GST boosting the affordable housing markets serves as a boon for multiple buyers
On advent of the new GST era, the prices in the housing markets have seen a significant decline given the higher taxation rates. With such opportunities in the housing sector, tenants continue to fill out the vacant inventories.
Among many price hikes, a jovial atmosphere was setup in the housing market for the buyers. The affordable housing prices decreased to a significant extent with regards to the vacancies in most multi-storied projects.
The taxation process has classified different categories as the means for setting up the rates. Projects in construction will be charge at separate rates in comparison to the projects which have been completed and ready for use. Considering the previous 9% rate, the GST might bamboozle the buyers by introducing the 12% mark for the housing market. However, the different is hardly significant due to ample vacancies in the upcoming projects.
Most buyers have started approaching the building communities for early registration. This would enable the tenants to serve a good rent in the name of GST provided the condition of the market remains stable. Of all the times, this seems as a good opportunity to buy a house and secure it for the future. However, with no guarantees established by the investors on these projects some might think of it as a risky gamble.
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