The GST Council is expected to clarify that the Real Estate Regulatory Authority (RERA) will be exempt from GST. This decision follows concerns that GST effectively taxes state governments.
Tenants of commercial spaces will pay 18% GST on electricity charges bundled with rent. However, actual cost recovery by real estate owners acting as agents is exempt. Experts debate the implications.
CREDAI warns of 10-15% hike in property prices due to rising construction costs, attributed to increasing raw material prices and construction delays.