September 23, 2024

Starting a real estate business in India can be a highly rewarding venture given the country’s rapid economic growth and urbanization. With an increasing demand for housing and commercial properties, the real estate sector presents numerous opportunities for aspiring entrepreneurs. Conduct Thorough Research Follow Industry Leaders Gain insights from seasoned professionals in the real estate sector. Learning from their experiences can provide valuable knowledge and help avoid common pitfalls. Understand the Indian Real Estate Market Analyze key factors such as demographics, GDP growth, housing trends, and local regulations. A thorough understanding of these elements will aid in making informed decisions. Research Current Market Conditions and Trends Investigate local demand and supply figures, government policies, and market dynamics. This research will help you identify lucrative opportunities and potential challenges. Pick a Specialty Commercial Brokerage Consider focusing on commercial properties, which can offer higher returns but may require more significant investment and expertise. Residential Brokerage Specializing in residential properties can be more accessible for beginners and has a vast market, especially in urban areas. Land Investments Investing in land can be profitable, but it requires a deep understanding of legal and regulatory aspects. Identify Popular Areas and Properties Use online tools and databases to find high-demand areas and properties that sell quickly. This information will help you make strategic investment decisions. Register Your Business Business Name Registration Register your business name with the Registrar of Companies (RoC) to establish your legal entity. Obtain Necessary Licenses Acquire a license from the Home Ministry to operate as an agent or broker. This step is crucial for legal compliance. File Taxes and Paperwork Ensure all tax filings and regulatory paperwork are in order with the Income Tax Department to avoid legal issues. Obtain a License State Government Real Estate License Obtain a real estate agent license from the respective state government. This license is increasingly necessary due to the professionalization of the industry. Develop a Business Plan Identify Your Target Audience Define your target market and develop marketing strategies tailored to their needs. Marketing Campaigns Create compelling marketing campaigns, invest in online advertising, and develop lead magnets to attract potential clients. Understand Costs and Fees Be aware of the various costs associated with real estate transactions, including mortgage rates, registration fees, and advertising expenses. Expand Your Network Build Relationships with Suppliers and Clients Networking is essential in real estate. Establish strong connections with suppliers, clients, and other industry professionals. Attend Industry Events Participate in real estate events and conferences to expand your professional network and stay updated on industry trends. Build an Online Presence Professional Website Create a professional website showcasing your properties and services. A well-designed website can attract and engage potential clients. Utilize Social Media Leverage social media platforms to reach a broader audience and engage with potential clients. Regular updates and interactive content can boost your online presence. Provide Excellent Service Prioritize Customer Satisfaction Ensure prompt responses to inquiries and provide transparent information to build trust with clients. Stay Updated on Market Trends Continuously update your knowledge of market conditions and regulations to offer the best advice and services to your clients. Real Estate Business – Realtors Building material suppliers, builders, building labour suppliers, architects, engineers, construction equipment providers, financiers and realtors or brokers all come together to create the vibrant real estate business in India. Key amongst this group are the realtors or brokers who are the interface with the consumers in the transaction processes providing advice, information and help negotiate the deals. In this article we mainly look at how to start a real estate brokerage business. Business Registration Most real estate agents operate as unregistered businesses – typically a proprietorship or unregistered partnership. However, the real estate brokerage business is now becoming reformed, formalized and elevated to international standards to win over customer confidence and compete with large online real estate brokerage platforms. Therefore, it is important for those starting a real estate brokerage business to establish their business as a Private Limited Company or Limited Liability Partnership (LLP) to improve customer confidence and bring about professionalism. Service Tax Registration The services provided by a Real Estate Agent or Real Estate Consultant are taxable under the Service Tax Act. As per the Service Tax Act,  “Real estate agent” means a person who is engaged in rendering any service in relation to sale, purchase, leasing or renting, of real estate and includes a real estate consultant. “Real estate consultant” means a person who renders in any manner, either directly or indirectly, advice, consultancy or technical assistants, in relation to evaluation, conception, design, development, construction, implementation, supervision, maintenance, marketing, acquisition or management of real estate. Service tax is chargeable on any taxable service rendered by the real estate agent or real estate consultant for a consideration in money. The gross amount charged by the service provider is taxable at 14% under the service tax act. Therefore, those real estate agents or real estate consultants having an annual taxable services billing of more than Rs.9 lakhs must obtain service tax registration and collect service tax from client when annual taxable services billing exceeds more than Rs.10 lakhs per year. Real Estate Agent License The real estate business