So what’s behind this massive rush for MHADA homes?

Affordable Homes in Strategic Locations — A Rare Opportunity

This year’s Konkan Board lottery offers a total of 5,285 flats across all income groups — from Economically Weaker Section (EWS) to Higher Income Group (HIG) — along with 77 residential plots, which are rare and highly coveted.

The homes are spread across fast-developing and well-connected suburbs like:

• Virar
• Kalyan
• Palghar
• Mira Road
• Navi Mumbai
• Khoni, and others.

What makes these locations attractive is a mix of ongoing infrastructure upgrades, proximity to Mumbai, and the opportunity to own a home at a fraction of market prices.

20–30% Lower Prices Than Market Rate

Real estate experts say the biggest draw is affordability.

“MHADA flats are priced nearly 20–30% lower than prevailing market rates, especially in the EWS and LIG segments. In a city like Mumbai, this is the only realistic route to homeownership for many,” says a property market analyst.

Buyers also benefit from a transparent lottery system, no brokerage, and minimal paperwork, making it a cleaner, hassle-free process compared to private sector projects.

Who Can Apply — And What’s Needed?

To apply, individuals must meet certain basic criteria:

• Be an Indian citizen, 18 years or older
• Provide proof of 15 years of residence in Maharashtra (domicile)
• Submit a PAN card and income documents
• Apply under the correct income category: EWS, LIG, MIG, or HIG

No domicile certificate yet? No problem.
MHADA has clarified that those without a domicile certificate can still apply as long as they submit proof that their application for the certificate is in process.

Application Deadline Closing In Fast

MHADA hasn’t announced an official last date, but given the flood of applications, experts warn that competition will be intense, and the number of applicants may quickly far exceed the number of available homes.

Applicants are advised to gather their documents early, especially the domicile certificate, which is turning out to be more important than money in this process.

Bottom Line

In a housing market where prices are out of reach for most middle-income buyers, the MHADA Konkan Board Lottery 2025 is offering a genuine chance at homeownership — and thousands aren’t waiting around to try their luck.

Also Read: MHADA Announces Lottery for 1,418 Homes

The post Why Are Thousands Rushing to Apply for the MHADA Konkan Lottery appeared first on Square Feat India.

Despite changing lifestyles, growing urbanisation, and a rising gig economy, the Indian obsession with owning property remains as strong as ever. In fact, it’s evolving, with younger generations now buying homes not just to live in — but to earn from, pass on, and hold close as a symbol of identity.

This enduring love for real estate, experts say, is deeply tied to India’s socio-cultural values, family structures, and long-term financial behavior.

“Owning a home in India is not just a financial decision — it’s a deeply emotional and cultural milestone. It’s about legacy, pride, and a sense of arrival,” says Dr. Prashant Thakur, Regional Director & Head – Research, ANAROCK Group.

Legacy over Liquidity

For many Indian families, property remains the only real form of generational wealth. Ancestral homes are often cherished for decades, even centuries, becoming part of the family’s identity.

In Kolkata’s Shobha Bazar, a 120-year-old mansion still houses five generations. The owners have refused redevelopment offers, saying the home is their “living history.”

A 2023 ANAROCK report found that 68% of Indian homebuyers are end-users, and 80% plan to pass on their property to their children, underscoring that homeownership here is as much about legacy as it is about investment.

Renting Still Seen as a Stopgap

While renting is a lifestyle choice in many Western countries, in India it is often viewed as a temporary solution — or even a wasteful expense.

A 2022 RBI survey showed that 77% of household wealth in India is in real estate, compared to just 35% in the US. For most Indians, paying rent is considered “money lost,” while EMIs are seen as equity in progress.

Take Rajat, a 32-year-old software engineer in Pune. Despite having company-sponsored housing, he chose to buy a ₹1 crore apartment. “Renting feels like a leak. At least an EMI is building something for me,” he said.

The Safe Bet Mindset

Indians have long viewed real estate as a safer investment compared to volatile alternatives like stocks, mutual funds, or crypto.

