMIMS.

Prestige Park Square is put in a growing area making famously open to round the clock transport offices and head out from neighborhood conveniences. Prestige Park Square is a perfect mix of adjusted way of life.

Connectivity

Bannerghatta street converges major arterial roads thus appreciates the network to different real areas. This street goes through all the significant intersections like Arekere Gare, Gottigere, Hulimavu Gate, Bannerghatta Circle, Adugodi and Koppa Gate and thus appreciates incredible systems administration to every one of these spots. Additionally this street goes through other imperative areas like MICO Layout, Jayanagar, Dollars settlement and Anekal. Additionally this state Highway 87 or Bannerghatta street is associated with ORR and NICE ring street and this enhances the network of this area considerably more. The International Airport is 45 km and Bangalore city intersection is 15 km from this area. The proposed Namma Metro line running amongst Gottigere and Nagavara through IIM-Bangalore will enhance the streets reach and improve its land request.

Schools, Colleges and Universities

Bannerghatta street is one of the advantageous areas which has certain re-known schools and universities like Holy soul school and PU school, Loyola composite PU College, GIBS BUSINESS school, the little peak, brickwork back foundation, Mount st joseph, Priyadarshini secondary school, Greenwood high pre school, Gottigere Government school, Indian Institute of Management, Maple bear Canadian pre school and furthermore a kidzee.

Shopping Malls

This Bannerghatta street has likewise openness to the strip malls and shopping centers like Gopalan development shopping center, customers stop, Royal meenakshi shopping center, dependence savvy, Brand production line and Village hyper showcase. All these make your shopping much more simpler and helpful.

Hospitals

Bannerghatta street has some extremely well known healing centers like Apollo, Fortis, Dr Agarwal's eye clinic, Vivekananda doctor's facility, Narayana Nethralaya, vasan eye mind, Rainbow youngsters' doctor's facility and Birthright, Patanjali Chikitsalaya and Parimala Hospital. Your and your friends and family won't need to flee places for their wellbeing checkups and cure.

Hotels

Bannerghatta street likewise gives some great inns along its extend like Fab lodging stupendous, the woodbridge inn, first class stop, brahma motel, Hotel Euphoria, Sri Sai solaces and The blue jay inns. Such extravagant and rich inns will make your stay considerably more agreeable in such an advantageous area.

Prestige Park Square Price

Park Square is one of the Prestige apartments for sale in South Bangalore. All information on pricing will be made available on request.

Prestige Park Square – Reasons to Invest

Well connected
Superb social amenities for individuals and families
Easy commute to work
Mushrooming of good schools
Good credit worthy returns
Spacious homes

Blog Referral: Bangalore Real Estate News - Prestige Park Square

Contact: +91-8553159202, +91-8296889275

Prestige Property | Bangalore

Prestige Properties

Prestige Park Square

Every single one of us has some significance or thought of paradise. A place with endless unendingness and peacefulness is the thing that the endeavor Prestige Park Square offers to its clients. Prestige Park Square is a forthcoming hotel change by the unmistakable land maker Prestige Group. The Prestige Park Square errand examines something heavenly in this way the slant that you will get in this energetically anticipated meander of Prestige which is displayed at Bannerghatta Road is unfathomable.

The property of Prestige Park Square is organized in the basic territory of Bannerghatta Road Bangalore and preferences from fine system to all reasons for interest orchestrated in and around Bangalore. Prestige Park Square change is orchestrated in a range which is proper for all the IT specialists. What impacts Prestige Park Square expand a champion among the most alluring ones is its uncommon range interfacing it with each critical noteworthy purpose of Bangalore.

Prestige Park Square is a best in class selective private endeavor from the elevated assembling The Prestige producers. Prestige Park Square Project is orchestrated at Bannerghatta Road which is the best township of Bangalore due to its closeness to Kanakapura Road. Prestige Park Square on Bannerghatta Road looks like a pull back of peace and is in the center of the city. It is needed to make every level a sheltered place of security. A clubhouse that is all around equipped with extravagant workplaces rounds things off to brightness. This progression has the ideal measure of room you require, with all the comfort your lifestyle demands, while up 'til now arranging you close to the downtown region. Prestige  Park Square endeavor will be a top notch lodging change from Prestige designers and they rush to impact this errand Prestige To stop Square as a land check headway in Bangalore.

Prestige Park Square Location

Prestige Park Square is situated in the significant area of Bannerghatta Road Bangalore. Bannerghatta Road which is the State Highway 87 is blossoming as a focal point of development because of its network to significant IT center points of the city. The street gives a simple openness to eastern extend of Outer Ring Road which is an additional equivalent word of advancement. With Namma Metro coming up all the way till Gottigere this area is given a chance to take jump during the time spent its development. Thus contributing on Prestige Park Square venture will demonstrate exceptionally productive in the years to come. Prestige Park Square is a great new pursuit by the leading land developer Prestige Group. The apt architectonics in Prestige Park Square venture is being finished by utilizing the latest innovations and thus, it's thought to be the most admirable address which will offer finish beguilement to every single tenant. The structure anf floor plan of Prestige Park Square Bangalore is spread generally past wide acres of land of land having the most engaging greeneries that are completely spread all through till your eyes can see. Prestige Park Square venture is reasonably arranged in Bangalore and appreciates proximity to every social office.

Prestige Park Square Specifications

Prestige Park Square uses the most incredible in quality and marked materials. At Prestige Park Square the lavatory insides, flooring tiles, are extremely exquisite yet proposed for simple upkeep. The lodging units at Prestige Park Square contain every contemporary office and each edge of the unit is precisely made arrangements for condign space administration.

Kitchens accompany high review Granite Platform and matt-complete earthenware divider tiles

Vitrified ground surface for living, eating and different ranges of the flat.

Offices for TV, clothes washers, aeration and cooling system and other key fittings

Hostile to slip flooring tiles and glossy silk complete divider tiles in all washrooms with the most recent/marked fittings

Rock/Marble floors in the entryway/gathering Areas

Prestige Park Square Price

All details about pricing is available on request.

Prestige Park Square - Amenities

Prestige Park Square offers you with the incomparable offices over the city flats. Prestige Group are outstanding for their sign of administration in rural designs. They have faith in 'placated living 'of their clients where they tend to connect every single relative and their satisfaction. Prestige Park Square offers you with the top notch fundamental pleasantries like –

24/7 power backup

24/7 water facility

Fire and safety control facilities and measures

Spacious well ventilated car parking zones

Providing first class security system and planning

CCTV surveillance and proper security staff

Recreational utility –

Indoor games

Swimming pool

Club house 

Basketball court

    

Utility –

Common room

Garden  

Additional facilities –

ATM

Intercom

Health and wellness –

Joggers park

Gymnasium

Play area

Blog Referral: Prestige Park Square Apartments

For more information on the property, feel free to contact us at: +91-8553159202, +91-8296889275