is becoming more organized and Haryana State is among one of the first state in the country to establish licenses for real estate agents. In Haryana, individual real estate agents have to pay a license fee of Rs.25,000 while a company would have to pay Rs. 50,000 for the licence. Real estate agent license from Haryana State would be valid for five years and can thereafter be renewed for a fee of Rs.5000 for individuals and Rs.10,000 for companies. In addition to real estate agent license from State Governments that are mandatory, real estate agents can also become a member of National Association of Realtors – India (NAR-India). NAR-INDIA is a national level umbrella organization representing the interests of thousands of realtors/brokers operating all over the country. NAR-India aims to elevate the standards of practice of the real estate brokerage business to a global level where ethics, transparency, accountability, rule of law and good governance

Section 106 of the Transfer of Property Act of 1882 deals with the duration of certain leases in the absence of a contract. According to this section, a six-month notice period should be served by the lessor or lessee for immovable property. This clause is applicable on properties used for agricultural and manufacturing purposes. For a lease of immovable property for any other purpose, a 15-day notice should be served by the lessor or lessee. The notice should be a written piece of communication, expressing the intention to terminate the lease and must end on a day corresponding to the end of the tenancy period Introduction A transfer of property is a gift, sale, mortgage, lease or exchange of immovable property from the owner to another living person, who can make use of the land or enjoy the possession of land for a period of time or permanently. In other terms, transfer of property is the act of transferring property from one person to another. the term ‘lease’, which refers to the transfer of property from one person to another in exchange for money, for a set period of time. Without selling the property, another person can utilise it as his own property for the duration of the agreement. Even if the owner’s property is leased to someone else, the owner will always be the owner. For a fixed period of time, the other person may utilise that property as his own. The parties’ agreement might be written or verbal in their contract. Section 106 of the Transfer of Property Act, 1882 governs the tenure of leases in the absence of a documented contract or local practice. Let us go through some more details concerning lease under the Transfer of Property Act of 1882. Essential elements of lease under Section 105 of Transfer of Property Act, 1882 Section 105 of the Transfer of Property Act of 1882 addresses the essential elements of a valid lease of immovable property. The parties There are two parties in a lease: the lessor and the lessee. The word “lessor” refers to the party, who transfers the immovable property, i.e. the owner or transferor. The word “lessee” refers to the person, who receives the property from the owner, also known as the holder of the property or the transferee. The demise The term “demise” implies to transfer property by lease or to give a property at lease. It is the transfer of immovable property from the lessor to the lessee through a lease. The property obtained from the owner is enjoyed by the lessee. It is the right to enjoyment known as demise. The term (duration)  The duration of time is limited to the time indicated by the owner or lessor. The lessor specifies a time frame for transferring his immovable property for lease. It is entirely up to the owner to reach an agreement with the lessee for a specific span of time, to use or enjoy a hold of his property. The consideration The owner fixes the lease price, which is known as the premium, and the money or value, contribution, service, or other things that are delivered is known as rent. The immovable property is leased for a certain amount, determined by the owner as the consideration. Consideration is the price to be paid or the promised amount to be given to the transferor on a regular or specified basis by the transferee. Agreement to lease The lease agreement is a deed between two parties, the lessor and the lessee, who both enter into a lease agreement. The lessor is the person who rents out his immovable property to the lessee on a monthly or annual basis for a fixed cost that the owner has agreed to or set. Under this agreement, the owner retains ownership of his property but transfers it to the other person for his use or enjoyment in exchange for a premium or rent. It is up to the parties whether the agreement is written or implied. The owner may establish the rate of premium for the immovable property. For example: When ‘A’ leases his house to ‘B’ for a year at a payment of Rs.50,000. This is an agreement between ‘A’ and ‘B.’ As a result, ‘A’ does not lose ownership throughout this one-year period. Duration of certain leases : Section 106 of Transfer of Property Act, 1882 In the absence of a formal contract or local practice, Section 106 of the Transfer of Property Act, 1882 governs the lease. There are two uses, agricultural and manufacturing, that are made to be assumed to lease on a year-to-year basis and can be terminated by either the lessor or the lessee with six months’ notice. If it is for any other reason, it will be treated as a lease from month to month basis by giving 15 days’ notice. Sample notice under Section 106 of the Transfer of Property Act For owners or legal counsellors, it is essential to include key details when drafting a notice under Section 106. Particulars such as the date of the notice, names of parties, a description of the property, lease terms, and the termination date must be mentioned in the notice. Here is a sample format: [Owner’s name][Owner’s address][City, State, PIN code][Date] [Tenant’s name][Tenant’s address][City, State, PIN code] Dear [Tenant’s Name], Subject: Termination of tenancy for [Property address] This notice is to inform you that your tenancy of the property at [Property address] will be terminated effective from [Termination date]. You are requested to vacate the premises by the mentioned date. Thank you for your cooperation. Sincerely,[Owner’s name][Signature] Supreme Court judgment on Section 106 of the Transfer of Property Act A public trust, led by Shri Ramanand rented out two shops on an oral Rental agreement to Nand Lal and Jitendra Rai. The trust sent lease termination notices under Section 106 of the Transfer of Property Act after the tenants stopped paying rent. When the trust filed an appeal in the court, it was dismissed

