Budget 2024: Understanding the Impact of LTCG Reduction & Abolishment of Indexation on Real Estate
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- Опубликовано: 6 сен 2024
- Budget 2024: FM Nirmala Sitharaman announced a reduction in LTCG Tax on property sales from 20% to 12.5% in the Union Budget 2024. It also revealed the removal of indexation benefits previously available for property sales. How will it impact homebuyers? What does the Budget hold for developers? Watch the video to understand!
#budget2024 #budget #unionbudget2024 #realestate
#LTCG | LTCG Budget | STCG Budget | Budget 2024 | Budget Highlights
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Indexation removal will definitely encourage black money transactions.
They are hiking registration values everywhere...
No indexation has no basis. Modiji 3.0 is BJP's curtain in Delhi.
Ridiculous..Buyer pays higher regn charges.
Modiji govt is squeezing people with its increase of taxes.
Realty is beaten up badly by FM????
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यह एक जीवन बदलने वाला प्रोजेक्ट है
यह एकमात्र क्रिप्टो प्रोजेक्ट है जिसका मुझे वास्तविक उपयोग दिखाई देता है
Middle home owners in rural area will be worst hit, black money guys will enjoy.
It will only increase black money / cash transactions
Still they can't deal below the below the 91% of SDV price
If they do so, SDV price will be taken as Full value of consideration
Very bad move
Tax reduction is temporary and Indexation benefit loss is foregone
Tinkering of LTCG not a welcome move. You are snatching of our profits & hard earned money & you don’t want to share our loss @12.5%. Will take all risk, show all the patience & when you see a middle class guy making profits, you will snatch 12.5%. It’s like Shahrukh khan saying to Madan Chopra in Bazzigar “ teri barbadi ka Waqt aagaya hai Madan Chopra (middle class).
Right
It will increase corruption,flow of black money through cash.Govt has done it knowing fully well the impact of it.
taxing like europe service worse than bngladesh
🤣
Opposition should now take the matter. I think FM has gone mad when she thinks that whatever was the cost of acquisition as in 2000 is same in 2024. And then they want booty from my tax paid hard earned money which I invested in purchase of property. Inflation is the indexation and not the profit. What sort of FM is she that she cannot understand the basic maths. She needed to be shown the door Mr.PM.
he put her there to aggressively justify what he ordered her to do. they dont care a damn as long as they get their hands into more of our savings to loot.
FM kaa kuch nhi chalta, sabka boss ek hi hai....wahi jisko bhagwan banaya hai
Tax on STCG n indexation is enough for middle class to vote this govt out of power
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How about equity stock investment not real estate as it involves mass b-lack money? same as 12.5 % from previous 10% shows the increment and STCG too.. Taxation is loaded heavily on salary people or who are all already a tax payer.. pls involve politicians and coporate capitalist in these high taxation list which leads to more money drawn for welfare of ppl n natiom
People voted for this
They always promote real estate because that's the only place to park black money.
Worst budget , can't fool public like this.
Lot of People are pushed to surcharge due to non indexation. Why no body thought that also
People will ask for more black money when selling to reduce tax
They cannot sell below circle rates which are continuously increasing and in many cases are close to market rates .. most of transactions today happen at Circle rate only and rest cash
Holding property for long time is of no use now... May end up in loss
Seller of real-estate will shift the burden of tax to the buyer.I have a piece of a ancestral land ,now I sale it any buyer who take burden of capital gain tax because land is scarce.
Idiotic to think that burden can be shifted to buyers. Buyers are decreasing & that's why slums are increasing, unauthorized constructions are booming in all cities.
No indexation means no inflation. No indexation means sell in cash keeping more black money. And Modi says, na khaunga na khaane dunga. He should say, Me toh khilaunga (nitish naidu ko) par tumhe (middle class voter) jeene nahi dunga.
I support Nirmala on this point.
Because, there is bad standards in real estate , if Sqft price of apartments is 7500-8000 for new buildings, old buildings are putting 9500Sqft. Which is absurd.
Now this reform will stop this second hand sales and ancestral property sale .
I heard next move is to remove the set-off on buying next property from gains
Impact is not to buy property specially for investment... Builders lobby destroyed...
