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The Confederation of Real Estate Developers’ Associations of India (CREDAI) has expressed deep concerns over the government’s proposal to impose an 18% Goods and Services Tax (GST) on Floor Space Index (FSI) and additional FSI premiums. This move, slated for discussion at the upcoming GST Council meeting, is feared to significantly impact affordable housing and drive up property costs.
The Confederation of Real Estate Developers Association of India (CREDAI) has appealed for revision in GST for affordable housing. In a memorandum presented by Gugan Illango, president of CREDAI, Coimbatore, to Union Finance Minister Nirmala Sitharaman, the association said the…
The civic body now has decided to sell all its newly constructed properties on sale deeds instead of auctioning it on a 99-year lease. This is to avoid paying 18% goods and services tax GST on the auction of properties…
The Centre must not charge GST on free housing in the Mumbai Metropolitan Region, said housing industry representative body CREDAI – MCHI. Industry representatives, in a meeting with union Finance minister Nirmala Sitharaman, said the flats to existing occupants/ slum…