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.
The 47th GST Council meeting introduced GST on renting residential properties to registered individuals, clarifying tax liability scenarios effective July 18, 2022.
Navigating the resale flat market in Pune involves weighing benefits like tax savings and immediate move-in readiness against potential drawbacks such as limited property appreciation.
The Union Budget 2013-14 provided minimal direct support to the real estate sector, addressing affordable housing slightly and impacting the luxury segment negatively.
Budget 2013 is anticipated to favor home buyers, with potential provisions for affordable housing. Realty players seek tax exemptions and lower interest rates.
Indian real estate players anticipate the Finance Minister's budget to lower construction finance costs, boost the sector, enable affordable housing, and expedite project clearances.
Maharashtra High Court orders real estate builders to pay 5% VAT by October 31, but many developers are pressuring buyers to pay due to lack of proper records.
Uttaranchal's real estate is vying for foreign investment amid rapid growth, buoyed by favorable government policies for developers in Dehradun's burgeoning market.