Luxury and mid-range housing demand surges in Pune and MMR, driven by factors like tax incentives, rising incomes, and NRI investments. Property values have increased significantly, especially in Mumbai, impacting affordability. Despite rising costs, sales remain strong, with buyers prioritizing larger homes and better amenities.
India's real estate market is booming. TDS applies to property transactions exceeding ₹50L. Buyers must deduct 1% TDS, deposit it with the Income Tax Dept.
NAREDCO urges the government to grant infrastructure status to the entire housing sector to gain tax benefits and stimulate housing demand.
Savvy property investors utilized equity markets to reduce tax on gains, offsetting derivatives losses against short-term capital gains from property transactions.
The launch of Real Estate Mutual Funds (REMFs) is stalled due to tax regulations, with SEBI and the finance ministry working on clarifying their status.
The BJP is urging the establishment of a Real Estate Regulatory Authority to protect small investors, highlighting concerns over housing projects and financial security.