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Elan Town Centre Sector 67, Sohna Road, Gurgaon

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Elan Town

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How much will your savings be to reduce GST on home?

The Council of Goods and Services (GST) has decided to reduce tax rates on the under construction houses. New rates for affordable housing projects are 1 percent. 5 percent for others New rates are effective from April 1. GST rates are 8 percent for the affordable housing projects and 12 percent for the rest. The Council has also redefined affordable housing. It will come in the same house which is less than Rs 45 lakhs.

Also, in metro cities, they are 60 sq. Meters and another 90 square meters. How will these decisions affect real estate companies? First, the difference in prices between under-construction and completed projects will be reduced. Demand for projects that are being created will speed up again. This will especially benefit those builders who make houses for low-income groups.
The reason is that the GST gap be…