GST Rate Cut: Real Estate Industry Outlook

We expect good traction for ongoing projects: Vaibhav Deo, Raheja Universal Pvt Ltd.

The move by the GST Council to revise the rates from 12% to 5% has come as a pleasant and welcome change to our industry. We are optimistic about consumer sentiment and expect a lot more positivity in buying sentiment going forward. This move incentivises both the developers as well as the consumers and we expect good traction for ongoing projects and especially in the affordable segment which we believe will stand to benefit the most.

This move will help reduce the gap between demand and supply: Jose’ Braganza, B&F Ventures (P) Ltd.

The GST rate cut announced by Union Finance Minister Mr. Arun Jaitley will provide much-needed relief for the home buyers looking to purchase under construction properties for end use or investment purposes. With a rise in the number of unsold under construction inventory, this move will help reduce the gap between demand and supply in the industry. It will not only attract first time home buyers but also HNIs and NRIs. We welcome this decision of the GST Council and hope to see a flourishing growth of the real estate sector.