Kumbh Mela 2015 to change Nashik’s Appeal

Have you been to Nashik? What is the best aspect of Nashik that wooed you during your first visit?

Well! It can either be the beautiful landscapes or the sacred places of the city!

Not bragging about the city, when asked one of the tourist groups in Nashik regarding the places they visited in the city and the best part of the entire tour, “Nashik’s best quality is the heavenly, quiet and peaceful locations with so many temples to visit and enjoy nature to the fullest” said Jane, a member of the group.

Popular for its numerous sacred places and over 2000 temples in the city, Nashik is hosting one of the hallowed festivals of India, the Kumbh Mela. The mega event is believed to be celebrated depending on the position According to the scholars, of Jupiter (Brhaspati) and the sun.  According to the scholars, it is believed that when there was a fight between the Gods and the demons over the nectar, Lord Vishnu took away the pot of nectar spilling drops of nectar at four different places where the Kumbh Mela is celebrated even today. The places being Hardwar, Nashik, Ujjain and Prayag!

Celebrated once in every 12 years, the Kumbh Mela in Nashik attracts millions of people across the globe! Previously celebrated in the year 2013 in Allahabad, Kumbh Mela was expected to be attended by over a 100 million pilgrims and tourists.

What the city looks like today varies to a great extent if you compare the scenario of the city just a few years back! With the advent of the preparations for the huge event, the city is witnessing developments in the infrastructure of the city. The growth in the real estate sector has enabled the Indian government to make accommodation arrangements for the tourists and also, provide better living spaces to the locals with a raised standard of living. If you plan to be a part of the mega event in 2015 at Nashik, you can start your preparations today! 

Reduced Stamp Duty for Home buyers in Maharashtra

The Maharashtra state government is planning to reduce stamp duty on smaller houses in Mumbai and other parts of Maharashtra. This is a relief for people who own residential properties that are less than the area of 750 sq. ft and the potential home buyers who are planning to buy properties in Maharashtra as the state government plans to help economically weaker, lower income and middle income groups.

The stamp duty rates will be justified with 1% tax for residential properties for the economically weaker sections, 2% for the lower income group houses and 3% of the agreement value for the middle income group houses. However, the people belonging to the higher income groups and the home buyers in search of better properties will continue to pay the standard stamp duty as applicable at present.

Currently, the stamp duty applied on ready reckoner property rates is found to be 5% as specified by the government or the existing market rate, whichever is higher. The state government’s draft housing policy, which has proposed these amendments, has defined 

• The EWS (economically weaker section) houses as residential properties spread over an area of 269 sq. ft.
• LIG (Lower income groups) Houses spread over 270-538 sq. ft
• MIG (middle income groups) houses as 539-753 sq. ft.
• However, any property area measuring beyond these mentioned figures will be defined as the HIG ( high income group).

The registration charges will also be reduced to the standard Rs. 1000 per transaction against the current applied tax of Rs. 25,000. For the HIG houses, the ready reckoner rates are revised every year, depending upon the weighted average of the transactions observed in the previous financial year. Hence, for people who are looking forward to invest in residential properties in Maharashtra should be aware of the existing stamp duty rates before they finalize any property for the end use.