THE LOWER HOUSE
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.
Budget 2024: Tax cuts and lower rates top developers’ Budget wishlist
Budget Expectations: As the Union Budget 2024 nears, real estate developers eagerly await tax rationalisation and interest rate cuts for financial viability and growth. The CREDAI and Colliers survey underscores the need for GST input tax concessions and lower interest rates to boost project feasibility. Developers anticipate strong demand in Tier I and II cities, with hopes of sustaining momentum in 2024. Expectations include cost management solutions, price increases, and exploring new residential models. Developers and stakeholders look to Budget 2024 for crucial support in driving sector growth.
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.
Never had any intention to lower dignity of SC: IMA chief tenders apology
IMA chief Dr R V Asokan apologized for remarks on the Supreme Court's observation in the Patanjali case and submitted an unconditional apology. Court commented on April 23. Regretted to PTI News. IMA addresses malpractice, engages patients on ethical practices, released joint Bangalore declaration. Malicious campaigns against modern medicine professionals and trust issues addressed.
What to expect from real estate and infra sector in upcoming Budget? Keki Mistry answers
Well, I think the focus will be on affordable housing in my opinion and there will some scheme or the other that will come up for the affordable housing segment.
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
The dollar weakens after Powell's dovish U.S. bond yield comments, amid potential Japanese intervention during U.S. holiday. Concerns over Biden presidency and easing long-term Treasury yields persist, as local inflation remains steady and the Australian dollar sees a rise.
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Unveiling Unicorn Offices: A new era of boutique workspaces at Marathon Futurex, Lower Parel
Experience the dynamic environment at Unicorn Collection, Marathon Futurex, curated by Marathon Group to foster innovation and growth for entrepreneurs in a prime business district.
Nifty rides with bulls, can hit 24,600: Analysts
Stocks expected to show bullishness include Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Apollo Tyres, Tata Motors, and BEL. Consider a moderately bullish strategy using a Bull-Call Spread for the July 4 weekly expiry.
Om Birla 2.0: NDA candidate elected as the Speaker of the 18th Lok Sabha
Om Birla, the NDA candidate, was declared Lok Sabha Speaker on Wednesday after Prime Minister Narendra Modi moved a motion in his support. Birla, a three-time MP from Kota, Rajasthan, competed against Congress' K. Suresh, an eight-term MP from Mavelikara, Kerala. This marks the fourth contested Speaker election in Lok Sabha history.
Affordable housing suffering; luxury continues to show bumper sales: Gulam Zia
Commercial real estate also is doing phenomenally well. If I have to give a few numbers, the last quarter and we saw almost about 14 to 15 million square feet of gross absorption of office space in the country, the top seven-eight markets that we always talk about.
Income tax saving: Sold land, house or jewellery? Know how indexation benefit can help you lower your long-term capital gains
Capital gains taxation: You can save your net capital gains tax outgo by using indexation benefits allowed by income tax laws. File ITR now and pay a lower amount of capital gains tax. However do note only long term capital gains are eligible for indexation. Short term capital gains are not eligible for indexation.
PNB Housing Finance shares tumble nearly 5% after large block deal
Shares of state-owned PNB Housing Finance dropped 4.8% to Rs 800 in early Thursday trading on the BSE, after a block deal where 1.36 crore shares changed hands. Asia Opportunities Fund and General Atlantic likely sold a 5.2% stake at a floor price of Rs 773, an 8% discount from the previous close of Rs 840.
Asian shares mostly lower as China reports factory output slowed
Factory output fell 5.6% in China in May, the government reported, below analysts' forecasts and slowing from 6.7% the month before. Retail sales rose just 4.1% in the first five months of the year.
Gold inches lower as firmer bond yields dent appeal
Gold prices fell due to higher U.S. Treasury yields as investors awaited economic data to predict Federal Reserve's interest rate cuts.
Balancing Act: With greater capex comes lower dividend
The dividend payout ratio is the proportion of a company's earnings paid to shareholders as dividends. This payout tends to be lower in times when companies spend more on expansion. Companies with a high cash flow in mature industries tend to have higher dividend payout ratios.