FSSAI protects public health and well-being, while also strengthening the competitiveness and sustainability of the food industry. However, challenges in this domain are constantly shifting due to factors like globalization, urbanization, climate shifts, and new pathogens. This necessitates ongoing improvement and innovation in food safety practices and regulations. To meet this crucial need, the Food Safety and Standards Authority of India (FSSAI) has rolled out the Food Safety Training and Certification (FoSTaC) program, a comprehensive training and certification network for food businesses across the entire food value chain. FoSTaC aspires to develop a pool of highly trained and certified food safety supervisors (FSS) who can uphold dedication to food safety regulations and good hygiene and manufacturing practices within their respective food businesses. FoSTaC FSSAI The Food Safety Training and Certification (FoSTaC) is an initiative of the Food Safety and Standard Authority of India (FSSAI). Food safety training is conducted under FoSTaC for target groups in the food business to maximise awareness and knowledge of food safety policies and regulations to ensure food hygiene and safety. FSSAI provides that all licensed food businesses should have at least one certified and trained food safety supervisor under FoSTaC for every 25 food handlers on each food premises. Thus, every Food Business Operator (FBO) must have a food safety supervisor certified under the FoSTaC programme. FoSTaC is a short training course authorised exclusively by FSSAI, but a training partner conducts the FoSTaC training module. What are the objectives of the FoSTaC? Encouraging positive behaviors and implanting food safety as a shared value across the nation. Instructing responsible food businesses towards voluntary adherence to the Food Safety and Standards Act and regulations. Bridging the skill gap in the food industry by training and certifying competent individuals. Equipping food businesses with the knowledge and tools to achieve and maintain top-notch hygiene and sanitation standards. FoSTaC Course Eligibility Requirements for Trainees Basic Level: These courses are ideal for small businesses and final-year undergraduate students in nutrition, hospitality, food science, or related fields. Six months of relevant experience (depending on the course) helps you hit the ground running. Advanced Level: Advanced courses are mandatory for all food businesses except small ones and perfect for postgraduate students in food science, nutrition, hospitality, or allied fields. A minimum of one year of relevant experience (depending on the course) unlocks new doors in food safety knowledge. Special Level: These courses cater to areas like milk, meat, seafood, health supplements, etc. Bring at least two years of relevant experience (depending on the course) and get specialized training to excel in your chosen field. Food Safety Courses Under FoSTaC FoSTaC offers 17 different courses for different types of food businesses on different competency levels. The duration of each course is 8-12 hours spreading over 1-2 days. The domain experts have developed the courses. The training modules are based on manufacturing practices or general hygiene as provided under Schedule 4 of the FSS regulation. The FoSTaC course has been divided into three levels which are the basic, advanced and special courses. The training for the food safety supervisors under the three FoSTaC courses is conducted through the face to face mode. FSSAI has created training content for the three courses, available in English and translated into other regional languages also. The details of the FoSTaC courses for food safety supervisors training (trainees) are provided below: Sl.No. FoSTaC Course Duration (per day) Optional/Mandatory Applicable food business 1. Level 1 for manufacturing units 4 hours  Recommended for all small manufacturing units. For every type of small manufacturing or processing unit. 2. Level 2 for manufacturing units 8 hours Mandatory for every manufacturing unit other than milk products and milk processing units and health nutraceuticals and supplements. Every food processing unit other than milk products and milk processing unit, and health nutraceuticals and supplements. 3. Milk and milk products 12 hours  Mandatory for all milk products and milk processing units. All milk products and milk processing units. 4. Meats and poultry 12 hours Mandatory for all poultry and meat processing unit. All poultry and meat food processing units except small slaughterhouses. 5. Seafood and fish 8 hours Mandatory for all seafood and fish processing units. All seafood and fish processing units. 6. Health supplements 8 hours Mandatory for all health supplement units. All health nutraceuticals and supplements processing units. 7. Level 1 for bakeries 4 hours Recommended for all small bakery units. Small scale bakery processing units. 8. Level 2 for bakeries  8 hours Optional for bakeries. All bakery processing units. 9. Edible oil and fats 8 hours Optional for fats and edible oil manufacturing units. All fats and vegetable oils processing units. 10. Water and water-based beverages 8 hours Optional for water and water-based beverages processing units.  All water and water-based beverages processing units. 