During the 2008 global financial crisis, while global property markets tanked, prices in India’s top cities remained largely stable. The COVID-19 pandemic also saw a quick rebound in the Indian housing sector — by 2023, over 4.76 lakh units were sold across the top cities.

“Unlike other investment classes, real estate is tangible, slow-moving, and emotionally satisfying — all key factors for the Indian buyer,” says Dr. Thakur.

Policy Support and the Power of EMIs

Government incentives have also played a pivotal role in promoting homeownership. Tax benefits, interest subsidies, and favourable GST rates on affordable housing have made buying more accessible.

Key initiatives include:

• Tax deductions under Sections 80C and 24(b) (recently increased to ₹3 lakh for interest repayment)
• 1% GST on under-construction affordable homes
• Subsidies under PMAY-CLSS, with interest benefits up to 6.5%
• Stamp duty rebates for first-time buyers in several states

These schemes, along with relatively easy loan access, have led to strong uptake. According to SBI, over 70% of its 2023 home loan portfolio was to salaried individuals aged 30–45 — mostly first-time buyers.

Social Status and Matrimonial Market Value

Homeownership is often tied to social perception. In matchmaking and societal interactions, owning property is seen as a mark of stability and success.

A marketing professional in Delhi NCR noted that when he updated his matrimonial profile to include “2BHK owner in Gurgaon,” responses noticeably improved.

Urbanisation and FOMO

As India rapidly urbanises — with urban population projected to hit 42% by 2035 — property prices are soaring. This has triggered a Fear of Missing Out (FOMO), especially among younger buyers who fear being “priced out” of the market.

In Mumbai, average ticket sizes have jumped from ₹1.5 crore in 2020 to ₹2.15 crore in 2024, according to ANAROCK.

Homes as Income Engines

Unlike previous generations, today’s buyers aren’t just looking for a place to live — they’re looking to earn. From renting spare rooms on Airbnb to investing in co-living or commercial spaces, homes have become income-generating assets.

Platforms like Strata and hBits are enabling fractional ownership in commercial real estate, attracting HNIs and NRIs with entry points of ₹10–25 lakh and returns of 8–10% annually.

Conclusion: More Than Bricks and Mortar

Real estate in India isn’t merely about square footage. It’s about security, belonging, and ambition — and often, the culmination of a lifelong dream.

“In India, buying a home is not a transaction — it’s a statement,” Dr. Thakur concludes. “It’s how we define stability, express success, and plan for future generations. It’s our story, written one EMI at a time.”

Also Read: MahaRERA Issues Guidelines to Ensure Safe Home Buying Practices

The post Rooted in Realty: Why Indians Still Put Their Heart into Homeownership appeared first on Square Feat India.

Anil Kumar Agarwal, the founder of Vedanta and one of India’s richest entrepreneurs, recently shared a remarkable story about his first home purchase in Mumbai. Despite having only ₹75,000 in his bank account at the time, he set his sights on owning a flat in one of the city’s most prestigious neighborhoods—Malabar Hill.

In a post on X (formerly Twitter), Agarwal recounted:

“When I first came to Bombay, I was livingj near Cotton Exchange near Kalbadevi. My first business partner had a small office there, and that’s where it all began. Life was simple, but my dreams were not.

After a lot of hard work and jugaad, I finally dared to think about buying my own flat. Sapne bade the, lekin bank mein sirf ₹75,000 the.

People advised me to look in the suburbs, it was cheaper and more practical. But I had a different dream. I wanted to live where the top people lived. Malabar Hill, near Peddar Road, that’s where I saw myself, because I believed that one day, I would also make it big.

I still remember buying my first flat in Navranga Apartment. It was a small 330 sq ft flat, but it felt like my biggest achievement. That house wasn’t just bricks and walls, it was my belief that I was moving in the right direction.

Looking back, I’ve learned one thing; life is all about dreaming big and believing in yourself. Start small, work hard, and never let anyone tell you what you can or cannot achieve.”

