Egattur, OMR: A magnificent city captivated by the sea.

The self-sustaining life spaces at Egattur, OMR, is spread over 120 acres and provides a holistic living experience for its inhabitants. Comprising of  2 BHK, 3BHK and 4BHK flats, this project in Chennai is strategically located on Old Mahabalipuram Road, opposite the SIPCOT IT Park. It is easily accessible by road and rail, making it one of the most sought after residential projects and luxury apartments in Chennai, Egattur OMR. Apart from being a boon to working professionals, it also provides unrestricted views of the Bay of Bengal from the apartments that elevate the experience of living here. We have also built a world-class education institution Hiranandani Upscale School (HUS) inside our property. Similarly, Bloom & Gold, our retail supermarket caters to the shopping needs of the residents. Blue Turtle Club located inside our community offers indulgent amenities and makes way for a sublime, enriched lifestyle.

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Special OFFER :Special offers on Sinovia, Amalfi, Edina & Bayview


The Finance Act, 2013 introduced a new section 194IA, which mandates tax withholding of 1 percent (1%) by the transferee (i.e. Buyer) on credits or payments (whichever is earlier) made to a transferor (i.e. seller) in relation to the transfer of immovable property, being land (other than agriculture land) or a building or part of the building, if the consideration for such a transfer of property is Rs 50 lacs or more. The said section is effective from 1st June, 2013.

In light of the above, the buyer is required under Section 194 IA of the Income Tax Act, 1961, to deduct the withholding tax of 1 percent (1%) in respect of credits or payments made to the seller, whichever is earlier, from 1st June, 2013 and deposit the same with the statutory authorities and produce the copy of the challan to the seller for its records. The credit of the amount so deposited would be given to the buyer only when the seller has ensured that the tax so paid has been correctly reflected in 26AS Statement of the Company.

For the PAN number of your seller, and in this case, the Company through which a contract for transfer of immovable property has been entered into, please contact your relationship manager, or customer service agent.

To know more about the Section 194 IA of Income Tax Act 1961, and to pay the tax through e-payments, please follow the link mentioned below which will help educate you on the process and steps to be followed to make tax payments online.
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