India's luxury real estate market is booming, driven by rising affluent buyers, NRI investments, and demand for large homes, especially in cities like Mumbai and Goa.
A survey reveals that the Indian real estate sector is recovering post-COVID-19, indicating strong consumer sentiment and changing preferences in property investment.
India's real estate market sees surge in land transactions, driven by luxury living demand, with 58% increase in land deals since 2022, and growing traction in Tier 2 and 3 cities.
Karnataka Government plans to cut guidance values by December, potentially boosting the property market. A lower guidance value is expected to increase property registrations and government revenue.
MahaRERA grants a six-month extension to real estate projects due to the pandemic's second wave, invoking the force majeure clause for projects expiring after Apr 15, 2021.
Tamil Nadu's Minister for Commercial Taxation reviews strategies to boost property registration revenue post-COVID-19, with measures to streamline processes and enhance efficiency.
Goa government hikes property registration fee from 0.5% to 1%, pushing buyers to pay around Rs 74,000 more for registrations. Credai opposes, stating it will affect market demand.
Gujarat govt. announced 100% property tax exemption for hotels, restaurants, resorts, and water parks for FY2021-22, alongside revoking flat electricity bills, offering substantial relief to the hospitality sector.
Maharashtra reverts to 5% stamp duty on property registrations from April 1, with 1% concession for properties in women's names.
NKDA has initiated a special camp to assist property taxpayers in New Town, Kolkata, addressing challenges posed by the pandemic, especially for the elderly.
Pune real estate sales rebound to pre-COVID levels with 3.4% price increase, driven by high-end segment demand. Inventory is at a six-year low.