GST Waivers on New Home Launches to Attract Buyers

Besides the usual interest subvention scheme and freebies, this festival season realty developers are offering GST waiver to attract buyers even as new launches have become selective.

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GST Waivers on New Home Launches to Attract Buyers

New Home Launches: Besides the usual interest subvention scheme and freebies, this festival season realty developers are offering GST waiver to attract buyers even as new launches have become selective.

After demonetisation, RERA and GST implementation, developers say green shoots of recovery are visible, specifically in mid-segment and affordable housing.

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According to industry watchers, GST has reduced the cost of construction for developers who are now able to use input credits for material and services, which was a challenge with the earlier indirect tax regime.

During the upcoming festive occasions, Supertech is giving assured gifts on every new booking. Moreover, customers can get GST waiver for any new purchase in its ongoing and ready-to-move-in flats across all projects in 50 locations.

Director of ABA Corp said, easy payment schemes, extended discounts, small appreciation gifts like mobile phones, gold coins or other discounts offerings are being offered by developers. Besides these, developers are sharing the burden of GST with the consumer, while making sure that half of the tax burden will be taken care by them. In fact, they have also gone ahead to make sure that the stamp duty charge is also paid by them.

CEO & Founder of PropEquity, said, “There is definitely solid demand for ready-to-move-in properties. We expect this festival season to do better than last year as developers are now offering lot of freebies and discounts to clear their earlier stock as well as selectively launching new projects. There is a lot of unsold inventory in the market which is nearing completion.”

CEO & Founder, PropEquity, said, “There is definitely solid demand for ready-to-move-in properties. We expect this festival season to do better than last year as developers are now offering lot of freebies and discounts to clear their earlier stock as well as selectively launching new projects. There is a lot of unsold inventory in the market which is nearing completion.

Source Link- http://www.thehindubusinessline.com/news/real-estate/homebuying-made-less-taxing-as-realtors-share-gst-burden/article9893209.ece

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