Pune, christened the ‘Queen of the Deccan’, is standing at the threshold of a sea change in its realty environment. As we step into 2025, the growing city’s housing market, more so its luxury, has begun experiencing a paradigm shift that promises to transform urban living experiences in this cultural and economic hub of Maharashtra. Pune’s real estate market is likely to grow 15% year on year in 2025, which is higher than the national average of 10%.

The real estate sector has cautioned the government that the proposal to remove indexation benefits for long-term capital gains in real estate will hurt the growth of the sector. “The removal of the indexation benefit for long-term capital gains in real estate is likely to significantly impact property owners’ holdings assets for more than ten years. Owners of heritage homes may face a higher tax burden upon sale, as the absence of indexation prevents adjusting the property’s cost basis for inflation.

The National Real Estate Development Council (NAREDCO) on July 20, 2024, announced the launch of its Uttarakhand chapter. NAREDCO is the national body representing the real estate sector. The announcement was made by the delegation of NAREDCO Governing Council Members from across India during the event ‘Emergence of NAREDCO Uttarakhand’ held in Mussoorie, Uttarakhand. NAREDCO also took the opportunity to invite real estate developers, builders, industry professionals and stakeholders to become members of the Uttarakhand chapter.

Addressing the housing needs of the one crore poor and middle-class families through affordable housing, finance minister Nirmala Sitharaman announced an investment of Rs 10 lakh crore for housing units under the Pradhan Mantri Awas Yojana Urban (PMAY-Urban).

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Finance Minister Nirmala Sitharaman today announced a Rs 2.2 lakh crore central assistance to boost development of affordable homes in urban areas - a segment that has been struggling for years. The FM, while tabling the budget for 2024-25 at the Lok Sabha said that under the second instalment of Pradhan Mantri Awas Yojana-Urban (PMAY-U) 1 crore new homes will be built to support the needs of poor and mid-income households.

The first book by WADE ASIA Founders & Sisters Verticaa Dvivedi and Madhu Chowdhury was pre-released at a glittering ceremony on 14th June 2024 at Taj Mahal Hotel, New Delhi, during the special ceremony of NAREDCO MAHI Women in Real Estate & Construction.

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As the Union Budget 2024 draws near, the real estate sector pins hope on getting the much-awaited industry status along with major policy reforms, push for affordable housing sector and tax incentives to strengthen the homebuyers’ sentiments and attract investment to the sector. Experts anticipate several reforms, including a simplified single-window clearance system, tax rebate on housing loan interest and revision in the GST input tax credit rules will further boost the sector

केंद्र में नई सरकार का गठन हो गया है और नरेंद्र मोदी 3.0 सरकार में निर्मला सीतारमण को फिर से वित्त मंत्रालय की जिम्मेदारी सौंपी गई है. नई सरकार के साथ ही वित्त मंत्रालय ने चालू वित्त वर्ष के लिए बजट बनाने की तैयारी शुरू कर दी है. इसके लिए वित्त मंत्रालय के अधिकारी और वित्त मंत्री विभिन्न उद्योग क्षेत्रों के प्रतिनिधियों से मिल रहे हैं. इसी कड़ी में रियल एस्टेट क्षेत्र भी अपनी मांगों को वित्त मंत्रालय के सामने रख रहा है, जिसमें जीएसटी छूट की प्रमुखता है. रियल एस्टेट जगत का मानना है कि जीएसटी छूट का पूरा लाभ अभी नहीं मिल पा रहा है, जिसे सुधारने की जरूरत है.

Lowering the long-term capital gains (LTCG) tax is better than removing indexation benefits. Even after eliminating indexation, a 12.5% tax rate provides a much better benefit, said a real estate expert. "Suppose you want to purchase property now and sell it after exactly 25 months. What is the indexation available for you? Very minimal. But if they reduce the tax rate by 12.5%, and you calculate the indexation  for two years, it is nothing. So the reduction of tax by 12.5% is much bigger. You have to see both of these scenarios.

The Union Budget 2024 stands as a landmark in India’s fiscal history, epitomising an ambitious yet calculated blueprint designed to catapult the nation into a new era of economic prosperity. Industries have responded with widespread approval, lauding the government’s foresight and meticulous sectoral planning.