11. Level 1 for retail units 8 hours  Recommended for small retail units. For all types of small retail shops. 12. Level 2 for retail units 8 hours  Mandatory for all retail units. All wholesalers and retailers. 13. Level 1 for transport and storage 8 hours  Recommended for all small transport and storage units. For all types of small transport and storage units. 14. Level 2 for transport and storage 8 hours  Mandatory for all transport and storage units. All food transport and storage units. 15. Level 1 for catering 8 hours Recommended for all small catering units.  All types of small catering units. 16. Level 2 for catering 8 hours Mandatory for all catering units. All catering establishments, including hotels, restaurants, caterers, Dhabas, flight catering, rail catering, canteens etc. 17. Street food vendors 4 hours  Recommended for all street food vendors. All street food vendors. FoSTaC Application Process Visit the official FoSTaC website https://fostac.fssai.gov.in/index. Scroll further down and select the ‘Register‘ button located under the section titled ‘Get Food Safety Supervisor’s Certificate‘ on the homepage. Complete the trainee application form by providing personal information, address particulars, and business details, then press the ‘Submit‘ button. The screen will show the FoSTaC unique username ID and

According to rule 2A of the Income Tax Rules, HRA for salaried individuals is accounted for under section 10 (13A) of the Income Tax Act. Similar to this, self-employed people are not taken into account for HRA exemption under this provision but may still be eligible for tax benefits under section 80GG of the Income Tax Act. What is HRA (House Rent Allowance) House Rent Allowance is an allowance given by an employer to an employee to cover the cost of living in rented housing.  HRA is not entirely taxable, even though it is a part of your salary. A portion of HRA is excluded from taxation under Section 10 (13A) of the Income Tax Act of 1961, subject to some provisions. Until calculating taxable income, the sum of HRA exemption is deducted from the overall income, which allows an individual to save money on taxes. However, bear in mind that if an employee lives in his or her own home and does not pay rent, the HRA collected from his or her employer is entirely taxable. Is HRA Taxable? HRA is a part of your salary income and therefore, it is initially considered as your taxable income. However, if you live in a rented accommodation, you can claim a tax exemption either – partially or wholly under Section 10(13A) of the Income Tax Act. This is popularly known as HRA exemption. If you don’t live in a rented accommodation, this allowance is fully taxable. Who can avail of HRA? This tax incentive is only applicable to salaried people who have an HRA portion of their pay structure and live in rental housing. The allowance is not available to self-employed workers. HRA for the Self-Employed As per the Income Tax Act regulations, self-employed individuals cannot claim HRA, but they certainly can avail of tax deductions towards the rented housing under Section 80GG. HRA for Salaried Individuals According to Section 10 (13A), rule number 2A of the Income Tax Act, salaried individuals can claim exemptions for HRA. How to Claim HRA Exemption? Live in rented accommodation. Receive HRA as part of your CTC Submit valid rent receipts and proof of rent payments. The HRA exemption calculation will depend on various factors like salary, rent paid, HRA received by the employee and city of residence of employee. How to Calculate HRA Exemption? The lowest of the following can be claimed by an individual as an HRA exemption: Actual HRA received Actual rent paid (-) 10% of basic salary + Dearness Allowance 50% of [Basic Salary + Dearness Allowance] for those living in metro cities (Delhi, Mumbai, Kolkata, Chennai) 40% of [Basic Salary + Dearness Allowance] for those living in non-metros Example of HRA Calculation Consider the situation of Mr. Shiva, a salaried person who lives in Mumbai. He pays a monthly rent of Rs.10,000 for his leased accommodation. This equates to Rs.1.2 lakh per year. His monthly earnings as seen in the table below: Per month, he has a PF of Rs.2,000 and a technical tax of Rs.200 deducted from his pay. In Mr. Shiva’s case, the tax-free portion of his HRA will be the lowest of the following, based on his annual earnings: Basic Salary Rs.30,000 HRA Rs.13,000 Conveyance Allowance Rs.2,000 Special Allowance Rs.3,000 Leave Travel Allowance (LTA) Rs.5,000 Total Earnings Rs.53,000 Mr. Shiva will receive Rs.84,000 in tax exemption on HRA since it is the lowest value above. The remainder of his HRA will be taxed according to his income tax bracket. Actual HRA element of salary: Rs.13,000 into 12 = Rs.1.56 lakh 50% of basic salary, as he stays in Mumbai: 50% into Rs.30,000 into 12 = Rs.1.80 lakh Actual rent paid minus 10% in basic salary: (Rs.10,000 into 12) – (10% into Rs.30,000 into 12) = Rs.1.2 lakh – Rs.36,000 =  Documents Required for HRA Deduction Here is the list of documents required for HRA exemption- An employee is required to furnish PAN card details and a copy of the landlord/property owner if the rent paid during the given financial year is more than Rs1,00,000 in order to claim HRA tax exemption. The receipts of rent paid by the employee. Note that the receipts should include the Date and Name of the landlord, PAN card details of the landlord, Name of the tenant, Address of the rented house, Duration of stay, revenue stamp, Signature of the landlord on the revenue stamp, etc. FAQs How to submit HRA proof for Income Tax Return? You will be required to furnish documents like rent receipts and rental agreements to the employer to claim HRA exemption. If the rent payment exceeds Rs 1 lakh p.a., then the PAN of the landlord is required to be submitted. What is the maximum limit for HRA? As per Section 10(13A), an employee is eligible to claim a House Rent Allowance deduction maximum up to the actual HRA component that is received from his/her employer.

