GST Rate Cut: Real Estate Industry Outlook

Affordable Housing Redefined: Anuj Puri, ANAROCK Property Consultants

www.newsbarons.comThe 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.

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A big relief to the Indian Real Estate Sector: Khushru Jijina, Piramal Capital & Housing Finance

www,newsbarons.comGST council meet has granted a big relief to the Indian Real Estate Sector. The highly awaited decision to lower GST on under-construction homes will ease some of the uncertainty around the real estate sector. The move is expected to stimulate demand within India’s growing urban middle class and boost sales. The tax reduction led price correction would be beneficial for both developers and end-consumers and there should not be any major dent in tax revenues as sales pick up. The current move is in line with our expectations from the Government to revive the real estate sector which plays an important role in the Nation’s growth and employment generation.