The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
Fearing share price manipulation with the help of certain ‘independent’ research reports onIndian companies, market watchdog Sebi may soon bring all kinds of research analysts under its regulatory ambit.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.
Will 2011 carry forward gloom in the realty market? That is the question on everybody’s lips today and the sector seems to be only praying that the worst has been left behind in 2011.
Though a depreciating rupee has its fall out on all other economic activity, it is rather helping the Indian property market.
If the current economic conditions have proved nothing else, they certainly prove that investment in Indian residential real estate is impossible to write off, ignore or find an alternative to.
Bahrain-based Star International Real Estate has signed an agreement to be the exclusive agent for two property developments in Goa.
The Mumbai realty market is awaiting a policy change by the Maharashtra Government that could appreciate the prices in South Mumbai, while soften up the market in the suburbs. Real estate prices in South Mumbai range between Rs 20,000 and Rs 1 lakh per sq ft, whereas the rates in the suburbs range between Rs 6,000 and Rs 40,000 per sq ft.
To say that the Union Budget 2024-25 has left the vast majority of home buyers in India pretty dissatisfied would be stating the obvious. Even though the built environment of the Indian real estate might find its own silver lining with the given budget, the vast majority of Indians feel this budget is going to hit their finances hard. What comes as a shocker to the perception at large is the fact that their primary dissatisfaction is not limited to the removal of indexation benefits, as perceived by the analysts.
As the Finance Minister Ms Nirmala Sitharaman announced to lower the LTCG (Long Term Capital Gains) from 20% to 12.5%, the stock market took a hit. The analysts across the financial spectrum immediately swung into analysis that the LTCG hike would adversely affect the stock market in the short term but big pocket investors won’t be affected as much as presumed. A section of financial wizards who understand the nuances of personal finance across the asset classes had even bigger a worry – Real Estate. Prima facie what looked like the LTCG being lowered from 20% to now at 12.5%, has in fact hurt the property market the most. Reason: the indexation benefit under Section 48 that is presently available for property, gold, and other unlisted assets have been now proposed to be removed.