NBFCs are the key pillars of the financial sector, elevating financial inclusivity for those experiencing capital or credit issues. The advent of NBFCs has harmonized the financial sector and broadened credit accessibility, spanning almost all kinds of entities regardless of footprint or sector. NBFCs in India experience stringent operational norms to keep things transparent and legitimate. They have a long list of compliances to follow underpinned by governing authority i.e. Reserve Bank of India. This article delves into the NBFC compliance checklist to ascertain what rules exactly apply to them. Meaning of NBFC NBFC is define under section 45I(f) of the Reserve Bank of India Act, 1934 means a financial institution involved in the business of loans and advances, stocks, hire-purchase, acquisition of shares, chit business, insurance business, or other business as notified by the RBI. However, an NBFC does not include any institution whose principal business is agriculture activity, industrial activity, purchase or sale of goods, or providing any services and doesn’t hold any assets of customers other than its own. Types of NBFCs Investment and Credit Company (ICC): An ICC is an NBFC that primarily deals in investing in shares, bonds, or debentures; Lending and Asset financial activities. Infrastructure Finance Company (IFC): An IFC is an NBFC that provides long-term finance for infrastructure projects. Core Investment Company (CIC-ND-SI): A CIC-ND-SI is an NBFC that holds more than 90% of its assets in the form of investments in shares, bonds, or debentures of other group companies. Microfinance Institution (MFI): An MFI is an NBFC that provides small loans and other financial services to low-income households. Factoring Company: Factors are NBFCs that primarily deal in factoring business, which involves buying accounts receivable of businesses and providing them with funds. Housing Finance Company (HFC): An HFC is an NBFC that provides finance for the purchase or construction of houses. Account Aggregators (NBFC-AA) – Involving the functions of account aggregation. Infrastructure Debt Fund NBFC (IDF-NBFC)- It provides the long-term debt flow into infrastructure projects. Peer to Peer Lending (P2P)- Involving the business of a peer-to-peer lending platform, majorly IT driven. Mortgage Guarantee Companies (MGC) Understanding the Significance of NBFC Compliance Unlike other institutions or entities, NBFCs experienced stiff regulations to stay compliant. The operational norms for them have increasingly tightened to keep them on track. The recently launched RBI guidelines have made things even more challenging for them. As per the Master Direction, NBFC Returns (Reserve Bank) Directions, 2016, these entities are required to file myriad returns to the Reserve Bank concerning their: Deposit acceptance ALM Prudential Norms Compliance Non-compliance can lead to several repercussions, including stiff penalties. Therefore, knowing these directives is as important as paying attention to business operations. Applicability of Directions and Important Compliances Annual Return: NBFCs are needed to submit an annual return to the RBI in the given format within 90 days of the end of the financial year. Audited Financial Statements: NBFCs are needed to prepare and submit audited financial statements to the RBI in the given format witing 6 months from the end of the financial year. Prudential Norms: NBFCs are needed to maintain the minimum capital adequacy ratio, maintain minimum liquidity requirements, and follow asset classification and provisioning norms as specified by the RBI. KYC Norms: NBFCs are required to follow the Know Your Customer (KYC) norms while opening accounts of customers. Fair Practices Code (FPC): The FPC outlines the standards and practices to be followed by NBFCs while conducting business activity. NBFCs are required to follow the FPC while dealing with customers.   Submission of Returns: NBFCs are needed to submit many periodic returns to the RBI. These involve monthly and quarterly retune on prudential norms, asset, classification, and provisioning, among others. Audit and Inspection: NBFCs are subject to periodic audits and inspections by the RBI to make sure the compliance with regulatory requirements. Anti-Money Laundering (AML) and Combating of Financing of Terrorism (CFT): NBFCs are required to follow AML/CFT instructions issued by the RBI to prevent money laundering and terrorist financing activities. Duties and Responsibilities of Auditors in relation to NBFCs Audit of Financial Statements: Auditors are responsible for auditing the financial statements of NBFCs to provide an opinion on the accuracy and reliability of the financial information presented. This includes verifying the financial transactions, accounting policies, and disclosures made by the NBFC in accordance with the applicable accounting standards and regulations. Reporting of Frauds: Auditors are required to report any frauds or irregularities detected during the audit to the management and the audit committee of the NBFC. They are also required to report to the RBI if the frauds are material or if there is any violation of regulatory norms. Compliance with Regulatory Norms: Auditors are required to verify and ensure that the NBFC is complying with the regulatory norms and guidelines issued by the RBI. This includes verifying compliance with the prudential norms, KYC norms, and anti-money laundering (AML) and combating of financing of terrorism (CFT) guidelines. Review of Internal Controls: Auditors are required to review the internal control systems of the NBFC to assess their effectiveness in preventing and detecting frauds, errors, and irregularities. They are also required to provide recommendations for improving the internal control systems. Certification of Compliance: Auditors are required to issue a certificate of compliance with regulatory norms to the NBFC, as prescribed by the RBI, at the end of each financial year. Communication with Shareholders: Auditors are required to communicate with the shareholders of the NBFC through the management on matters related to the audit, including any significant findings or issues identified during the audit. Continuing Professional Development: Auditors are required to maintain their professional competence and keep themselves updated with the latest developments in the accounting and auditing standards, regulations, and best practices. NBFCs Compliances as Specified by the RBI Minimum Capital Adequacy Ratio (CAR): NBFCs are required to maintain a minimum CAR of 15% of their risk-weighted assets. The CAR is a measure of a company‘s financial strength and ability to absorb losses. Liquidity Norms: NBFCs are required to maintain a minimum level of liquidity to meet their obligations as they arise. The liquidity requirements are specified based on

