While countries like Hong Kong are lowering taxes and attracting MORE business the locals in Bombay feel the opposite works. In yet another attempt to drive people out of the city the Bombay Muncipal Authority (BMC) is debating whether to tax rental rates at 41.5%. The way they are planning to tax people is the following:
Rs 100,000 - Residential rent
Rs [...]
Entries Tagged as 'Housing'
Rental tax in Bombay
May 18th, 2008 · No Comments
To Buy or Not To Buy in Bombay
May 13th, 2008 · No Comments
People use the newspaper as a source of information but if you were looking to buy property in Bombay the papers were of no use. Below are two recent front page headlines:
Friday, May 2nd (Times of India) - Flat prices frozen till Diwali
Saturday, May 3rd (DNA) - Property prices head south, fall of 15-20%
The Times [...]
Ambani’s 2 Billion Dollar Home
May 8th, 2008 · 2 Comments
I wrote about Mukesh Ambani’s monster home called Antilla back in June 2007. At that time I mentioned the house was “estimated at USD 1 billion dollars - that figure is definitely way off.” I was right, in the latest Forbes magazine there is talk the house (if you can call it that) will be [...]