Page 2 - Luxury Property Market

Demand for luxury housing improves in national capital

The demand for luxury housing properties in the national capital has improved in the last six months on low prices and home loan interest rates, but there is a need to reduce stamp duty to give a further boost, according to industry experts. Addressing a webinar on luxury housing market of Delhi-NCR, India Sotheby's International Realty CEO Amit Goyal said the circle rates in Delhi should be rationalised as market prices are 30-40 per lower than the circle rates. Rahul Bhargava, Joint General Manager, HDFC Ltd, Anubhav Jain, CEO, Silverglades Group and Ravinder Singh Ahuja, CA, Founder RS Ahuja & Co also participated in the webinar. In the last 8-9 years, property prices have only come down. So, it's high time that the circle rates are rationalised now. I wish there is a stamp duty cut, just like how it was done in Maharashtra and some other states. Even internationally, countries such as the UK and Malta did the same," he said in a statement. Maharashtra and Karnataka governments

Correction in prices makes Delhi's luxury properties attractive: HDFC

A temporary cut in circle rates by 20 per cent and lower interest rates are also factors

DLF net profit declines 49% to Rs 227.8 cr in Q2, revenue falls 6%

Disruptions following the pandemic impacted its top line too

Weak demand in Mumbai's luxury property market to continue in FY20: Icra

As per the Icra report, the unsold inventory in most of the markets in Mumbai is high at present and it stands around 52-54 per cent of launched areas across all the micro markets

NRIs have advantage in luxury property market in India

Experts say that post-demonetisation, property rates have significantly dropped across various cities in India