India's Real Estate Transaction Volume Reaches 30 Billion Dollars This Year

On the 29th (local time), the specialized media Cointelegraph reported using data from the Indian Goods and Services Tax Council that "the transaction volume in the Indian real estate market from January to October 2024 reached 30 billion dollars." This is a 350% increase compared to the same period last year, marking the highest level since the 2021 boom. The media stated, "The Indian real estate market experienced a period of stagnation after recording a transaction volume of approximately 54 billion dollars in 2021," adding, "In 2022, the Indian government implemented the 'middle tax' policy, applying an additional 0.1% tax on capital gains, causing a sharp decline in local real estate transaction volumes." It further explained, "However, recently, the transaction volume in the Indian real estate market is showing signs of recovery, and the recorded transaction volume until October exceeded the combined amount of the past two years."