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Tag: festive season

  • Planning to purchase a home? Is festive season an excellent time to put money into actual property

    Are you planning to maneuver to your individual home or purchase a second one? Many homebuyers think about the festive season an auspicious time to purchase a home. Real property as an funding asset class has innumerable advantages if the fitting location, proper developer and the design aspect are chosen. The festive season of Dussehra and Diwali is taken into account auspicious for making investments. Livemint spoke to actual property market specialists concerning the nice time to purchase a second home.

    Suren Goyal, Partner, RPS Group stated shopping for properties through the festive season is generally pushed by three causes: a) It is seen as an auspicious time to put money into one thing invaluable; b) It can be a time when new constructing initiatives are launched; c) Real property builders are identified to roll out attention-grabbing provides and schemes to draw patrons to their initiatives. 

    But the most important issue driving folks to purchase properties at this time is their expertise through the Covid-19 pandemic and lockdown. It has made folks rethink their priorities, and thus proudly owning a house has gained significance because it spells consolation and safety, added Suren Goyal.

    Buying second house is smart proper now as builders give reductions and different thrilling provides through the festive season.

    Ankit Kansal (MD & Founder, Axon Developers) stated in Maharashtra, already the second house markets in Panvel, Alibaug, Lonavala, and many others. begin witnessing momentous shift in demand with the Ganpati competition. 

    Meanwhile, different outstanding markets reminiscent of Goa, Sindhudurg & Konkan, Nainital, Dehradun, and many others. are additionally having fun with strong demand.  In South markets like Ooty, Nandihills, Bannerghata, Vizag, and many others are additionally witnessing pickup in demand, he stated.

    Overall the marketplace for gated villas, second properties, farmhouses and many others. are rising at a scorching tempo.

    “Developers and/or Financial Institutions work in tandem to provide you with irresistible offers and provides that assist lots of fence-sitters to shut the deal in addition to capitalize on the excessive demand to hurry up gross sales. For the client, it turns into crucial that the target of the funding is evident, as as to whether the funding is for recurring leases, appreciation, trip keep or retirement house,” stated Ashwinder R Singh, CEO Residential, Bhartiya Urban

    Siraj Saiyed, Director, Arete Group stated that actual property sector has made an incredible comeback after the pandemic. This development appears to proceed gaining momentum through the upcoming festive season when patrons are likely to put money into properties as a result of it’s thought-about to be an auspicious interval for house shopping for.

    “Another main issue driving folks to purchase properties at this time is their expertise through the lockdown once we have been restricted to staying inside 4 partitions. It made us rethink our priorities, and thus proudly owning a house has gained significance because it spells consolation and safety,” said Siraj Saiyed.

    “Festive season is likewise when luxurious properties come right down to cheap costs,” stated Anurag Goel, Director, Goel Ganga Developments.

     

     

     

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    First article

  • Festive season to see document smartphone gross sales of $7.6bn in 2021: Counterpoint

    Smartphone gross sales within the nation are anticipated to the touch a document $7.6 billion (about ₹56,858 crore) this festive season, in keeping with analysis agency Counterpoint.

    The smartphone retail common promoting worth (ASP) through the festive season can be anticipated to develop 14 per cent to succeed in its highest ever at $230 (about ₹17,200). High shopper demand within the mid and premium segments is anticipated to drive the gross sales.

    Counterpoint senior analyst Prachir Singh mentioned the festive season has been driving smartphone gross sales in India on account of excessive shopper demand throughout Dusshera and Diwali.

    “This trend has been accelerated this year by the high pent-up demand backed by aggressive promotions in the mid and premium segments. We estimate that almost $7.6 billion worth of smartphones will be sold during the ongoing festive season,” Singh mentioned including that this highest-ever quantity is coming at a time when the worldwide smartphone business is dealing with element shortages.

    As a consequence, OEMs have been pressured to extend costs, which could have the next impression on the mass market and finances segments, Singh famous.

