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The Hemisphere

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RERA & GST FAQs

CLARIFICATION ON KEY ISSUES ON GST AND RERA

 

Dear Esteemed Customers,

As you are aware that the country is going through the revolutionary transformation with introduction of Goods & Services Tax (GST) – a unified taxation system, which has changed the landscape of indirect taxes in the country. The situation got more perplexed for the real-estate sector with the introduction of Real Estate Regulation & Development Act, 2016 (RERA).


In this context, we have been receiving regular queries from our customers on various aspects of GST and RERA. It is our endeavor to ensure complete transparency to our customers on all relevant information relating to the project.


With immense pride, we would like to announce that we “The Hemisphere” (Royal Golf Link City Projects Pvt Ltd) have got registered under RERA. We assure you that we will be complying with GST and RERA guidelines.


In commensurate to our efforts to provide all information to our customer and to ensure transparency, we have listed-out below reply to various questions received in relation to GST and RERA:


S No Question Answers
Q.1 What is GST percentage on Basic Sale Price? 12 percent
Q.2 What is GST percentage on other charges like PLC? 18 percent
Q.3 Benefit of GST (in terms of input credit) being passed on to the existing customers? 4 percent
Q.4 How GST input credit will be passed to the customers? In the form of credit notes on subsequent demand to be generated
Q.5 Company’s RERA Registration No. UPRERAPRJ4232
Q.6 What are the possession time lines? Possession of your Suite/Villa will be as per your respective Builder Buyer Agreement
Q.7 Will my payment be made to an escrow account? Yes, your payment will now be taken into an escrow account as per the RERA compliances
Q. 8 What is the escrow account details? Name – ROYALGOLF LINK CITY PROJECTS PVT LTD
A/c No – 60289932049
IFSC Code – MAHB0001313
Bank Name – BANK OF MAHARASTRA
Branch – VASANT KUNJ, DELHI
Q. 9 What is the carpet and built up area of my unit? Complete details (Super/ Covered/ Carpet area) of Suites & Villa will be soon available on our official website (www.thehemisphere.in)
Q. 10 Will you be providing us with the new RERA compliant agreement? To be confirmed shortly

We hope we have addressed all your queries, should you require any further clarification, do write us on crm@thehemisphere.in/, info@thehemisphere.in.

Ensuring best of the service.


Regards,

Team Hemisphere