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Real-estate players developers welcome GST implementation

Real-estate players developers welcome GST implementation

Real-estate developers have welcomed the implementation of Goods and Service Tax. According to them, GST will greatly improve a fractured tax system and help create an integrated Indian market. The government has always made it clear that leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting GST.

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Developers look for lower costs, increased housing supply

Developers look for lower costs, increased housing supply

Real estate developers are hoping for a raft of Budget proposals that will enable lower cost of construction, speedier approvals and help increase supply of housing. PS Jayakumar, Managing Director, Value and Budget Housing, believes that FDI requirement should be lowered to 20,000 sq m for residential projects against the current minimum limit of 50,000 sq. m to be eligible for FDI.