    Counterpoint Research Director Tarun Pathak mentioned though the expansion in market worth through the 2021 festive season is anticipated to be 1 per cent year-on-year, the retail ASP will develop at 14 per cent year-on-year.

    “The overall consumer sentiment has been positive going into the festive season. Many consumers have decided to spend from their accumulated savings for something that is more personal. This trend will drive a faster smartphone upgrade during the festive season,” he added.

    Apart from this, the 2021 festive season is seeing larger trade-ins and aggressive EMIs that enhance system affordability and assist customers bypass a number of worth limitations, Pathak mentioned.

    “This has helped drive the sales of mid-to-high tier (more than $200) smartphone models and, subsequently, the overall ASP. Many OEMs sensed this trend and brought out aggressive offers on premium devices,” he added.

    The comparatively larger gross sales of premium section smartphones additionally helped offset the losses within the mass market on account of worth hike, he identified.

    This story has been revealed from a wire company feed with out modifications to the textual content. Subscribe to Mint Newsletters * Enter a legitimate e mail * Thank you for subscribing to our publication.

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  • Know about taxes earlier than exchanging presents this festive season

    Exchanging presents is a key a part of festivals in India. From money presents to gold and silver cash, all represent gifting choices throughout Dussehra, Dhanteras and Diwali.

    However, many usually are not conscious that presents can entice tax. Under Section 56(2) of the Income Tax Act, presents obtained throughout the 12 months are taxed as per the slab price beneath ‘income from other sources’.

    Tax guidelines for gifting differs as per the character of the reward and from whom it’s obtained.

    Which presents are taxed?

    You are required to pay taxes on presents if the combination worth of all presents obtained throughout a 12 months exceeds ₹50,000. If the combination quantity is ₹50,000 or much less, it’s tax-free, nevertheless, if the whole worth exceeds the brink even by a rupee, all the quantity is taxed. For occasion, when you have obtained presents value ₹51,000, all the sum will probably be taxed as per the relevant price. In the case of money, any sum obtained with out consideration is handled as a present. Without consideration implies that the merchandise is transferred purely as a present or donation, with no receipt or promise of cost, service or good of worth in alternate of the mentioned merchandise. For immovable property, when it’s obtained with out consideration, its stamp responsibility is chargeable to tax, whereas when the property is transferred with insufficient consideration, stamp responsibility worth exceeding consideration is taxed.

    In the case of jewelry and shares, the honest market worth of such objects is chargeable to tax.

    Exemption in tax

    You can get an exemption on tax on presents relying on whom are you receiving it from. According to the I-T Act, presents obtained from kinfolk are exempt from tax.

    Donee’s partner, brother or sister, brother or sister of the partner, brother or sister of both of the dad and mom or parents-in-law, any lineal ascendant or descendent, any lineal ascendant or descendent of the partner, partner of the individuals referred above all qualify as kinfolk as per the I-T Act.

    Gifts obtained from any of those individuals, regardless of the character and worth of the reward and the event when the presents are transferred, are exempt from tax.

    Since associates usually are not thought of kinfolk, presents from them are taxed. However, presents given on the event of wedding ceremony or transferred beneath a Will or inheritance are exempt from tax when obtained from any individual and never simply kinfolk.

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  • Federal Bank companions with OneCard to launch mobile-based bank card

    NEW DELHI :

    Federal Bank on Wednesday introduced that it has partnered with fintech firm OneCard to launch a mobile-based bank card.

    The launch comes forward of the festive season as Federal Bank goals to money in on client credit score demand, which is predicted to peak across the festive season on the again of financial revival.

    The bank card shall be issued by means of the OneCard app in underneath three minutes, as per the corporate, and could be activated and used immediately in digital format till the bodily card will get delivered.

    Users can management their playing cards by means of the app—from monitoring spends and rewards to setting transaction restrict on the cardboard and extra.

