Housing prices to go down as revised GST rates kick in
| Monday | 1st April, 2019
“Now consumers will have to pay Rs five lakh, instead of Rs 12 lakh as GST tax.
“On a Rs 10 lakh affordable flat, the consumer will have to pay Rs 10,000 instead of existing Rs 80,000.
However, the practice was not followed by the developers,” said a developer.Similarly, a consusmer purchasing a house falling under the affordable housing scheme category will be benefited immensely too.
The decision is expected to help the government steadfastly move towards achieving its target of ‘Housing for All 2022’.
The developers were asked not to charge GST from the consumers.
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