QUOTE on GST Collection October 2024 by PAN India Consulting Firm
By-Vivek Jalan – Partner Tax Connect Advisory Services LLP – a multidisciplinary PAN India Consulting Firm
The Year to date Net GST collection growth at 9% is much lower than the budgeted GST growth of around 11%, which was aligned more or less to the nominal GDP growth too. Further, standing at 7.9%, the month to date GST revenue growth is much lesser. Furthermore this is a festive month collection. This reflects that the economic activity in India needs a push so that the fiscal deficit target can be achieved.
As far as GST is concerned, the next GST Council meeting in November/December 2024 should see a lot of action in terms of real estate and rate rationalization, on which Group of Ministers are now working.
Deshpande Realty Shines in Pune Redevelopment, Wins Excellence Award
Founded in 2014, Deshpande Realty has rapidly become a trusted name in Pune’s real estate industry, distinguished by its dedication to quality and innovative redevelopment. Over the past decade, the company has set new standards in the industry, creating iconic landmarks and transforming old properties into high-value, modern developments. Guided by Managing Director Prasad Deshpande, along with Directors Abhishek Deshpande, Shilpa Bharade, and Karan Tambe, Deshpande Realty continues to make a substantial impact on Pune’s real estate landscape.
Rooted in Pune, Deshpande Realty understands the city’s unique character and the aspirations of its residents. This local insight has helped the company earn the trust of societies and clients alike, who appreciate its unwavering commitment to quality and timely delivery. By offering projects across Pune’s popular neighborhoods—including Senapati Bapat Road, Baner, Aundh, Model Colony, Kothrud, and Satara Road—Deshpande Realty ensures that clients can enjoy well-crafted, contemporary spaces within close reach of their communities.
Recognized for Excellence in Redevelopment
In a proud moment for Prasad Deshpande Group of Ventures, the company has been honored with the Times Realty Icons Award for “Excellence in Redevelopment, Marketing & Quality Construction.” This prestigious award celebrates the company’s dedication to innovative, quality-driven redevelopment in Pune.
Perspective by Sandeep Ahuja CEO of Atmosphere Living on home sales registrations for October 2024
by Sandeep Ahuja CEO of Atmosphere Living on home sales registrations for October 2024.
“November 2024 has been one of the best in the last 5 years with 133569 registrations in Mumbai. A slew of new project launches, varied range of choices, higher disposable income, improved sentiment due to festive season are some of the factors impacting demand and higher sales.
The notable point is that luxury homes are the most sold with the rise in demand from HNI and NRIs as Indian real estate, especially Mumbai, has become a hotspot for investment. The interesting development we are noting is that most buyers are first-time and end-users, with some new investors.
The sale of luxurious properties in Mumbai have been fluctuating over time as noticed in reports by Maharashtra IGR & CRE Matrix. 377 units sold out in the year 2019 had seen an upward leap of 429 units in 2020. However, this touched its maximum value with 863 units sold in the year 2021 followed by a very minute down in the figure that hit 781 in 2022. On the contrary, sales touched a bounce to 951 units in 2023. By June 2024, 622 luxury units have already been sold. These numbers reflect the vibrancy of luxury real estate sales in Mumbai. We expect the potential homebuyers to cast a wider net across India and many more cities and invest in premium developments. The steady economic growth projection will ensure real estate remains the premium asset class for investors.”