Many of the old buildings that are located in prime areas of the city are occupied by the owners and are lying in a dilapidated state rendering them structurally unsafe to be habitable. Redevelopment of these dilapidated buildings is a necessity to redefine the skyline of the city as well as to secure the safety of the inhabitants of the building as well as that of the surrounding areas. These properties can be redeveloped into high income generating assets such as commercial, retail or residential complexes with various amenities and top quality specifications.
If you are one such owner living in such a property and would like to earn much higher returns on your property without parting with the ownership of the premises then join hands with PRM Group, who will create a landmark development on your property.
PRM Group has pioneered an innovative way to bring land, capital and expertise together for property owners wishing to maximize the value of their land, but who lack the resources to develop the property on their own. Under this approach, a partnership is formed between the property owner and PRM Group, for the purpose of developing the land and marketing it to prospective tenants.
Selling a property attracts capital gain tax and the owner has to pay high stamp duty if one buys an alternate property from its sale proceeds. Selling inherited ancestral property in India is still not socially acceptable because of the sentimental value attached to it. The owner pays lower municipal taxes on the retained portion in the proposed building than he does upon purchasing another flat at a different location after sale of inherited property.