HOUSING PROPERTIES
ITR filing: How to calculate taxable income for salaried, professional, freelancers and others
ITR filing: If you are a salaried individual then you need to know how to calculate taxable income for salary, professional, capital gains and other incomes. Once you have calculated the gross total income from various heads of income, you can claim deductions to reduce your net tax payable. Read here to know more.
Residential property sales highest in a decade: Not affordable housing, but this segment emerges as top favourite
India's real estate sector remained buoyant as residential housing sale surged to an 11-year high in the first half of 2024. A total of 1.73 lakh residential units sold during the January-June period of 2024, according to the Knight Frank report. Mumbai led with 47,259 units sold, up 16% during H12024. The premium housing sales rose to 34% market share in H1 2024, from 15% in H1 2018. Meanwhile, the affordable housing segment sales dropped to 27% in the January-July period 2024.
Housing sale in tier 2 cities increases by 11% Y-o-Y
As per the data, the sales of housing units in India’s 30 major tier II cities stood at 2,07,896 units in 2023-24 as against 1,86,951 units in the preceding financial year.
Housing sales in top 30 Tier II cities up 11% in FY24 to nearly 2.08 lakh units: PropEquity
Housing demand in India has increased by 11% last fiscal, reaching nearly 2.08 lakh units across 30 Tier II towns, according to PropEquity's report. The top 10 Tier II cities contributed 80% to the total sales in these small towns, with sales of 1,68,998 units in 2023-24. The other 20 Tier II cities include Bhopal, Lucknow, Goa, Coimbatore, Raipur, Vijayawada, Indore, Kochi, Trivandrum, Mangalore, Guntur, Bhiwadi, Dehradun, Ludhiana, Chandigarh, Agra, Mysore, Sonepat, Panipat and Amritsar.
Stable economy boosts India's housing market to new heights, scales 11-year peak
The housing property market across India is seeing substantial growth in sales volumes, driven by stable economic conditions and continued confidence, even amidst higher mortgage rates. This uptrend is led by the top eight cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad, propelling the country’s residential real estate market to an 11-year high in sales volumes during the first half of the year.
Whiteland Corp to invest Rs 5,600cr on housing project in Gurugram; partners Marriott for management
Realty firm Whiteland Corporation is set to invest Rs 5,600 crore in a luxury housing project in Gurugram in partnership with Marriott International to bring 'Westin Residences'. The project will feature 1,600-1,800 branded homes with a starting price of Rs 5 crore per unit. The investment will be primarily funded through internal accruals, with the company developing a total of 60 lakh square feet across two phases.
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Can you carry forward losses while filing ITR under the new tax regime? Read the fine print
Carry forward and set off of losses in new tax regime: The income tax laws under the old tax regime allow carrying forward and set off of losses from capital assets. However, the question arises if the same benefit is available for all capital assets under the new tax regime.
Godrej Properties buys 7-acre land in Bengaluru to build housing project worth Rs 1,200 cr
Godrej Properties has acquired a 7-acre land in Thanisandra, North Bengaluru, for developing a luxury housing project. The project is expected to yield around 9 lakh square feet of residential space, with an estimated revenue of Rs 1,200 crore. In a separate development, the company will also develop an 11-acre land parcel in Hinjewadi, Pune, focusing on group housing and high street retail, with a projected revenue of approximately Rs 1,800 crore.
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Mumbai property market sets yet another benchmark, records best-ever June; registrations rise 12%
Mumbai, India's largest and priciest property market, has achieved a new milestone by recording its highest-ever property registrations for the month of June. In June, the city saw 11,538 property registrations, marking a 12% increase from the previous year. This led to the state exchequer collecting over Rs 998 crore in stamp duty revenue, reflecting a 16% year-on-year rise
Housing sale decline by 8% Q-o-Q as prices continue to rise
During the April-June quarter, residential sales witnessed an 8% drop compared to the previous quarter, attributed to the election season, heatwave, and rising property prices. Anarock data shows that 1,20,340 units were sold in Q2 2024 across the top 7 cities, down from 1,30,170 units in Q1 2024.
Property digitisation benefits all: Enhancing transparency and efficiency in the real estate sector
The new government announces assistance for 3 crore homes under the Pradhan Mantri Awas Yojana, reinforcing GoI's commitment to affordable housing and potentially boosting GDP by over $500 bn.
Property digitisation benefits all: Enhancing transparency and efficiency in the real estate sector
The new government announces assistance for 3 crore homes under the Pradhan Mantri Awas Yojana (PMAY), potentially boosting GDP by over $500 billion.
