Connect with us

Bytes

Ready-to-move-in units to get costlier

Ashok Naidu

“Prices of ready-to-move-in properties might go up in the near term. Although GST gives an option to get full input set-off credit for developers, it is not applicable on ready-to-move-in properties. Hence developers will either have to bear the tax burden or increase the price in line with the taxes. As the tax rate to the end consumer is also higher under GST, it will impact sales over the next few months. The customers have to pay an additional under GST 3-6.5 per cent depending on the state.”

Ashok Naidu

Director, Kumari Builders and Developers 

Latest News

Guest Column6 hours ago

Welspun Gp acquires Sintex BAPL

Mumbai, March 30, 2023: Welspun Group has acquired the plastic industry market leader, Sintex.  Sintex’s auto business already has a...

New Launches6 hours ago

Naiknavare Developers launches Avasa, new vertical of structured plots; commences e-commerce platform designed for plotting

Pune, March 30, 2023: Naiknavare Developers, renowned for its well-thought-out community-centric residential and commercial projects in Pune, Mumbai, and Goa, today announced it...

News7 hours ago

Residential demand up 14.2%, supply grew 1.9% YoY: Magicbricks PropIndex Report, Jan-Mar’23

New Delhi/Noida, March 30, 2023: Continuing on the path of resilience and overall growth, India’s residential demand increased 14.2% and...

News7 hours ago

Mahindra Life transacts with Alliance Gp for 9.24 acres at Mahindra World City, Chennai

New Delhi, March 29, 2023: Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development business of the Mahindra...

New Launches2 days ago

TVS Emerald, HDFC Cap create Rs 1000 cr platform for plotted development projects

Chennai, Bangalore, March 29, 2023: Emerald Haven Realty Ltd (“TVS Emerald”), has signed a term sheet with HDFC Capital Affordable Real Estate Fund...

News2 days ago

Retail sector leasing likely to touch 5.5-6 mn sq ft in 2023, highest level after the 2019 peak: CBRE Outlook

March 29, 2023 – CBRE South Asia Pvt. Ltd., on Wednesday announced the findings of its report, ‘2023 India Market...

Trending