Real estate: The Uttar Pradesh Government has introduced new regulations that mandate the registration of builder-buyer agreements upon payment of 10% of the flat’s price. This development has led to concerns among both buyers and developers. Homebuyers are required to pay a percentage of the property’s value as stamp duty to facilitate its registration in government … Read more
Long-term capital gains tax: The Centre announced on Tuesday a significant decision that offers relief to homeowners regarding Long-Term Capital Gains (LTCG) tax on real estate. Homeowners will now given the option to choose between two tax rates: a 20% rate with the indexation benefit, or a 12.5% rate without indexation. This policy shift follows … Read more
When you buy a home, you think of securing a favourable interest rate. This matters not only for existing homeowners but also for new buyers. Recently, most financial institutions have seen a significant shift as home loan interest rates have surpassed the 9 percent mark. With the increase in interest rates, homeowners and buyers have … Read more
The Reserve Bank of India (RBI) has maintained its focus on monetary stability by keeping the repo rate unchanged at 6.5% for the seventh consecutive time. This move aims to keep inflation in check within the targeted range while sustaining market momentum. The central bank’s strategy reflects careful consideration of robust economic indicators, amidst factors … Read more
A new breed of young millennials and older Gen Z are buying homes and it seems they are coming well-prepared. The Swiggy-Uber-Instagram generation is not only anticipating their future needs for a home, they are educating themselves on homebuying, the best interest rates and ideal neighbours. Driven by technology, they use social media to their … Read more
Real estate developers are seeking an increase in the limit of home loan interest deduction for tax rebate to Rs 5 lakh from current ceiling of Rs 2 lakh, a review of definition of affordable housing, lower long-term capital gains tax for real estate and new provisioning for rental housing in the upcoming Union Budget … Read more
Angry homebuyers are waiting on as many as 1.6 million apartments. Suppliers that sold cement, paint, rebar and copper pipes are owed more than $100 billion in payments. Employees who were strong-armed into lending are panicking now that the company cannot repay them on time. China’s Evergrande Group, the embattled property developer whose towering debt … Read more
When the troubled Chinese property giant Evergrande was starved for cash earlier this year, it turned to its own employees with a strong-arm pitch: Those who wanted to keep their bonuses would have to give Evergrande a short-term loan. Some workers tapped their friends and family for money to lend to the company. Others borrowed … Read more