    Federal Bank’s goal person base for this providing is younger working professionals aged between 23 and 35 years, as per the financial institution.

    “This digitally native cohort is open to experimenting with new apps and have appreciable disposable revenue. According to the most recent report by Deloitte, millennials and Gen Z alone comprise greater than 35% and 27%, respectively of the Indian inhabitants. Federal Bank with its ‘Digital on the Fore and Human on the Core” mantra aims to become the most admired bank of every stakeholder and with the launch of this mobile-first credit card, the bank may be on its way to make inroads into this segment,” the financial institution mentioned in its assertion.

    Demand for bank cards has been seeing a gentle rise through the years. Credit card spends have grown at a compound annual progress charge (CAGR) of 25% from monetary yr 2016 to monetary yr 2021 and are anticipated to succeed in ₹15 trillion in complete bank card spends for monetary yr 2024, as per the financial institution’s knowledge.

    “Credit card is a extremely interactive monetary product and at OneCard we’re aiming to revisit its worth proposition by providing a extremely tech-enabled, custom-made expertise,” mentioned Anurag Sinha, co-founder and chief government officer, OneCard.

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  • Kotak financial institution drops house mortgage rates of interest to six.50% for subsequent sixty days

    NEW DELHI :

    Kotak Mahindra Bank Ltd (KMBL) on Thursday kick-started the festive season by saying that it has decreased its house mortgage rates of interest but once more by an additional 15 foundation factors (bps) from 6.65% to six.50% each year (p.a.). This particular fee is for a restricted interval starting 10 September and ending 8 November 2021.

    According to a press assertion issued on 9 September by Kotak Bank, “Rates for both fresh home loans and balance transfers now start at 6.50% p.a., offering the best value to home buyers. This special rate is available across all loans amounts and is linked to a borrower’s credit profile.”

    Ambuj Chandna, president-consumer property, Kotak Mahindra Bank, stated, “Since people are looking for comfortable residences where the entire family can work, entertain and spend quality time together, Kotak’s incredible 6.50% home loan interest rate now makes owning one’s dream home even more affordable.”

    Further, digital has fully remodeled the house mortgage sanction course of. With Kotak Digi Home Loans, house mortgage candidates can now apply for and obtain an prompt in-principle sanction letter together with their mortgage quantity eligibility, the tenure of the mortgage, rate of interest and EMI in an end-to-end absolutely digital, paperless and contactless course of, stated Chandna.

    Features of Kotak house loans are: Starting at 6.50% p.a. on each recent house loans and steadiness switch loans; enticing charges for each the salaried and self-employed buyer segments; and prompt in-principle sanction with Kotak digi house loans.

    How to use: To apply for a Kotak house mortgage on-line, one wants to go to Kotak house loans web site. Consumers may also apply by way of Kotak’s financial institution branches throughout India. According to the assertion, present Kotak prospects may also apply by way of the Kotak cellular banking app or internet banking. 

    Kotak house loans are linked to an exterior benchmark, i.e. the Reserve Bank of India’s coverage repo fee. While the financial institution is slicing charges for the subsequent sixty days, different phrases and circumstances apply to house mortgage charges. Borrowers ought to learn the mortgage paperwork fastidiously earlier than availing of such loans.

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  • Second Covid wave impacting two-wheeler gross sales more durable: Report

    The second Covid wave has impacted the two-wheeler markets more durable than the sooner one with gross sales declining by 30-50 per cent up to now in April regardless of a mini festive season in the course of the month, in line with a report.
    Smaller cities are seeing the influence of the second wave (not like the primary wave), amid the instances reported within the second week of April surpassing the height of September final yr, brokerage agency Motilal Oswal Financial Services mentioned in its report.
    Gudi Padwa, which is a serious competition of Maharashtra, fell on April 13 whereas the 9-day fasting interval Navrarati commenced from the identical day final week, amongst different festivals.

