New Delhi, Feb. 25 -- The GST rates cut is intended to give a boost to the real estate sector

The slash in GST rates to 5% without ITC from the previous 12% with ITC for premium homes, and to 1% minus ITC for affordable homes from the earlier 8%, gives the beleaguered realty sector the much-needed breathing room and will certainly help it maintain some forward momentum in 2019. Another booster shot given by the government is changing the very definition of the budget-range of affordable housing.

Extending the definition to housing priced within Rs 45 lakh is credible. It will make more properties from the premium budget fall into the affordable segment category, and thus benefit buyers in cities like MMR where property prices are exorbi...