Скачать или смотреть Impact of GST on real estate

Magicbricks in discussion with Manas Joshi, Director, Proficient Partners Consultants Pvt Ltd., who shares his views on Impact of GST on real estate.
Key points discussed
1. Although GST has been framed to abolish multiple taxation system, real estate is the only sector where the consumer will have to pay stamp duty apart from the unified tax.
2. For the under-construction properties in the low or medium segment, GST will see price correction of 5% in a year or so.
3. If you want to buy a property, buy it right now. 5% reduction in house prices should not hold a property transaction.
4. If one waits to prices to come down post-GST, in the meantime land prices of the same property would also go up.
5. GST not applicable to affordable housing under PMAY.
6. Post-GST, luxury segment prices may go up by 5-7%.
7. GST impact on the real estate to be visible in the medium to long term.