look news india
News India Live, Digital Desk: A good news is coming for the common people dreaming of buying a real estate sector and a house. There is a preparation to bring GST 2.0 from the government, which is being seen as a big change for this sector. Experts believe that if this applies, it will not only provide relief to the builders, but it can also be cheaper to buy a house for home buyers.
Will GST 2.0 change?
Under the new GST system, only two or three slabs can be kept by finishing many slabs of tax. The biggest benefit can be provided by the tax cut on the goods used in the construction. Currently, there is up to 28% GST on essential things like cement, which can be reduced to 18%, which will reduce the cost of building a house, which can directly benefit buyers.
According to experts, the cost of construction can decrease by 3 to 5 percent. If the builders bring this benefit to the customers, then the prices of homes can also be seen to be seen.
Affordable houses will get boost
In the last few years, there has been a significant decline in the sales and supply of affordable houses up to Rs 40 lakh, a major reason for this was the cost of construction and the profit of the builders to be reduced. When cement, steel and other goods are cheap with the implementation of GST 2.0, building cheap houses can be beneficial again, this can increase the supply of affordable houses in the market and more and more people will be able to fulfill their dreams of being home.
This improvement is not only good for buyers, but it is expected to increase a new life in the entire real estate sector, with the easier tax system will increase transparency and the confidence of customers will also be strengthened.