When Jabalpur resident Mahavir Ojha received Rs 80 lakhs (Rs 8 million) from selling an ancestral property, he decided to part-pay his housing loan of Rs 50 lakhs (Rs 5 million).
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
Prospective bidders had earlier termed the reserve price as too high, while multiple legal woes of Mallya-led UB Group are also being cited by many as reasons for lack of interest in buying this property
When you sell your property, you would be liable to pay capital gains tax.
Such investments come with their own share of risks and buyers may need to hold on for at least 5 to 10 years.
Budget might turn out to be neutral for the sector.
Real estate sector cheers reforms in the Budget.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
Electricity has also been kept out of the GST ambit.
Do you have financial planning queries? Ask rediffGURU Kirtan A Shah.
Keki Mistry, vice chairman and CEO, HDFC tells Joydeep Ghosh and Chirag Madia that unlike some other players it never went for excesses and never took unreasonable risks.
With prices unlikely to run up sharply, genuine buyers can start readying deals before the festival season starts.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
In a recent note, the global brokerage firm said India now commands a weight of 19 per cent in the above-mentioned portfolio as compared to 18.2 per cent in September 2023. India, it said, is a large liquid market and remains a counter-weight to North Asia if a slowdown in the West occurs and China's recovery disappoints.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Japan's Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday. The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The taxmen provisionally sent orders to attach their properties in Mumbai, New Delhi, Pune, Goa and also over two dozen land parcels across the state with a combined market value of around Rs 1,400 crore
'The fact that you did not receive the rent through a bank will not take away the taxability of the rent in your hands.'
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
When you are in your 20s and early 30s, you have the biggest asset to your credit -- time. By starting to invest during the early stages of your career, you get a lot of time to research, learn, and achieve, advises Ayan Nagpal.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Banks enjoyed an expansion in Net Interest Margins (or NIMs) as well as in credit demand through the 2022-23 financial year (FY23). The credit expansion was because economic growth continued to recover from the Covid-19 years, and indeed, second half GDP growth surprised on the upside. The NIM expansion was because banks raised lending rates immediately (in many cases automatically due to floaters) as the Reserve Bank of India (RBI) hiked policy rates, and only started raising deposit rates late into the fiscal.
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
These plans aren't likely to put substantial cash in your hands.
You pay the mediclaim insurance premium of your brother's policy from your salary. Will you be eligible for tax deduction? Will your bonus and ex gratia be tax exempt?
For almost all the properties owned by Vijay Mallya, the reserve price has been marked down after the earlier attempts failed to attract bidders.
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
Today, people are happily raising 80-85 per cent through home loans, and if they still don't have enough, the rest is raised through a personal loan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
One way to bring down the cost is selling off old furniture.
Sandeep Shanbhag, a chartered accountant and director of Wonderland Consultants, a tax and financial advisory firm, discussed the impact of Budget proposals in a chat with Rediff.com's readers.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
With Pirojsha Godrej at the helm, Godrej Properties posted a fourfold jump in profit in the third quarter of the current financial year, probably the only real estate company that did so well in that quarter.
