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Mumbai, India’s commercial capital has emerged as the 16th most expensive prime residential property market in the world. In terms of price rise, Indian luxury home markets remained low on the growth chart with Delhi gaining 1.4%, Bengaluru 1.1% and Mumbai 0.3%, showed Knight Frank’s Prime International Residential Index.


The government has proposed to reduce the tax rate on under-construction properties. This will have a mixed impact on the housing sector with high-price inventory benefitting the consumer, Kotak report said. On the other hand, the absence of input tax credit would impact overall costing in cities such as Bangalore with lower realisations.


Difference between a cake shop with two tables and four chairs: Well, according to the revenue department the answer would be tax arbitrage of up to 13%. So, don’t be surprised to see your corner mithaiwala, halwai or cake outlet owner suddenly rebranding his shop to add ‘restaurant’ and put a couple of tables and chairs in the premises.

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