Categories: Latest

Paradigm Realty on the result of the 33rd GST Council Meeting

New Delhi, March 02, 2019: “Reducing the rate of  GST from 12% with an input tax credit (ITC) on payments made for under construction buildings or ready to move in flats to 5% without ITC on non affordable houses and revising down from 8% to 1% on affordable housing segment is only a buyer centric move by government. However developers will be burdened with GST payments to vendors , suppliers , agencies and contractors and this will land up increasing cost further admidst the already shrinking margin in business due to dynamic policies implemented by government. In order to realise our Prime Minister’s dream of ‘Housing for all by 2022’, the ITC will have to continue or else it will put the entire tax burden on developers hitting the real estate down further. Developers have already got impacted due to NBFC crisis too apart from dynamic policies implemented in last three years . An increase from 30 sqmt to 60 sqmt for metros and from 60sqmt to 90 sqmt for non metros to be considered affordable housing will give a boost to the affordable housing segment as the developers will be able to to work on more margins across areas.”

Corporate Comm India(CCI Newswire)

Recent Posts

Line Investments & Property SP LLC Triumphs with 21Awards at MECS+R MENA 2024

Riyadh, November 07, 2024: Line Investments & Property SP LLC, a prominent subsidiary of LuLu…

8 hours ago

Intellion Offices by Tata Realty & Infrastructure Ltd Posts 60% YoY Growth in GCC Absorption

First half of FY 25 continued with strong GCC demand with 80% contribution in space…

8 hours ago

Champion REIT Recognised as ‘GRESB Global Listed Sector Leader’

- Sustainability Leadership Shines in 'GRESB Real Estate Assessment' and 'GRESB x HERA Standing Investment…

1 day ago

GCCA India joins hands with Xynteo’s Build Ahead coalition to decarbonise India’s construction sector

Mumbai, November 06, 2024: The Global Cement & Concrete Association (GCCA) India and Xynteo announced…

1 day ago

Sohna emerges as new micro-market in Delhi-NCR; set to add 16000+ residential units in 3 years

New Delhi, November 05, 2024: Haryana’s Sohna is emerging as a new micro-market in the…

2 days ago

Neo Developers Pvt Ltd. Appoints Manpreet Kaur as President – Sales

New Delhi, November 04, 2024: Neo Developers, a leading real estate company has announced the…

3 days ago