Opinion/Redefinition of affordable housing, GST rate cut can boost real estate.
Dear all,
Your association SIMA is forwarding herewith an article on Opinion Redefinition of affordable housing, GST rate cut can boost real estate dated 29th July 2019. The copy is enclosed herewith.
Homebuyers are inundated with good news. Earlier this month, the budget proposed an additional deduction of ₹1.5 lakh on Interest paid on loans for affordable housing priced up to ₹45 lakh. Last week, the State Bank of India reduced its marginal cost of Lending rate (MCLR) by 5 basis points across all tenures. By themselves, both measures are likely to have a limited impact. The additional deduction may not get fully utilized and the rate cut by SBI is marginal at best. However, if these benefits are combined with an earlier change in GST rules, the pressure on the buyer’s pocket could ease significantly.
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This is for your kind information.
Thanking you
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
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