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Will GST on Real Estate benefit home buyers and the sector?


Kolte Patil Centria | Impact of GST
Impact of GST on Real Estate

The recently implemented tax GST (Goods & Services Tax) which gained mixed reactions from the people is also applicable in the residential real estate transaction. Residential construction services will invite 12% of tax and is applicable to the developers selling residential units before completion of construction to the home buyers. Cement, sand, steel attract GST and hence the prices along with GST on the property also goes up. The luxury property is entitled up to 12% GST and affordable housing projects are exempted from the GST. If the occupancy certificate for the project has been received, then, no GST will be applicable. GST has also been levied on the renting of residential property.
It is advised to the buyers to be aware when the builder asks you to pay just 1% or a very nominal payment and the balance after possession, you will still have to pay the GST on the full amount. Which is a bit more money from your pocket where you need to be careful.

Kolte Patil Centria the destination of comfort:

Kolte Patil Centria is one such project to be launched by premier real estate developers Kolte Patil. Kolte Patil Centria is situated in Undri road the fast developing and commercialized area of Pune. The property is located amidst the greenery in the lap of nature within the city norms to deliver a serene and tranquil atmosphere. Kolte Patil Centria is a brilliantly designed property with amenities, safety, facilities and remarkable connectivity with other places. It comprises of spacious 3 BHK apartments with carpet area ranging from 994 sq.ft to 1163 sq.ft. 
Highways and expressways are located close to the project to offer excellent connectivity with other parts of the city. Prominent schools, hospitals, colleges, recreational centres, IT hubs are in close proximity to the property making it easily accessible too. Various amenities like a completely hassle-free parking area, spacious recreational open area and community buildings to conduct activities like parties, birthdays, and weddings along with advanced fire protection for the safety of the inmates. Kolte Patil centria features internal roads and footpaths for a congestion-free movement of vehicles and pedestrians.

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Location: NIBM Undri Road, Kondhwa, Pune, Maharashtra 411048, India

Comments

  1. UnknownFebruary 27, 2019 at 4:37 AM

    GST rate has cut for property buyer Read this for more information: 2019 GST Rate Cut Relieves Property Buyers Again

    ReplyDelete
  2. Micheal AlexanderDecember 13, 2020 at 10:23 AM

    Interesting Article. Hoping that you will continue posting an article having a useful information. Wholesale to Millions

    ReplyDelete

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