Plz support us we will support you #propertymines
Such frequent tinkering in taxes isnt good for economy, this is how we will become viswaguru,
LTCG will kill newly formed enthusiasm of middle class (particularly earning women) interests in corporate investing over Bank Savings bank and FD culture. No point in risking your hard earned money in corporate investments, Better to stake cash in the masala dubbas in the kitchen or buying idle gold.. Seems the idea is to discourage national involvement in corporate investments and keep that in the exclusive domain of Gujarathi (with due respects) Share Market Punters and Mauritius links, Polavaram investments, Patna airport. Visag port ... Ha ha Adaniyoa Adani. Nothing personal .
This is exactly how you increase black money in the country....😂😂😂😂
will increase black money..and tax evasion mentality
Government wants to encourage black money? Budget going in same direction
New investors will sell to get the benefit of reduced LTCG as indexation doesn't impact them much, old homes are in trouble.
If this is applicable only from July 2024. What about if prop sold in may 2024 sir
Modi needs to go back to Gujarat and let people breathe n peace. He no longer deserves my vote and also to rule this country.
Feeling Exploited.
Abolishment of Indexaction on Real Estate is a reggressive step.
Govt wants everyone become BPL category and enjoy subsidies ?
Like demonetization, this is a signal for rich ekite to huy real estate and markets will crash. Those who hiy real eatate first will see hige boom, once market crashes and then next year budget, FM will again give indexation benefit and may also give that to this year too.
WHAT IS THE EFFECTIVE DATE
Not a healthy move at this stage of development of real-estate.
This is cruelty on house property sellers.
Government & Finance Ministry should listen to citizens views....you should not be Inflexible...all our calculations show removal of indexation benefits is Unfavorable to us....dont make it effective immly, if you want to change give us window ( you keep 2 income tax regimes, then why not give time for this case )....we are very much concerned the way this is getting pushed
Its not LTCG reduction . Its a defacto increase .
I think this government has started making its ⚰️ coffin
Real estate and gold is good for investors because lot of loopholes available and government can be easily cheated. MF investors shift to real estate and gold as soon as possible 😂
Indexation is removed from real estate. Further, it's highly illiquid asset which gets obsolete every 1-2 decades. Also, it requires high maintenance. Gold is highly volatile, appreciates only during crises and in long term only beats inflation most of the time. It's also moderately liquid and high maintenance.
good
Govt have misunderstood the power of this 2.6% tax paying population. This population has capacity throw this govt out of power. Till now BJP govt had lot of backup from this group of people when it came to social media hype creation but now this population only put this govt on a painful path.
Haunting BGM for scary budget...?
Basically, govt asking us to speculation in real estate
IT SEEMS CORRUPTION BY REAL ESTATE BARONS HAS LED TO INCREASE IN CAPITAL GAINS TAX ON EQUITY! BOTH ARE 2 VERY DIFFERENT ASSET CLASS
Worst budget ever🎉
These higher and higher taxes on every budget by Modi govt is your punishment of choosing a useless PM.Only Modi ouster can reduce your taxes ,so vote against bjp ,in all eoections
Modi Govt is horrible, I agree. But Pappu or Mamata or any Yadav comes to power, imagine the plight with Khata Khat transfers & more subsidies to rich farmers. 🙊
Cash
You did not mention that “ No change in Index benefits for Properties acquired before 2001
Add tax on breathing also
Remove all benefits and add new taxes 😂
Just insult of tax payer that's it.
Removal of indexation is very painful. No vote for bjp again in Maharashtra election.
The worst FM of the century.
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Plz support us we will support you #propertymines
This is to avoid black money and mostly effect HNIs, politicians, benamis etc....?
This will only promote black money
Tax Terrorism by BJP 😢
Govt will understand only when they are booted out of power. BJP is the only party which hurts its own voters middle class investors just because they think these people have no choice but to vote for them . Come maharashtra , haryana elections and they would know
This post is no longer valid
Real Estate totally destroyed
It is a really good step by FM to taper the speculation
In fact Govt should impose LTCG tax irrespective of whether proceeds are reinvested or not
I doubt it, this is just going to increase the black economy massively. Jhumla budget by jhumla FM.
@@gtgd_797 Yes. Black money demand will increase in real estate transactions but we will see increase in ready reckoner price and increase in stamp duty which will curtail black money to some extent
FM , certainly doesn't know, a common middle class mans household maths, she has just squeezed his pockets, most unlearned fm.sge may become cause if bjp fall
Common man own none to one property, so it is a problem for elite groups
I am BJP supporter, i will be vote against BJP in all coming elections. Modi is redicolous and we can bear his foolishness anymore
Ab aayi akal thikane khudki vaat lagne ke baad