Finance Minister Arun Jaitley has decided to encourage the real estate sector by reducing the GST. Yes, it is election time. The central Government has been reducing the GST one after the other on various items. The NDA government knows that it has lost 3 states due to the GST factor and now there is no other way but to reduce the GST. This is good news for the builders and also the buyers of the houses. The GST has been reduced from 12 to 5 percent on the ongoing Constructions. This is very good news for the builders and the real estate sector.
The buyers have got better news than that of the builders. The GST was 8 per cent on the customers that are the purchasers. It has been reduced to just one per cent. So both the builders and the buyers should be happy about it.
The central government under NDA is of the opinion that everyone should have a roof over their head. That is the majority of the population especially the poor and the middle class must have a house. This will give a big boost to the real estate sector the realtors believe.