The hospitality industry is growing, and as budget travel has increased, budget-friendly hotel companies such as OYO have grown in popularity. If you’re an entrepreneur looking to enter the hotel industry, an OYO hotel franchise could be a good fit. But, before you get started, you need to understand the OYO franchise cost so that you can make an informed selection. A townhouse, in general, refers to a residential property inhabited by a single family, which shares its boundaries with other independently owned units. Akin to row houses, an owner of a townhouse generally shares one or more walls with the other. On a different note, OYO Townhouse caters to the needs of the millennial traveler through its accommodation services backed with stellar features offering optimized comfort, efficiency, convenience, and affordability; in a setting that resembles that of a townhouse About OYO OYO rooms entered the hospitality segment in the year 2013 courtesy its founder, Ritesh Agarwal; and have emerged as the country’s largest hospitality company in a shorter span of five years. It holds its territorial prowess over 230 Indian cities and has extended its portfolio to Malaysia and Nepal. The entity seeks to establish itself as the most preferred and trusted brand in the world. The facility of Ola app has revolutionized the industry, as it enables people to search and book rooms, request for room service, avail cab services, and look out for nearby OYO hotels. OYO introduced the concept of Townhouse more recently in 2017 as a managed hotel-brand designed to function as  a social hotspot catering to city dwellers and the new generation of lodgers. The Townhouse would offer the traveler stellar features and dynamic services, with the added benefit of a hyper-local addres OYO Franchise Costs and Models Benefits Offered by OYO Franchise Model Description Initial Investment Range Key Features OYO Townhouse Franchise Premium affordable hotels with consistent style and features. Requires a minimum of 10 rooms. ₹1 crore – ₹2 crore (approx. $125,000 – $250,000) Property refurbishment, brand standards compliance OYO Flagship Franchise Transformation of existing hotels/resorts into OYO-branded properties. Flexible in size and design. One-time business success fee: ₹2 lakh (approx. $2,500) Minor modifications to meet OYO standards   Benefits Offered by OYO Top quality property makeover. Hassle-free operations. Transparency in reviews. Financial backing. A promised occupancy rate of 80% for each day. A track record of guests who had a happy experience, and that of those who came back. Well established brand. FICO business format. Profitable ROI (Returns on Investment). Designed for business, leisure, and pleasure. Smarter rooms. Smarter spaces. Smarter buildings. Smarter service. Smarter locations. Guaranteed returns from the 7th month of association. Secured Investments. Rental Charges at the Townhouse OYO rooms charge anywhere between INR 2,500 and 4000 per day for their townhouse facility. Financial Requirements Aspiring entrepreneurs are required to invest a sum of INR 1 crore-2 crore to launch an OYO Townhouse franchise, in addition to the working capital and investment reserves. As per the claims of the company, the franchise would receive an ROI of 40%, resulting in a shorter payback period. Infrastructural Specifications The townhouse can be constructed in a commercial property scaling to a Square feet of 3000-5000. The property could be located near a tourist hub or a particular place in the city or town which may draw people in. Proposed Area of Expansion OYO rooms are currently located at various jurisdictions, but the pursuit of growth drives one to make a march into uncharted territories. The following locations have been shortlisted for the purpose, though not all are uncharted by the group : North Zone Delhi Haryana Himachal Pradesh Jammu and Kashmir Punjab Uttaranchal Uttar Pradesh South Zone Kerala Karnataka Tamil Nadu Andhra Pradesh Telanagana East Zone Assam Meghalaya Mizoram Tripura Arunachal Pradesh Manipur Nagaland West Bengal Sikkim Odisha West Zone Gujarat Rajasthan Maharashtra Goa Enrollment Procedure The applicant can make an application for the opportunity by either visiting the OYO website and entering the mandatory and essential details. Post receiving the application, the company would contact the applicant if it feels that the particular candidate is a good fit for the endeavor. Training OYO accords its business partners with the facilities generally provided to all franchisees, which includes the likes of induction training, expert guidance from the head office to establish the franchise, field assistance, and operating manual. Duration of Agreement The business partnership between OYO and the franchise would be pursued with a five-year business agreement, which is renewable upon expiry. FAQs What is OYO Townhouse? OYO Townhouse is a premium hotel brand from OYO, designed for millennial travelers. It focuses on providing a stylish, affordable, and comfortable experience, blending hotel, home, and café-style elements. How does the OYO Townhouse franchise model work? OYO Townhouse works on a franchise model where OYO partners with hotel owners to rebrand and upgrade their properties under the OYO Townhouse brand. OYO manages operations, marketing, and bookings, while the property owner handles day-to-day management.

