August 2024

Presenting a stable outlook for the residential real estate sector in financial year 2024-25, credit rating agency ICRA Limited on August 7 said that housing sales across the country’s top cities - Mumbai Metropolitan Region, National Capital Region, Bengaluru, Hyderabad, Pune, Kolkata and Chennai - are expected to witness double digit growth in 2024-2025. Housing sales across top 7 cities...

The MHADA lottery 2024, expected to be announced in the coming days, will have the highest number of homes, almost 768 apartments, up for grabs in the middle income group (MIG) category out of the total 2,030 units, according to the data shared by MHADA officials. MHADA lottery 2024, expected to be announced in the coming days, will have the highest number of homes, almost 768 apartments, up...

Hyderabad recorded a five-year high during the first half of 2024 with ₹58,481 crore in total home sales value, according to a joint report by CRE Matrix and Credai Hyderabad. This marked a 257% surge over the value of units sold during H1 2019, or a 29% compound annual growth rate, the report said. Hyderabad touches ₹58,000 crore in total homes sales during H1 2024. (Representational...

Aug 07, 2024 08:17 AM IST In Budget, Nirmala Sitharaman announced withdrawal of indexation benefits from real estate and lowered the long-term capital gains (LTCG) tax from 20% to 12.5%. The Centre has moved an amendment allowing long-term capital gains taxes on property purchases made before July 23, 2024, to be calculated under the new 12.5 per cent rate without indexation and the old 20...

Real estate and tax experts have welcomed the government’s decision to ease the long-term capital gains tax for sale of properties proposed in the Union budget 2024. Real estate and tax experts have welcomed the government’s decision to ease the long-term capital gains tax for sale of properties proposed in the Union budget 2024.(PTI/ Representative Image) The government on August 6...

The Narendra Modi government is set to ease long-term capital gains tax for sale of properties proposed in the Union budget 2024, Reuters reported. The Narendra Modi government is set to ease long term capital gains tax for sale of properties proposed in the Union budget 2024(PTI/ Representative Image) As per the report, in case of the transfer of a long-term capital asset being land or...

Aug 06, 2024 06:10 PM IST The government may allow real estate investors to continue using indexation for all transactions till July or give a choice between the old and new LTCG regimes The government is looking at several options for addressing concerns regarding the real estate sector due to the indexation removal announced in the Union Budget 2024 which has made representations pour in,...

Bengaluru-based RMZ Corporation and the Canada Pension Plan Investment Board on August 6 said that they have completed the sale of One Paramount 1, an office complex in Chennai, to Singapore-based Keppel Ltd for $264 million. RMZ Corp, CPP Investments sell office asset in Chennai to Keppel for $264 million (Representational photo)(RMZ Corporation) Located in Porur, Chennai, One Paramount 1...

Bengaluru-based real estate developer Brigade Group, through its wholly owned subsidiary, Brigade Tetrarch Private Limited, has entered into a Limited Liability Partnership (LLP) agreement to develop a ₹750-crore commercial space on Old Airport Road in Bengaluru, the company said in a statement on August 6. Brigade Group is set to develop a ₹750-crore commercial space in Bengaluru...

Aug 06, 2024 05:25 PM IST The five-year lease period commences on January 15, 2025, with a starting monthly rent of ₹3.85 crore IDFC First Bank has leased four floors spanning 1.64 lakh square feet in Oberoi Garden City of Mumbai's Goregaon East suburb, property registration documents accessed through real estate portal FloorTap.com showed. IDFC First Bank leases 4 floors spanning...