Jalandhar: G.S.T. Some months have passed and the effect is visible in different sectors. In most sectors, currently GST There is hardly anyone showing any happiness. However, most people are suffering from GST Not by the government’s inadequacies in removing the chaos and complications of implementing it. Meanwhile, Rera Law has also had a wider effect on real estate. There are also complaints about some complications.
Effect of Demonetization and GST on Real Estate Business: According to recent reports, GST in real estate sector The government is contemplating to include it. On the other hand, the condition of most real estate markets can not be much better. According to experts, the business of small builders in the industry has almost quadrupled. Even some people have separated themselves from the business of the property and some are trying to shore away from this business. For example, property in Delhi has become extremely difficult to do. The first blockade killed the business after which GST The complications of those who made real estate business worse than the worse. In the capital of the country, about 40 percent of the land is illegal possession of the land. Colonies are unauthorized. Therefore, the registry is not meant to buy and sell most properties here. Since most are illegal, there is no point in going through a legitimate way. The rest of the land comes in the part of the government, in which about 16 to 17 percent of the space is left in whole Delhi. It is difficult to work in such a way.
Nothing left for small developers: G.S.T. After the implementation, it was believed that the value of Delhi’s property worth 2 crores will be reduced by 6 to 10 lakh rupees. Flats up to Rs 30 lakh will also be reduced by up to 5 percent. After the implementation of this, the developers will benefit greatly from partly but buyers. It was expected that in this area property will be benefited in the unauthorized colonies of Delhi, but things have become so clear that those who work on small scale in real estate can not save anything now. According to experts, in Delhi there is no room for small-scale devolvers. He told that the registry has now become mandatory and on the basis of which the price of the land and the loan is fixed. In such a situation, there are possibilities in this business only for big builders.
Read Also: GST Not Easy on Real Estate