Agarwal’s story is a testament to the power of ambition and calculated risk-taking in real estate. In today’s market, where homeownership remains a key aspiration, his story serves as a reminder that determination and vision can turn even the smallest beginnings into major milestones.

Also Read: stamp duty discount for homebuyers

The post With Just ₹75,000 in His Bank, Vedanta Founder Anil Agarwal Bought His First Home in Malabar Hill appeared first on Square Feat India.

What Has Changed?

Previously, under the Income Tax Act, if an individual owned more than one property but did not rent it out, they were still required to pay tax on notional rental income—essentially, a tax on the assumed rent they could have earned. The new policy eliminates this tax on a second self-occupied home, providing significant relief to homeowners and investors.

Industry Reactions

Experts from the real estate industry have welcomed this move, highlighting its potential impact on homebuyers and the housing market.

Domnic Romell, President, CREDAI-MCHI

“The move to allow taxpayers to claim the annual value of two self-occupied properties as nil is a significant step. Previously, homeowners could claim tax exemption on only one self-occupied property, while additional properties were subject to tax—even if they were not rented out. This progressive reform provides substantial tax relief, encourages homeownership, and acknowledges the evolving housing needs of Indian families.”

Anuj Puri, Chairman – ANAROCK Group

“This change is a positive move for residential real estate investment. By allowing homeowners to claim Nil valuation for two self-occupied properties, the government has removed the burden of taxation on notional rental income from a second home. This step minimizes tax pressures, promotes homeownership, and facilitates real estate investment, particularly in second homes and Tier 2 and 3 cities.”

What This Means for Homebuyers and Investors

1. Encourages Real Estate Investment – With the removal of tax on the second self-occupied property, more individuals will be inclined to buy a second home—whether as an investment or a weekend retreat.
2. Boosts Housing Demand – The reform is expected to increase demand for housing, particularly in Tier 2 and Tier 3 cities, where second-home purchases are on the rise.
3. Supports Long-Term Financial Planning – Buyers can now own multiple properties for personal use without worrying about additional tax burdens, making real estate a more attractive long-term asset.
4. Strengthens Rental Markets – Although the exemption applies to self-occupied properties, it reduces financial constraints on property owners, which could lead to a more flexible and dynamic rental market.

Final Thoughts

The exemption on notional rental income for two self-occupied properties is a pro-consumer, pro-real estate move that will benefit middle-class homebuyers, investors, and the housing sector as a whole. With growing urbanization and increasing aspirations for homeownership, this policy change is expected to have a lasting impact on India’s real estate landscape.

For those looking to purchase a second home, now might be the best time to invest.

Also Read: Affordable Housing Crisis: Will Budget 2025-26 Turn the Tide?

The post New Tax Exemption on Two Self-Occupied Properties: A Game-Changer for Homebuyers and Investors appeared first on Square Feat India.

Key Budget Highlights Impacting Real Estate

• Zero Income Tax Up to ₹12 Lakh: This move is expected to boost disposable income and increase housing demand, particularly in the affordable and mid-income segments.
• ₹1 Lakh Crore Urban Challenge Fund: Aims to transform cities into economic hubs, supporting infrastructure and real estate growth in Tier 1 & Tier 2 cities.
• ₹15,000 Crore SWAMIH Fund 2.0: Expected to revive 1 lakh stalled housing units, benefiting homebuyers and developers facing liquidity constraints.
• TDS on Rental Income Increased: Raising the TDS limit on rent from ₹2.40 lakh to ₹6 lakh will ease compliance burdens and improve rental housing investments.
• Tax Exemption on Two Self-Occupied Properties: Homeowners can now claim tax benefits on two properties instead of one, reducing tax burdens and promoting real estate investments.
• Expansion of GCCs in Tier-2 Cities: Will drive commercial real estate demand in emerging cities, boosting office space and warehousing needs.
• Digitization of Land Records: Expected to enhance transparency and efficiency in real estate transactions, boosting homebuyer confidence.

