Real Estate Taxes Vs Personal Property Taxes

If it is used in the general context there is as such no difference between both the terms. But broadly speaking there are two types of properties. .One is real and another one is personal. Real property is the right to land and right to make improvements in the land. On the other hand personal property is all the property apart from real property; which is not permanently attached and is thus movable.

Real estate taxes:
Real estate taxes are taxes that are imposed on real estate by a government for services rendered. The taxes are basically based on the relative value and worth of the property. The more expensive the property is, the higher the real estate taxes will be for that particular property. They are assessed mostly on most privately owned properties. Some communities do not impose or levy taxes on real estate property. In order to help those people who have limited income but valuable property, some jurisdictions have imposed rules to help protect some real estate taxes. There are sometimes special considerations that help to bring down the amount paid in real estate taxes, especially if it is a primary residence for homeowners.. The homeowner may be receiving a homestead exemption. In some states, residential properties occupied by the owner may be valued at a lower rate than other types of properties, such as commercial and industrial.

Personal Property tax:
It is a tax levied on an owner and every owner is liable to pay this tax. It is imposed by the Government. Governing authority where the area is located may levy such tax on the owner. It may be levied by the multiple jurisdictions as well such as federal state or municipality. The property tax rateis often given as a percentage. To make calculations for the property tax the authority multiply the assessed value of the property by the mill .An annual registration tax is imposed by every state on the owner. States are imposing taxes on vehicles owned by you through a bureau called as state’s motor vehicle bureau. In addition to it some states impose a personal property tax on other possessions, particularly if the items are being used for any business purpose. In short every property being used by owner fr generating revenues are imposed taxes on. Some of the property is also exempted by the government only.

Author Bio:-The name Sushil Ansal does not need any introduction in the field of Real estate.Sushil Ansal is an iconic figure of his field and has changed the face of Real Estate in India.The Chairman of Ansal Properties & Infrastructure LTD (Ansal API) is the driving force in establishing the brand Ansal API.Mr.Sushil Ansal has had an illustrious career spanning over 50 years.

Challenges of Real Estate:

Real estate is one of the fastest growing sectors in the country and new real estate companies are being formed every day. The number of real estate companies makes it difficult for them to survive and flourish. Many doubts are raised as to how these companies will survive and deliver on the promises they make to customers. Choosing appropriate mix of technological solutions and knowing how to dominate the local market place are some of the challenges that real estate companies face. Many real estate companies waste time by what they believe to be the latest and greatest hi- tech solutions without understanding the return on investment. Real estate companies have many responsibilities to fulfill for their buyers and sellers. These companies should have a grasp of the market and especially should know the neighborhoods where their clients have properties. The company should also know how to help its clients in getting finance and also know the laws of taxes and local zoning. The real estate company should have a wide network of contacts that can help the clients in fulfilling their real estate requirements. Real estate companies should keep in touch with the latest developments in the real estate market and begin the day by studying the previous day’s market activity. The developments in the business such as new real estate listings, price ranges and the items that have been sold should be kept track of.

 A real estate agent does the paperwork, explains provisions of a contract to a client, reviews documents and coordinates inspections of a property. He has to work closely with the buyers and sellers and has to understand the needs of the clients. He has to find suitable properties and has to gather information so as to better assist the buyers in making decisions. In order to better themselves in their marketing tasks and also to negotiate for better rates for their clients, the real estate agent should update himself with the latest developments in the real estate industry. A good real estate agent should be able to make his client understand each process of the real estate transaction as persons buying or selling properties are concerned with the complexities of the real estate transaction and also about the money involved. Both the real estate company and the real estate agent should constantly try to update their skills and knowledge of the real estate industry. They should also update themselves on the latest trends and issues affecting their trade.

Being in the real estate business is not an easy task, but the trade offers many opportunities for growth.Hard work and a commitment to learning are required to excel in this trade.