The National Savings Certificate (NSC) program is a fixed-income plan. It is a popular savings product in India. This program may be activated at any Post Office. The NSC plan is a project of the Government of India. As a result, it ensures returns. This savings bond encourages investors with low and moderate incomes to save. They may also be eligible for a tax break.  Section 80C of the Income Tax Act exempts NSC investments up to Rs 1.5 lakhs from tax. They have a five-year lock-in term. Fixed interest is earned on NSC certificates. The current interest rate is 7.7%. NSC, like other fixed-income instruments such as PPF and Post Office FDs, is a safe and low-risk vehicle. The required minimum deposit is Rs 100. There is no maximum investment limit in NSC. For NSC investments, there is no TDS. What is National Savings Certificate National Savings Certificate is a savings bond scheme that encourages subscribers, primarily small to mid-income investors, to invest while saving on income tax under Section 80C. NSC – Key Information Interest Rate 7.7% per annum Minimum Investment Rs.1,000 Lock-in Period 5 years Risk Profile Low-risk Tax Benefit       Up to Rs.1.5 lakh under Section 80C You can invest in NSC from the nearest post office in your name, for a minor or with another adult as a joint account. NSC comes with a fixed maturity period of five years. There is no maximum limit on the purchase of NSCs. Features & Benefits of NSC Interest Rates : The certificates earn an annual fixed interest, which is revised every quarter by the government, thus guaranteeing a regular income for the investor. Maturity Period : The scheme originally had two types of certificates – NSC VIII Issue (5 year tenure) and NSC IX Issue (10 year tenure). With the discontinuation of the latter in December 2015, only the former issue is available for subscription. Tax Saver: As a government-backed tax-saving scheme, the principal invested in NSC qualifies for tax savings under Section 80C of the Income Tax Act up to Rs. 1.5 lakhs annually. Investment Flexibility : You can invest as small as Rs. 100 as an initial investment with no maximum limit. Accessible: It can be easily bought from any post office on submission of required KYC documents. Also, it is easy to transfer the certificate from one PO to another as well as from one person to another without impacting the interest accrual/maturity of the original certificate. Loan Collaterals: NSC certificates are accepted as collateral or security for secured loans in Banks and NBFCs. In such a case, a transfer stamp is put on the certificate and transferred to the bank while disbursing loans. Power of Compounding: Interest earned gets compounded annually and reinvested by default but will be payable only at maturity. Nomination: The investor can nominate any family member (even a minor) so that they can inherit it in the case of an unfortunate event of the investor’s demise. Corpus on Maturity: The investor will receive the entire corpus value on maturity. As there is no TDS on NSC payouts, the subscriber should pay the applicable tax on it while filing his Income tax returns or paying his advance tax. Premature Withdrawal: Generally, one cannot exit the scheme early except on the death of an investor, on a court order, or on forfeiture by a pledgee who is a Gazetted Government Officer for it. Who Should Invest in NSC? The NSC offers guaranteed interest and complete capital protection, just like some other fixed income instruments – Public Provident Fund and Post Office FDs. However, they cannot deliver inflation-beating returns like tax saving Mutual Funds and National Pension Systems. NSC Interest Rate History NSC Interest Rates are periodically reviewed by the Ministry of Finance, leading to revisions every quarter. Interest on NSC is compounded annually and disbursed upon maturity. Below is a chart depicting the historical NSC interest rates from previous years: Financial Year  April-June July-September October-December January-March 2023-2024 7.7% 7.7% 7.7% 7.7% 2022-2023 6.8% 6.8% 6.8% 7.0% 2021-2022 6.8% 6.8% 6.8% 6.8% 2020-2021 6.8% 6.8% 6.8% 6.8% 2019-2020 8.0% 7.9% 7.9% 7.9% 2018-2019 7.6% 7.6% 8.0% 8.0% 2017-2018 7.9% 7.8% 7.8% 7.6% 2016-2017 8.1% 8.1% 8.0% 8.0%   Eligibility Criteria for NSC Hindu Undivided Families (HUFs), Trusts, Private and public limited companies are not eligible to invest in NSC. The individual must be an Indian citizen. Non-resident Indians (NRIs) are not eligible to invest in NSC. There is no age limit for individuals in order to purchase a certificate. Documents Required to Apply for NSC The NSC application form. Investors to provide an original identification proof such  Passport Permanent Account Number (PAN Card)  Voter ID  Driving licence  Senior Citizen ID, or Government ID for verification. Photograph. Address proof like electricity bill, Passport, telephone bill, bank statement along with a cheque. How to Invest in NSC? Steps to Invest in NSC Offline To invest in NSC offline, follow the listed steps:   Step 1: Collect the NSC application form online or at any post office.  Step 2: Fill out the form with all the details.  Step 3: Submit the form with self-attested copies of the required KYC documents.   Step 4: Take the original documents for verification and pay the amount you want to invest. Step 5: Upon approval, collect the NSC of your application.   Steps to Apply for NSC Online Step 1: Open Department of Posts (DOP) net banking and log in.  Step 2: Under ‘General Services’, select ‘Service Requests’.  Step 3: Click on ‘New Requests’ and choose ‘NSC Account – Open an NSC Account (For NSC)’.  Step 4: Enter the deposit amount and choose the debit account linked to the PO savings account.  Step 5: Choose ‘Click Here’ to run through the terms and conditions. Accept them once done.  Step 6: Enter the transaction password and click on ‘Submit’.  Step 7: The deposit receipt will be there to view and download.  Step 8: Login and click on ‘Accounts’ to view the details of your NSC account FAQs What is NSC full form? NSC stands for National Savings Certificate, a government scheme promoting investment. How to Withdraw NSC After Maturity Make a visit to the post office