Under-construction housing prices increase 15.2% in June quarter
Residential real estate supply surged in June quarter driven by under-construction properties, prices rose 11.7% and 15.2% sequentially, surpassing ready-to-move-in prices in Gurugram, Mumbai, Noida, and Thane.
Cheapest homes under $200,000 in the US: These are the cities where you can buy them
According to various property dealing websites and realty consultants, there are still chances you might find homes worth $200,000 in different cities in the United States. Whether they will suit your requirements lies at your discretion but it's still worth a short, looking at the importance of real-estate investing in recent days.
Housing sales likely to fall 2 pc in Apr-June to nearly 1.2 lakh units across top 9 cities
Housing sales estimated to decline 2% to nearly 1.20 lakh units in current quarter across major cities, mainly due to lower demand in Hyderabad and Pune, as per PropEquity data.
Low unsold housing stock makes room to absorb slower pre-sales growth
The tier I residential real estate inventory in India's top eight cities remains manageable, with a quarter-to-sales ratio of 11, lower than the six-year high of 13. Pune and Bengaluru have favorable unsold stock levels, while Mumbai and Chennai face high inventory build-up. Despite strong pre-sales and housing launches in FY24, the absorption rate remains comfortable. Pre-sales for tier-1 players grew 71% on-year in March. Collections increased by 29%, although leverage remains high. The gross debt to collections ratio slightly rose to 2.4x in FY24.
Nadir Godrej, family buy 3 luxury apartments in SOBO’s Malabar Hill for Rs 180 cr
Godrej Industries’ Chairman Nadir Godrej and his family have acquired three sea-view luxury apartments in South Mumbai’s Malabar Hill for a total of nearly Rs 180 crore from a real estate development subsidiary of the JSW Group. The under-construction super-luxury residential project, Ruparel House, on Ridge Road at the top of Malabar Hill with the view of Queen’s Necklace, is being developed by R House Realty, part of JSW Realty.
Mahindra Lifespace eyes Rs 8-10K crore sales in housing, industrial spaces by FY28
Amit Sinha, MD & CEO, mentioned the successful annual sales and highest pre-sales of Rs 2,328 crore in residential business for Mahindra Lifespace. They also achieved land leasing of 119.4 acres for industrial business.
High-rise skyline of the property market
India's property market is in an upcycle since the pandemic, driven by demand for larger living spaces during WFH. Real estate prices have climbed due to the wealth effect of stock market returns and incentives for affordable housing.
MahaRERA keeps registration of 1,750 lapsed housing projects in abeyance
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has put the registration of 1,750 lapsed housing projects on hold across the state and plans to take similar action on 1,137 more projects. The Mumbai Metropolitan Region leads with 761 projects affected, followed by Pune with 628. Homebuyers are advised caution, with a list of affected projects available on MahaRERA's website.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
Robust housing demand helps in faster inventory liquidation
Residential property markets in the top seven cities - Mumbai, Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad and Kolkata - have witnessed a significant 31% decrease in the time taken to sell active unsold housing inventory, showed a JLL analysis.
India's top 7 cities see 31% decline in time to liquidate unsold housing inventory
According to him, time needed to sell the unsold inventory in the premium segment has dropped from 51 months in 2019 to 29 months in the first quarter of 2024, showcasing the strong sales momentum in this segment. Apartments belonging to ticket size category of Rs 3 crore and above, have also witnessed a 11% reduction in time to sell during the same time.
Holiday home demand tapers off as rentals fall
Goa is becoming a first-home market with interest from businessmen and startup founders. Luxury second homes are in demand, especially in locations like Porvorim. Coonoor Estates is developing high-end luxury homes for buyers looking to settle down.
Properties worth Rs 1.17 lk cr sold by 18 listed realty firms in FY24; Godrej properties at top
Major real estate developers in India, including Godrej Properties, Prestige Estates Projects, and DLF, achieved significant sales bookings in the last fiscal year driven by strong demand for residential properties, especially luxury homes.
Hyderabad housing market seeing significant trend towards luxury homes: NAREDCO President
The Hyderabad property market is witnessing a surge in demand for luxurious homes with spacious layouts and modern amenities. G Hari Babu, National President of National Real Estate Development Council, discussed rising property prices and evolving market dynamics. Factors include government policies, unlimited FAR, and infrastructure development, driving significant growth in both residential and commercial sectors.
Shriram Properties inks JV for 4-acre housing project; eyes over Rs 250 cr revenue
Shriram Properties Ltd has signed a Joint Development Agreement with a landowner to develop a 4-acre housing project in Bengaluru, with an estimated revenue potential of over Rs 250 crore. The project will consist of 270 apartments with a saleable area of 3.8 lakh square feet. The project is expected to be launched in the first half of the current financial year.
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