Latest Real Estate News Delhi, India - Real Estate market in india [Valid RSS]

GST Council Meet

GST Council Meet – Real Estate’s Hopes Vs Reality

by Anuj Puri The real estate sector is obviously not without its own hopes from the first GST Council meeting of Modi 2.0. Reducing the GST rate for cement from the current 28% slab to 18% had been a long-standing demand of industry stakeholders. That said, while the announcement of such a reduction would certainly help developers, the ‘real’ question is whether homebuyers would benefit. This depends on whether the benefits of the reduced cost of raw materials is actually passed on to the consumers. It brings to mind a similar question related to home loan rates vis-a-vis RBI’s announcement of repo rate reductions. The actual transmission of such reductions to home loan borrowers has been minimal, even though the RBI lowered its repo rates three consecutive times. The hop...

How to save taxes on property purchases – RealtyMyths

by Pankaj Jain “With the enactment of Goods and Services Tax (GST), today’s taxation system in the context of purchasing a property has become much effortless than it was before July’2017. Several taxes previously applicable on property purchase like VAT, Service tax, just to name a few, now have all been comprehended under this single unified platform – Goods & Service Tax. Tax exemptions, if availed appropriately, can contribute a big way, in easing out the burden on a Homebuyer. Under Construction Properties GST Council has approved a transition plan for the implementation of the new tax structure for housing units. Under the new plan, builders whose residential projects are incomplete will have the option to choose between the old tax rates and new ones for under-construction...

GST Rates Cut, Affordable Housing Redefined – RealtyMyths

The slash in GST rates to 5% without ITC from the previous 12% with ITC for premium homes, and to 1% minus ITC for affordable homes from the earlier 8%, gives the beleaguered realty sector the much-needed breathing room and will certainly help it maintain some forward momentum in 2019. Another booster shot given by the government is changing the very definition of the budget-range of affordable housing. Extending the definition to housing priced within INR 45 lakh is credible. It will make more properties from the premium budget fall into the affordable segment category, and thus benefit buyers in cities like MMR where property prices are exorbitant. Yet again, the affordable segment has got a major push today and buyers of this segment will benefit immensely. This will certainly cause sal...

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.