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Indian Real Estate is Booming with the Impact of New GST Rates

November 15, 2019 | Admin

Indian Real Estate is Booming with the Impact of New GST Rates

Credit-Linked Subsidy Scheme, RERA, GST and Pradhan Mantri Awas Yojana are the major policies and schemes introduced by the Indian government in recent years. These schemes have brought revolutionary changes in the real estate and now the trust of buyers and investors has been increased in the property market.

New GST rates have offered the developers the choice to choose between old tax rates and new ones. Now they can introduce the one they wish in their under-construction residential projects. These new policies are providing them with the benefits of input tax credits.

The previous tax credit which was calculated with ITC has been reduced up to 7 percent and now it has summarised without ITC. This massive deduction has also provided indirect benefits to the buyers looking for affordable housing and now they can also enjoy a downfall of 7 percent in the current tax credits.

Buyers who are going to buy properties after 1st April 2019 can avail these benefits whereas those who have already existed with the purchase before this period cannot avail these deductions. The concentration of government is mainly on the reformations and their target is to provide every buyer with his desired dream home. New rules and acts are simply better and are proving effective and impressive for luxury seekers, normal budget buyers and families who are still away from their dream homes.

In cities like Bangalore, home seekers are now finding the house of dreams and feeling more relaxed and comfortable as they are now going to join the sophisticated families in the extremely advanced urban surroundings.

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Proving as the best in all tests and expectations, the ultra-luxurious Assetz 38 and Banyan is a superior destination for high-life experience in Bangalore. Established in CV Raman Nagar, the project is offering impeccable, incredible and outstanding 3 and 4 BHK apartments. Available in whopping sizes, their unit areas varying from 2660 sq. ft. to 3695 sq. ft. The complex is enriched with premium comforts, high luxuries and lifestyle amenities.

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