Experts' Take
Aman Nagar, Director, Paras Buildtech
This is yet another burden on the already over-burdened developers who are reeling under the effect of slowing sales, tight liquidity and high interest rates on funds. Besides developers, imposition of 5 per cent VAT on property transaction will hurt the buyers most for whom property prices are increasingly getting out of reach. The confusion can be avoided if it is applied prospectively.
Aman Nagar, Director, Paras Buildtech
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