The National Small Industries Corporation (NSIC) registers Micro, Small & Medium Enterprises (MSME) under a Single Point Registration scheme to offer them unified support services. The corporation is a mediator between the Government of India and the small-scale industries. It aims to promote the growth and competitiveness of the MSME sector by launching various schemes. All MSMEs, including Udyam Aadhaar, registered MSMEs (MSMEs provided with a 12-digit Aadhaar number) are eligible for NSIC registration.  What is NSIC? NSIC is a certified Government of India enterprise that works on promoting and fostering the growth of small and medium-scale industries across India. Through a network of technical centres, NSIC covers different sectors, including marketing, technology, finance, etc.   To enhance competition and integrate support services, the NSIC has developed several schemes. It also offers marketing support and is a facilitator for several national and international enterprises. NSIC also enables single-point registration for all government purchases. This allows micro and small enterprises to obtain benefits under Public Procurement Policy for Micro & Small Enterprises. Documents Required Copy of Acknowledgement of MSME registration Details of of plant & machinery and raw material with original purchase price Performance Statement  Self-attested copy of ownership documents of the premises or copy of lease deed. Declaration/Certificate from the Proprietor/Partner/Director whether or not they have any link with large scale unit(s). List of raw materials and finished goods in stock. Copy of BIS license, if applicable. Copy of ISO 9000 (Optional). List of technical personnel employed in production and services. Item for which registration required with detailed specification(s) Write-up on quality control measures adopted by the firm for ensuring quality of raw material, bought out item (s) for assembly and sub assembly and for products/stores in process and the finished products quality control List of quality control equipment and testing facility available in factory Copy of type test report from Independent lab, where applicable as mentioned in relevant standard. Latest Electricity Bill Copy. Audited Balance Sheet, Trading Account and Profit & Loss Account for the last 3 years duly signed by the authorized person under his seal.  Statement showing the Results of Operation for the last 3 years duly signed by Chartered Accountant under his seal. Bankers’ Report giving details of financial status of the applicant firm as per Performa “F” of application form. Copy of Permanent Account No. (PAN) Partnership Deed Form ’A’ from Registrar of Firms showing the names of the partners. Certificate of Incorporation Memorandum and Articles of Association Eligibility Criteria for NSIC Registration All micro-enterprises in manufacturing with investments up to Rs.25 lakh and those in the service sector with investments up to Rs.10 lakh.    Small industries with investment in plant and machinery up to Rs.5 crore or service sector up to Rs.2 crore.  Any enterprise holding valid MSME certificates or has completed a year of business.  For business ventures not completing one year of commencement, NSIC registration is possible under the Single Point registration scheme.  How to Register for NSIC? Step 1: Eligible applicants should visit the official website of NSIC to obtain an NSIC certificate.  Step 2: Micro and Small Industries must register themselves with the MSME Data Bank. They must use their UAM number and PAN to begin the process. Step 3: Fill in the required details in the application form.  Step 4: Depending on the Unit enterprise category (Micro/Small), applicants must pay the respective NSIC registration fees.  Step 5: An Inspection agency performs an inspection of store items in accordance with the domain expertise and jurisdiction.  Step 6:  Once the documents and payment get verified by the authorities, applicants can collect their final certificates online or via mail.  Registration Charges Registration Fee The NSIC charges the following fee for new registration based on turnover and MSME classification. Less than Rs.1 Crore Turnover: Micro enterprises having less than Rs.1 crore turnover, are charged a fee of Rs.3000, while small enterprises having a turnover of less than Rs.1 crore are charged a fee of Rs.5000. More than Rs.1 Crore Turnover: Micro enterprises having more than Rs.1 crore turnover, are charged a fee of Rs.3000 plus Rs.1500 for each crore of additional turnover. Small enterprises having a turnover of less than Rs.1 crore are charged a fee of Rs.5000 plus Rs.2000 for each crore of additional turnover. The total cap on registration fee is set at Rs.1 lakh. Inspection Charges In addition to the registration fee, MSME enterprises must pay for inspection charges, as decided by the inspecting agency. The inspection charges are set at Rs.2000 for micro enterprises and Rs.3000 for small enterprises. Professional Fee Finally, the MSME unit must pay professional fee to RITES Limited and Consultancy Development Centre for undertaking physical inspection. Professional fee are set at Rs.6000 for micro enterprises and Rs.8000 for small enterprises. Features and Benefits of NSIC Registration NSIC registration allows the small industry sector to continue operations through loans and different schemes.  The NSIC oversees the documentation process and helps business ventures to outline their short and long-term growth. With the provision for loaning capital with the best interest rates, NSIC assures complete guidance. Apart from extending capital for business development, they also ensure that enterprises can switch banks for credits. Small enterprises often face a dearth of capital and basic equipment to begin functioning. NSIC ensures that companies can purchase raw materials, equipment, and other machinery required for continuing production.  NSIC provides digital and technical support to small enterprises for skill upgrading. They may also conduct sessions to provide useful knowledge on market economics and business development.  NSIC promotes self-employment and acts as a consultant for business activities FAQs What is the validity of NSIC registration? MSMEs receiving NSIC certificates through Single Point Registration are liable to use it for 2 years, after which they should perform NSIC online renewal. MSMEs can also receive a Provisional NSIC certificate with a budgetary limit of Rs. 5 lakhs, valid for 1 year. What are some activities that are not eligible for Single Point Registration (SPR) in the NSIC scheme? The following activities are not eligible for SPR:Manufacture of medicines and drugs unless they are MSE units