The GST Council on Tuesday decided to allow all projects where construction begins from April to move to a lower levy, but postponed a decision on the Maharashtra government’s demand for classify apartments that cost under Rs 70 lakh in Mumbai as “affordable housing”. The decision follows the council’s move to lower GST rates to […]
GST Council in its 34th meeting to be held on 19th March 2019 is expected to take up various issues including the implementation of lower GST rates for the real estate sector. The meeting is likely to deliberate only the transition provision and related issues for the implementation of lower GST rates for the real […]
As many as 71,749 affordable homes are currently being built, with more than half being 2 BHK dwellings. These will be ready over the next two or three years. After having declined steadily for three years in a row, availability of affordable homes – mainly 2BHK units – in Ahmedabad city is set to surge. […]
GST Council to meet on March 19 to finalise real estate tax structure. Goods and Services Tax (GST) Council is scheduled to meet on March 19 to finalise guidelines to support the changed tax rate structure for under-construction houses. This would be the only substantive item that will be taken up, officials in the know […]
The government is planning to bring tenanted or cessed buildings and tenants of such buildings under the Real Estate (Regulation & Development) Act, 2016 (RERA),providing for the first time the same protection to these consumers as those available to other home buyers. The tenanted or cessed buildings that dot the landscape of many cities, especially […]
Rajasthan govt scraps stamp duty on transfer of immovable property from husband to wife as gift. Under the present system, 2.5% stamp duty is charged on the market price of the property in case of its transfer in the name of father, mother, son, sister, daughter-in-law, grandson or daughter as a gift. The Rajasthan government […]