The government of India left the GST at 12 per cent without rationalising it for the home buyers. Sanjay Chatrath, Managing Director (North) at Colliers International India said that home buyers were looking forward to rationalization of GST slab for under- construction flats, which has been kept open-ended for now.
Also Read : Why reduced GST will prove costly for budget homebuyers
The government of India is giving GST exemption to the unsold ready to move in flats for the home buyers that makes a unit cheaper by around Rs 12 lakhs. On the line of that exemption, the real estate developers and the home buyers are demanding GST rate rebate from the existing 18 per cent for under-construction units.
Also Read : Explainer | Here’s how much you will pay if GST on under-construction houses is cut to 5%
