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Mumbai sees a rush to close luxury housing deals
Real Estate

Mumbai sees a rush to close luxury housing deals

In February, 9,684 properties in Mumbai were registered, bringing in approximately 11,110 million for the state coffers. Even though 10,379 properties were registered in February 2022, the income was only about 6,150 million.

Notwithstanding a decline in the number of registered properties, the state exchequer still made an eighty percent bigger amount of money.

Anuj Puri, the chairman of real estate consultants ANAROCK Group, claimed that this demonstrated a substantial change in the sale of expensive homes.

According to the new law, if someone sells a house or other assets, such as stocks, and makes more than $100 million in profits, the most benefit that may be reaped when investing in another property is only up to $100 million. From April 2023 forward, capital gains above $100 million will be subject to taxation.

In February, 9,684 properties in Mumbai were registered, bringing in approximately 11,110 million for the state coffers. Even though 10,379 properties were registered in February 2022, the income was only about 6,150 million. Notwithstanding a decline in the number of registered properties, the state exchequer still made an eighty percent bigger amount of money. Anuj Puri, the chairman of real estate consultants ANAROCK Group, claimed that this demonstrated a substantial change in the sale of expensive homes. According to the new law, if someone sells a house or other assets, such as stocks, and makes more than $100 million in profits, the most benefit that may be reaped when investing in another property is only up to $100 million. From April 2023 forward, capital gains above $100 million will be subject to taxation.

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HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

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