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GST Cut Make Flats Cheaper: The government has recently made a big cut in GST, due to which buying a house is now going to be cheaper and easier. Especially the tax on construction materials like cement, tiles, bricks, and stone has been reduced. Earlier these things were under the purview of 12% or 28% GST, now the tax on them has been reduced to 5% and 18%. This means that the cost of building a house will be reduced and the home buyers will directly benefit from this.
What do real estate developers say?
Officials of big companies believe that this step is very big for the entire sector. They say that the reduction in tax will reduce the cost of building a house, which will not only complete the real estate projects quickly, but will also provide relief in loan installments. This is a good news for home buyers during the festive season as the demand for houses often increases during festivals.
How cheap will it be to buy a house?
According to experts, this GST cut can reduce the total cost of the house by 3-5%. This means that lakhs of rupees can be saved on a house of ₹ 50 lakh or ₹ 1 crore. This saving will prove to be a big relief for home buyers. This change in GST will come into effect from 22 September 2025. After this, the prices of houses in the market will gradually come down.
The GST cut made by the government is a big gift for the middle class and common people. This will make the dream of a house cheaper and closer. In the next festivals, there may be an increase in the sale of new houses and people can easily buy their house. This change will give a boost to the real estate sector of the country and will also boost economic activities.
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