GST will reduces the cost of Lands, properties

     Written by : SMTV24x7 | Tue, Jun 20, 2017, 05:55 PM

GST will reduces the cost of Lands, properties

Andhra Pradesh, Vijayawada, June 20: As we know that The Andhra Pradesh Chief Minister has launched Urban Housing scheme in Vijayawada here on Monday.

On this occasion, The Union Minister for Housing, Urban Poverty Alleviation M. Venkaiah Naidu said the Goods and Services Tax (GST) would bring down the cost of land and the property prices which would help millions in realizing the dream of owning a house.

He said the builders should deliver what they promised at the time of marketing their inventory lest they should attract penal action under the Real Estate Regulation Act (RERA).

"The Central government is going to strictly implement the RERA. The builders can no longer take the buyers for a ride.",he said.

Speaking from Delhi through video-link after Chief Minister N. Chandrababu Naidu remotely laid the foundation for the construction of 1,93,000 pre-fabricated houses in 38 Urban Local Bodies (ULBs) under the 'Pradhan Mantri Awas Yojana (PMAY)-NTR Nagar' scheme in the city.

Mr. Venkaiah Naidu said the slew of tax incentives announced in the Budget, allowance of foreign direct investment through the automatic route and conferring of infrastructure status on affordable housing gave a fillip to the real estate sector.