How Is RERA Going To Impact Real Estate Buyers?

How Is RERA Going To Impact Real Estate Buyers?

What Is RERA (Real Estate Regulatory Act) The Real Estate (Regulation and Development) Act is an act passed by the Indian Parliament. The RERA seeks to protect the interests of home buyers and also boost investments in the real estate sector. The Rajya Sabha passes the RERA bill followed by Lok Sabha and then comes into force. Under the ACT, the central and state governments are required to notify their own rules, on the basis of the model rules framed. For long, home buyers have complained that real estate transactions were lopsided and heavily in favor of the developers. RERA…

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Everything You Need To Know About The New GST Rate To Be Applicable From April

Everything You Need To Know About The New GST Rate To Be Applicable From April

Real estate developers with unsold housing inventories can now choose either the old rate or the new one if the project is still under construction on March 31st. This option was given on Tuesday at the Goods and services Tax Council meeting. The decision cleared the air on possible loss in input-tax credit that is underway if realtors choose the new rate structure. The council approved a formula, which will determine the extent to which tax credit can be claimed on purchases for constructions and 15% commercial space as a residential property of new rate structure. “Developers will get minimum…

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