New Delhi, Sept. 4 -- The real estate market is buzzing with fresh optimism as the Goods and Services Tax (GST) Council's latest rate cuts promise to make homes more affordable and projects more viable.
The 56th meeting of the GST council cut the GST on cement from 28 per cent to 18 per cent. This move is expected to bring down construction costs, improve housing affordability, and give a push to the infrastructure sector.
The Council has also approved a reduction of GST rates from 12 pc to 5 pc on labour-intensive goods such as handicrafts, marble, travertine and granite blocks.
Sharing the real estate perspective, Sammeer Pakvasa, Managing Director and CEO, Eleganz Interiors, said, " The GST rationalisation is a forward-looking reform ...