Affordable housing to become cheaper once GST kicks in on July 1

Luxury property prices might go up marginally

The government’s initiative in providing housing for all is set to get yet another boost, as affordable housing is set to be cheaper under the new tax regime. However prices of luxury properties and those being constructed in prime locations where land rates are high, might just go up after goods and service tax (GST) kicks in.

In the run up to launching of the new tax regime, the government has levied 18 per cent GST on two-thirds of the value of the property, which will effectively bring the rate down to 12 per cent when calculated on the