Construction

In a major relief to property owners, the government on August 7 amended the long term capital gains tax provision on immovable properties giving homeowners the option to choose between a lower tax rate of 12.5% without indexation or a higher rate of 20% with indexation for properties acquired before July 23, 2024. Government allows flexibility in LTCG tax calculation: Here’s a look at which...

Gurugram district magistrate Nishant Kumar Yadav on Wednesday directed residents of another “unsafe” tower – Tower J – at Chintels Paradiso Society in Sector 109 to vacate their flats within 15 days, citing an IIT-Delhi audit report following a ceiling collapse in Tower D that resulted in the deaths of two women in 2022. On February 10, 2022, renovations at a sixth-floor flat of Tower D...

The Reserve Bank of India’s decision to keep repo rates unchanged at 6.5% for ninth consecutive time aligns well with the August 7 announcement on indexation benefits on sale of property. With interest rates staying steady, EMIs will remain manageable for current and potential homeowners, potentially leading to increased home sales particularly in the price-sensitive affordable segment, said real...

There is an ongoing debate in the Indian real estate market—is renting a house better than buying? An X post by an investor and a CEO’s reply to it has again sparked a discussion on that topic on social media. While the investor spoke about the benefits of renting a house, the CEO slammed him by saying that buying is always a better option. A CEO’s reply to an investor’s “middle...

The Lok Sabha on August 7 passed the Finance Bill 2024 and amended the long term capital gains tax provision on immovable properties giving taxpayers an option to switch to a new lower tax rate or stay with the old regime that had higher rate with indexation benefit. Union finance minister Nirmala Sitharaman speaks in the Lok Sabha during the Monsoon session of Parliament on August 7. (PTI...

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...