The new rate of 5 per cent will be applicable from 1st April 2019 and has been welcomed by the industry, as it will boost demand in the real estate sector. Currently, under-construction residential properties attract a rate of 18 per cent. After considering the input tax credit (ITC) on payments made the effective GST levied is 12 per cent.
Have you ever felt lost while talking to your realtor? They go on about super built up and carpet areas, OSR and loading factor. If you have taken the plunge into home buying, being aware of construction progress will save you a lot of trouble and heartache. If you have taken the plunge into home buying, being aware of construction progress will save you a lot of trouble and heartache. Let’s take a look at the key stages of construction.
Every year we look to the budget to see how it will impact our lives and which segment will it favour. Real estate always makes its presence felt in a budget speech. the interim budget 2019 announced several measures that would directly impact demand and benefit the homebuyer. Let’s take a look at some of these benefits.