Industry Reactions

Dr. Niranjan Hiranandani, Chairman, NAREDCO & Hiranandani Group

The budget strengthens infrastructure investment and real estate demand, with the SWAMIH Fund 2.0 ensuring the completion of stalled projects. However, inadequate long-term investment and the absence of affordable housing incentives remain concerns.

Domnic Romell, President, CREDAI-MCHI

The increase in income tax exemption and rental TDS limits will benefit middle-class homebuyers and landlords. The SWAMIH Fund’s expansion is a welcome move, but further policy reforms, including GST rationalization, are needed to unlock the sector’s full potential.

Prashant Sharma, President, NAREDCO Maharashtra

While tax relief and urban development initiatives are positive steps, the budget lacks direct incentives like industry status and single-window clearances that could have accelerated real estate growth.

Badal Yagnik, CEO, Colliers India

The budget furthers the vision of ‘Viksit Bharat’ with reforms in urban development, taxation, and regulatory frameworks. The SWAMIH Fund extension and Urban Challenge Fund will accelerate real estate growth, while rationalized taxes will spur investments in residential real estate and REITs.

Shrinivas Rao, CEO, Vestian

The budget’s focus on employment generation, infrastructure, and increased disposable income will drive demand across all real estate segments. Additionally, the SWAMIH Fund and digitization of land records will strengthen homebuyer confidence. Infrastructure upgrades, particularly in air cargo, will fuel warehousing demand nationwide.

Piyush Bothra, Co-Founder & CFO, Square Yards

The zero-tax provision up to ₹12 lakh will boost homebuyers’ purchasing power. The ₹15,000 crore SWAMIH Fund is a crucial intervention for stalled projects, but increased home loan deductions could have further enhanced affordability and eased credit constraints.

Rohan Khatau, Director, CCI Projects

Infrastructure spending and PPP initiatives are welcome, but key reforms such as stamp duty rationalization and higher home loan interest deductions were expected. The sector may require mid-year policy interventions.

Vikas Sutaria, Founder, Irah Lifespace

The budget lacks incentives for NRI and HNI investments in luxury real estate. While TDS rationalization helps, easing investment norms for these segments could have further boosted the sector.

Shraddha Kedia-Agarwal, Director, Transcon Developers

The Urban Challenge Fund and infrastructure-focused projects will drive growth, but the real estate sector still needs tax rebates and industry status for sustained expansion.

Samyak Jain, Director, Siddha Group

The revamped tax structure and middle-class benefits will increase disposable income, empowering homebuyers and fueling sectoral growth.

Abhishek Jain, COO, Satellite Developers

The budget’s emphasis on urban development and tax relief is positive, but liquidity issues, taxation burdens, and policy hurdles remain. A more comprehensive real estate policy is required.

Manju Yagnik, Vice Chairperson, Nahar Group & Senior VP, NAREDCO Maharashtra

The budget strengthens economic resilience with its focus on infrastructure. However, a targeted housing policy and tax incentives would have further fueled real estate growth.

Rajiv Agrawal, Co-Founder, Saarathi Realtors

The tax relief and SWAMIH Fund 2.0 will make homeownership more accessible, unlocking new investment opportunities in real estate.

Anuj Puri, Chairman, ANAROCK Group

The budget focuses on economic growth, consumption, and infrastructure but lacks major announcements for affordable housing, leaving stakeholders hoping for mid-year interventions.

Conclusion

The Union Budget 2025-26 introduces significant tax relief and urban development initiatives, indirectly benefiting the real estate sector. However, industry experts believe the absence of direct incentives—such as higher home loan deductions, single-window clearances, and GST rationalization—limits the sector’s full growth potential. While the middle class gains from tax relief, developers and investors look forward to further structural reforms to sustain long-term real estate momentum.

Also Read: budget expectations for real estate

The post Budget 2025: Tax Relief on Two Homes, ₹15,000 Cr SWAMIH Fund & Urban Growth Push Real Estate Forward appeared first on Square Feat India.