India, Sept. 12 -- Credai, a real estate developers' body, has promised to pass on savings from recent GST rate cuts on construction materials to homebuyers, saying the reduced tax burden should translate into lower property costs, particularly in smaller cities.

CREDAI, a real estate developers' body, has assured that it will pass on savings from recent GST rate cuts on construction materials to homebuyers, saying the reduced tax burden should help lower property costs, especially in smaller cities.

"We are still evaluating how much of the cost benefit can be passed on. But, we will pass it to the buyers, so if the end price is less, then the GST will be less, and the stamp duty will be less," Boman Irani, chairman of CREDAI, told HT.c...