Author Bio:-The name Sushil Ansal does not need any introduction in the field of Real estate. Sushil Ansal is an iconic figure of his field and has changed the face of Real Estate in India.The Chairman of Ansal Properties & Infrastructure LTD (Ansal API) is the driving force in establishing the brand Ansal API.Mr.Sushil Ansal has had an illustrious career spanning over 50 years.

Successful Property Developer:

If you are not familiar with the building trade and the various construction processes, it would be wise to employ the services of a builder to oversee your new purchase; otherwise your profit margin may be low. Being a developer has its plus points in the sense that there are no customers to deal with, no deadlines and no bargaining over prices. In order to make a profit, the important points are that there should be a plan and things should be done correctly. Which fixtures and fittings to use, where from the labor will come and how much will be its cost, what is the rate of bank loan, what will be the acceptable property purchase price and what will be the turnaround time for the entire project are some of these points that should be kept in mind. It is also important to work out the budget and stick to it.Questions like What is the worth of the property? After it is done up, how much will it be worth? How much will it cost to do up? At what cost can I sell it for? - should be well thought of before. It will be also helpful to know an local estate agent who will be familiar with the properties in your area. You should know what type of property will be in demand in your area as it will be not worth to create a property that nobody wants.

Ansal Housing Apartments Flats: Gurgaon

Since its inception, Ansal Housing has worked tirelessly and is now a leading real estate builder in India and abroad. Constructing stronger buildings and ultimately a stronger nation has been the forte of Ansal Housing and its upcoming residential project is at Sector 86, Gurgaon. Ansal Housing Residential Project Gurgaon is spread over a wide area and is a heaven for home seekers in the sense that it provides first class amenities, absolute lavishness and best level of security. It is located 700 meters from Delhi and Gurgaon Expressway, is nearby to the proposed Metro Station and ISBT and has excellent connectivity to Indira Gandhi International Airport and New Delhi. The main characteristics of Ansal Housing Luxury Apartments are its open lush green spaces, proper ventilation for every residence, finest architectural design and timely delivery. In addition to these, Ansal residential apartments are built following the universal building practices like those found in high class housing complexes the world over. Ansal Housing Apartments are attractive and have sophistication and practical functionality .Consideration is given to adequate space and the features are well developed. These key differentiators have made Ansal Housing the most reputed name in the country with a large number of customers. In Ansal Housing Gurgaon, there are luxurious 2 BHK, 3 BHK + 2T, 3 BKH + SQ residential Apartments in the sizes from 1325 sq. ft to 1860 sq. ft. School, colleges, shopping malls, cinema halls, gymnasium, clubs and restaurants are in close proximity. It has good supply of electricity, water and adequate parking space. The classiness and distinction of Ansal Housing is aptly displayed at this Ansal Housing upcoming residential project at Sector 86, Gurgaon.

The main features of this housing apartment include:

• 4BR SQ Flat available.
• 4 flat per floor (with lift).
• Customer friendly installment payment plan.
• High rise apartments: ground to 14th floor.
• Ample green area.
• Club House with all amenities.
• Gated complex with complete security.
• 24x7 power back-up.

And the key distances are:

• Walking distance from proposed commercial belt, shopping malls.
• 35 min. from South Delhi.
• 15 minutes from IFFCCO chowk.
• 25 minutes from airport.
• 45 min. from C.P.
• Direct Access From Pataudi Road and NH-8

More about the residential projects in Sector 86 can be known by dialing +91 9811 999 666 or +91 11 4950 0000. Over the years, Ansal has been meeting the real estate needs of the people in the best way possible and its future plans includes to serve in the best possible manner.

Author Bio:-The name Sushil Ansal does not need any introduction in the field of Real estate. Sushil Ansal is an iconic figure of his field and has changed the face of Real Estate in India. The Chairman of Ansal Properties & Infrastructure LTD (Ansal API) is the driving force in establishing the brand Ansal API. Mr.Sushil Ansal has had an illustrious career spanning over 50 years.