“We recommend that the condition related to price cap of Rs 45 lakh be immediately abolished and the benefits be restored to all the houses which has area less than 60/90 square metres,” said President of CREDAI (National) Satish Magar. With Finance Minister Nirmala Sitharaman set to present the Union Budget 2020-21 in Febuary, real…
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Homebuyers are inundated with good news. Earlier this month, the budget proposed an additional deduction of ₹1.5 lakh on interest paid on loans for affordable housing priced up to ₹45 lakh. Last week, the State Bank of India reduced its marginal cost of lending rate (MCLR) by 5 basis points across all tenures. By themselves,…
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The 33rd meeting of the Goods and Services Tax (GST) Council chaired by Finance Minister, Arun Jaitley summed a major change in the GST rates for under-construction housing projects. From 12 percent, the GST has now been brought down to 5 percent for under-construction houses and form 8 percent to 1 percent for affordable housing….
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The GST Council is likely to consider lowering GST on under-construction flats and houses to 5 per cent in its meeting next month, an official said. Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued…
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