New Delhi, Sept. 4 -- The central government's decision to reduce the Goods and Services Tax (GST) on cement and steel has been hailed as a game-changing move by leaders from the real estate industry.

According to them, the reduction will ease input costs, improve project viability, and give a major push to the housing and infrastructure sectors, especially affordable housing.

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa at CBRE, highlighted the cost impact of the move.

"With cement, steel, and other inputs typically accounting for nearly 40-45 per cent of total construction costs, this reduction will meaningfully lower project expenses. Developers can now pass on part of these savings to homebuyers,...