REAL ESTATE PROPERTY, NET

9 Months Ended

Apr. 30, 2024

REAL ESTATE PROPERTY, NET

REAL ESTATE PROPERTY, NET

NOTE 5 – REAL ESTATE PROPERTY, NET

As of April 30, 2024, and July 31, 2023, property and equipment consist of as follows;

	April 30,			July 31,
	2024			2023
Homes	$	996,003		$	546,852
Lands		7,656			3,828
Construction in progress		538,371			333,596
		1,542,030			884,276
Accumulated depreciation		(20,889	)		-
	$	1,521,141		$	884,276

During the nine months ended April 30,2024 and the year ended July 31,2023, three (3) homes and three (3) homes were completed, respectively.

As of April 30, 2024, the construction in progress consists of the cost of titles and construction for 8 homes which have not been completed.

As of April 30, 2024, the Company entered into five (5) separate lease agreements with monthly lease payments of $1,100 for one home, and $1,250 for four homes, each for a period of one year for each home leased. As of April 30, 2024, one home which the occupancy permit was issued on February 15, 2024, has not been leased.  

During the nine months ended April 30, 2024, the Company recorded a depreciation expense of $20,889.