GST TO MAKE HOMES EXPENSIVE – FIND OUT HOW

Home / Blog / GST TO MAKE HOMES EXPENSIVE – FIND OUT HOW

GST TO MAKE HOMES EXPENSIVE – FIND OUT HOW

What Is GST?

Goods and Services Tax is an indirect tax which will replace the taxes imposed by the state governments and the central government. It is a uniform tax rate applicable throughout  the country.

 

How Is GST Going To Impact The Housing Prices?

The decision to tax construction at 18% for under-construction and new projects will have a big impact on the housing prices. GST is expected to have an inflationary effect and the final ticket price is expected to shoot up.  Nevertheless, the council has allowed for Input Tax Credit (ITC) on the raw materials and services in the construction industry which could help neutralize a rise in the cost

 

What This Means For The Buyers?

  • You can confidently investin real estate.
  • You don’t have to pay any more indirect taxes after the implementation of GSTwhich is a uniform tax rate throughout the country.
  • The prices will be impacted with the combined force of GST and RERA. If you are on the lookout to purchase a house, it is time to weigh your options and buy before the price increases.

Impact Of GST on the Realty Sector

On the whole, it is believed that GST will bring about a change in the real estate sector and will benefit both the buyer as well as the seller in different ways. Simplification of taxation will ensure efficiency and transparency in the industry. However, prices will increase post GST implementation.

If you are looking to buy an apartment, it is the right time to invest before the increase in prices due  to GST.

Know more about our ongoing projects on OMR, Chennai.

Adroit Artistica, Premium 3 BHK, Town Houses and Penthouses in Sholinganallur, OMR->  bit.ly/Artistica_OMR

Adroit District S, 1, 2, 2.5 and 3 BHK homes in Thalambur, OMR->bit.ly/DistrictS_OMR

 

Disclaimer: All the details given in this blog have been sourced from newspaper articles and other online sources.

Recent Posts

Leave a Comment

DISCLAIMER

We are in the process of revising our website in consonance with the Real Estate (Regulation and Development) Act, 2016 and the Rules made there under (“RERA”), which have been brought into effect from 1st May, 2017. By accessing this website, the viewer confirms that the information including brochures and marketing collaterals on this website are solely for informational purposes only and the viewer has not relied on this information for making any booking/purchase in any project of the Company.Also not all out projects fall under RERA, and the same would be indicated clearly when the site is updated.

Until our website is duly revised and updated, none of the images, material, stock photography, projections, details, descriptions and other information that are currently available and/or displayed on the website, should be deemed to be or constitute advertisements, solicitations, marketing, offer for sale, invitation to offer, invitation to acquire, including within the purview of the RERA.

You are therefore requested to directly verify all details and aspects of any proposed booking/acquisition of units/premises, directly with our authorised representatives.

The company, under no circumstance will be liable for any expense, loss or damage. This damage includes indirect loss or damage of data arising out of or in connection with the use of this website.

I AGREE

CLOSE

[imagemap id=”7365″]

CLOSE

Close
FLOOR PLAN

Close