Q2 FY25 Quarterly Review — Budget Reset, Festive Pre-Funnel, Rate-Cut Setup
Q2 FY25 brought the biggest tax-policy reset for real estate in two decades — the move from 20% with indexation to 12.5% flat.
Key findings
- Finance Act 2024 LTCG change implemented from July 23 — 12.5% without indexation now law.
- Section 54/54F/54EC reinvestment routes ALL preserved.
- Q2 plotted absorption Sectors 84-114: 71% in 90 days — Phase-II launches at +18% to Phase-I.
- Mumbai BMC redevelopment OC-clear stock crosses 950 units — best supply in 5 years.
- Pre-leased commercial cap-rates: Hyderabad 8.0%, Bengaluru 8.0%, Pune 8.2% — clear compression.
- RBI Sep MPC commentary turns explicitly dovish — first cut consensus pushed to Dec/Feb.
Finance Act 2024 — The Real Math
Cohort-by-cohort, holding-period-by-holding-period post-tax IRR rebuild.
Gurgaon Q2 Corridor Audit
Post-Budget pricing and absorption response, corridor by corridor.
Pan-India Commercial Compression
Where cap-rates broke 8.0%, and what it implies for the next 12 months.
Mumbai Redevelopment Deep-Dive
BMC-clear OC-ready Khar–Bandra–Santacruz — the new core.
NRI Q2 Cheque-Flow plus Tax-Planning
How UAE, US, UK families repositioned post-Budget.
Q3 FY25 Convictions
Three pre-festive trades worth writing now.
EstateVeda Verdict
Q2 FY25s policy reset rewards long-held legacy holdings and penalises recent under-5-year purchases. Q3 belongs to festive plotted Phase-III plus Mumbai BMC OC-clear redevelopment.