From Sheikh Hasina to Wickremesingh: Check full list of global leaders that will attend Modi's oath ceremony
Narendra Modi Oath Ceremony: The people cited above said top leaders of Bangladesh, Sri Lanka, Bhutan, Nepal and Mauritius are likely to be among the foreign leaders to be invited for Modi's oath-taking ceremony. The media division of Sri Lankan President Ranil Wickremesinghe's office said Modi invited him to the swearing-in ceremony. It said Wickremesinghe accepted the invite.
Tokyo stocks open lower
Tokyo stocks opened lower on Wednesday, weighed down by a stronger yen against the dollar despite gains on Wall Street. The dollar fetched 155.35 yen in early Asian trade, up from 154.80 yen in New York, but still down from 155.91 yen in Tokyo late Tuesday.
Om Birla becomes first Lok Sabha speaker in 20 years to be re-elected as MP
Om Birla won the Kota parliamentary seat with a margin of over 41,139 votes, becoming the first presiding officer in 20 years to be re-elected to the Lower House.
I know system aligned against lower castes as my grandmother, father were PM: Rahul Gandhi
Congress leader Rahul Gandhi highlighted the systemic alignment against lower castes, drawing from his family's political legacy. He emphasized the need for representation of 90% of the population in power structures.
U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
Existing home sales fell 1.9% to 4.14 million in April, with median prices rising to $407,600. Lawrence Yun expressed frustration over the sales drop.
LIC Housing Finance eyes lower double digit loan portfolio growth in FY25
LIC Housing Finance targets "lower double-digit" loan portfolio growth this fiscal, focusing on affordable housing, says MD Tribhuwan Adhikari. March saw a 4.3% y-o-y loan portfolio rise to Rs 2.87 lakh crore. Annual loan disbursement dropped 8% to Rs 58,937 crore, partly due to cautious lending amid competition from other lenders.
Lok Sabha polls: Race for Lower House enters 4th lap on Monday
This phase is crucial for Andhra Pradesh chief minister YS Jagan Mohan Reddy. In 2019, his YSR Congress Party had won 22 out of 25 Lok Sabha seats and registered a thumping victory in the assembly elections. TDP-led NDA is posing a serious challenge to Reddy's popularity this time. It is contesting polls in alliance with BJP and Jana Sena Party. Congress is led by Reddy's sister YS Sharmila.
Longest-streak ever! Fear gauge VIX rises for 11th day on election concerns
The so-called fear gauge has jumped as much as 88% from a low in April amid speculation that Prime Minister Narendra Modi’s party may win fewer seats than initially expected.
Pidilite Industries' Q4 Results: Profit rises 6% to Rs 301 crore on lower costs
India's Pidilite Industries , which makes Fevicol adhesives and Dr. Fixit waterproofing products, posted a 6.2% jump in fourth-quarter profit on Tuesday, driven by lower input costs.
Man hit me twice, tried to sit in car: BJP's Locket Chatterjee accuses TMC supporters of accosting her vehicle
Launching a scathing attack on TMC, the BJP leader, who is seeking a fresh term in the Lok Sabha, posted on X, "Their audacity exposes the Trinamool mafia's grip over Hooghly. Today, their thugs dared to block my pilgrimage to Maa's Puja."
Congress cautious, most opposition parties skip temple debate
The Lok Sabha discussion focused on the Ram temple, with the BJP targeting the Congress for its stand on the issue. The Opposition benches were low in attendance. The JD(U) supported the BJP and hailed the construction of the temple. Congress MP Gaurav Gogoi highlighted the neglect of socially backward sections.
Lok Sabha passes demands for grants for 2024-25
During the Parliament Budget Session, the Lok Sabha approved the 'Demands for Grants on Account for 2024-25.' Additionally, the Lower House of Parliament passed the second and final batch of supplementary demands for grants for 2023-24. On Monday, the government requested parliamentary approval for an additional net expenditure of Rs 78,673 crore in the second and final batch of supplementary demands for grants for 2023-24.
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