India's Capital Gains Tax Revision: A Boost for New and Long-Term Property Buyers
The recent revision of capital gains tax in India is expected to benefit new and long-term property buyers. Prestige Estates Projects, a leading property developer, believes that the changes will simplify the calculation of gains for investors and boost t
Capital Gains TaxProperty BuyersReal Estate MarketIndiaPrestige Estates ProjectsReal Estate NewsAug 01, 2024
Razack stated that the new tax rate is a good deal for medium to long-term investors and new buyers. He acknowledged that while the new tax rate might cause a slight impact on the gains from very historical properties, it remains within the expected range of capital gains.Prestige Estates had a challenging first quarter of the financial year 2025 (Q1FY25), marked by a decline in pre-sales and sales volume, and only single-digit growth in collections. However, the rest of the year is expected to be good given the strong pipeline of launches.
Razack believes home prices are currently at an optimal level and any further increases could be detrimental to sales. The company, which has a market capitalisation of ₹71,353.37 crore, has seen its shares rise 206% over the last year.\n\n About Prestige Estates Projects Prestige Estates Projects is a leading property developer based in Bengaluru, India. The company has a strong presence in the Indian real estate market and has developed several iconic projects across the country.
Frequently Asked Questions
What is the new capital gains tax rate on property in India?
The new capital gains tax rate on property in India is 12.5%.
How will the revision of capital gains tax benefit property buyers?
The revision of capital gains tax will simplify the calculation of gains for investors and benefit new and long-term property buyers.
What is the current state of the Indian real estate market?
The Indian real estate market is expected to grow, with Prestige Estates Projects expecting a strong pipeline of launches in the coming year.
What is the impact of the new tax rate on historical properties?
The new tax rate might cause a slight impact on the gains from very historical properties, but it remains within the expected range of capital gains.
What is Prestige Estates Projects' market capitalisation?
Prestige Estates Projects' market capitalisation is ₹71,353.37 crore.
Related News Articles
Revolutionizing Student Living: Curated Living Solutions and Shree Banbai Nenshi Trust Unveil Lease Deal in Juhu
Setting a new standard for non-campus student living in Juhu, Mumbai, this collaboration marks a significant milestone for the Juhu micro market.
REPL Gets Green Light from SEBI for ImpactR SM-REIT
Rudrabhishek Enterprises Limited (REPL) has secured registration for Small and Medium Real Estate Investment Trusts (SM REITs) from the Securities and Exchange Board of India (SEBI), paving the way for a new investment opportunity in the Indian real estat
Mumbai's Real Estate Luxury Boom: Urjita Master Acquires Worli Apartment for ₹105 Crore
In a significant move in Mumbai's real estate market, Urjita Master has purchased a luxury apartment in Worli for a whopping ₹105 crore. Spanning an impressive 7,139 square feet, the deal underscores the city's vibrant luxury housing sector.
Pimpri Chinchwad: Residents Raise Voices Against Alleged Threats by Developer's Men
Residents of Pimpri Chinchwad are protesting against alleged threats and harassment from developers involved in a major real estate project in the area. The tensions have been escalating, prompting residents to take to the streets in a show of solidarity
Adani Properties Secures $4.1 Billion Mumbai Housing Project
The Maharashtra state government is set to issue a Letter of Intent to Adani Properties, confirming the company as the winner of a high-profile $4.1 billion housing project in Mumbai.
Has the Property Market Reached Its Peak in Major Cities?
Explore the current state of the real estate market in major cities, including Kolkata, and whether recent trends indicate a market peak.