The Budget 2024 introduces significant tax reforms that will impact real estate transactions and growth in the current financial year. Here's what it means for buyers and sellers.
Real EstateBudget 2024Tax ReformsAffordable HousingHome LoansReal Estate NewsJul 27, 2024
The Budget 2024 introduces significant tax reforms that will impact real estate transactions and growth in the current financial year.
The simplified tax system and increased tax brackets for mid-range taxpayers will lead to more disposable income, which could lead to more investment in real estate.
PMAY 2.0 is a priority in Budget 2024, with Rs 10 lakh crore allocated to cater to the housing requirements of 1 crore urban poor and middle-class families in the next five years.
The removal of the indexation benefit could result in a greater effective tax burden on long-term capital gains (LTCG) for property owners, particularly those with properties held for more than five years.
Rollover benefits still continue as capital gains up to Rs 10 crore, if reinvested, will not attract any capital gains tax.
The upcoming GST Council meeting is expected to address several key issues, including rate rationalisation, bringing petroleum products and real estate under GST, and reviewing GST rates on online gaming.
PCMC's smart city plan aims to transform Pimpri Chinchwad into a sustainable and livable city, with a focus on efficient governance, transportation, and civic amenities.
Kolkata real estate market sees 13% year-on-year decline in property registrations in July 2024
Girish Goenka, CFO at Piramal Realty, discusses the growing trend towards larger homes and the company's focus on luxury gated communities with essential amenities.
Ceratec Group and Chaitanya Developers unveil the iconic Tower 108, a premium commercial project in Balewadi, Pune, set to revolutionize the city's business landscape.
Tesla and SpaceX CEO Elon Musk has reportedly added a 14,400-square-foot mansion in Texas to his real estate portfolio, designed for his large family, including 11 children and their mothers.