    Festive durations like Navratri and Gudi-Padwa account for a justifiable share of annual automobile gross sales throughout the nation, as per the report.
    Noting that the month-to-date (MTD) noticed important decline in demand in two-wheeler retail gross sales, the report mentioned that if demand fails to recuperate amid the mini festive season and marriage ceremony season, demand restoration could also be deferred as much as October, which is fundamental festive season.
    Dealers commenced April with excessive stock owing to components such because the year-end push and excessive gross sales expectations from the festive and marriage ceremony season (northern and central India) and in addition rural demand from the rabi harvest, it mentioned.
    However, in line with the report, gross sales have been a lot decrease from the festive season and the rabi harvest with anticipated two-wheeler demand restoration throughout this era is but to play out and is way decrease than regular.
    According to Motilal Oswal, stock at a number of the main two-wheeler producers was manageable firstly of the month, with a supporting variety of inquiries and bookings. However, sellers noticed a major enhance in cancellations with the rise in Covid instances.
    Maharashtra sellers on Gudi Padwa posted simply 50 per cent of anticipated gross sales. UP retails have been additionally impacted by the continuing Panchayat elections, it said.
    Stating that not like the primary wave, the second wave would see restricted profit from pent-up demand, the report mentioned, as per sellers, after the primary lockdown, gross sales have been pushed by pent-up demand on account of the marriage season together with rabi harvest in addition to non-availability of public transport.
    Demand was additional supported by money available in the market in addition to a really low variety of instances. However, folks have lesser financial savings amid the second wave as a consequence of a sluggish financial exercise within the present fiscal coupled with minimal money influx from migrant kinfolk and excessive medical payments.
    Therefore, on the present price of enhance in Covid instances, restoration is predicted to be extra back-ended, it mentioned.

    On the wholesales facet, whereas FY21 wholesales have been down 12 per cent, retail registrations have been down 32 per cent. This implies 23 per cent of wholesalers have been used to refill on stock put up the BS6 transition, which isn’t more likely to be the case this time round, as per the report.
    It additionally mentioned that since April 2020, OEMs are steadily taking worth hikes put up the BS6 launch to cowl the rise in commodity costs in addition to recuperate contribution margins on price inflation. The two-wheeler OEMs took a worth hike of 5-8 per cent as much as April this yr (since April 2020). This is including to the hyper price inflation of round 25 per cent seen in 2Ws over April’2018- April 2020, which has additionally served as a deterrent, in line with the report.

  • Celebrate luxury and comfort, bring a masterpiece to your home this festive season

    The festive season definitely lightens everyone’s mood and brings a wave of joy all around. Most importantly, the festive season in India is considered an auspicious time for new beginnings as well as new purchases. Throughout this festive season, Mercedes-Benz inspires us to celebrate your life with our ideal products and innovative solutions.

    To make the occasion even more thrilling, Mercedes-Benz, India’s largest luxury car manufacturer, is introducing new Celebratory Benefits that give you the most attractive offers and an exciting opportunity to own the most luxurious E-Class Mercedes. Is providing.

    The iconic Mercedes Me Connect app makes your car intelligent as it offers real-time ‘over the air’ analytics, traffic updates and more without any manual intervention. You can also use the Mi Connect app to open and close sunroofs and car windows, as well as allow the user to start or stop while away from the car. For better and more safety, you can track the location of the car with the help of the app, even if you are not in the vicinity of the car, with the features of geo-fencing feature, you can monitor the speed of the car. You can also set the parameters of the car moment. This app sends you instant notifications if the car exits the parameters you set.

    The all-new E-Class is a perfect blend of luxury and status. It not only captivates with its new design, but also appeals to superior efficiency, intelligence and emotion. The E-Class has come up with a new engine in its 2020 avatar to follow the new BS VI emission norms. It has two new variants – Expression and Exclusive – and is India’s best-selling luxury executive sedan.