#RealtyNewsRoundUp: Don’t Burden Buyers Of Affordable Housing With GST: Govt To Builders

If the government diktat over the matter is dutifully followed, buyers in India will not have to pay the Goods and Services Tax (GST) on their property purchase. In a new directive issued to developers in the country, the finance ministry has said that they should not recover any GST from flats buyers. Since the effective GST rate on “almost all” affordable housing project is eight per cent which could be adjusted against the input credit, buyers should not be burdened with the tax, says the ministry.

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The Supreme Court has asked the Centre to apprise it of the "correct position" of dates of completion of the ongoing construction of eastern and western peripheral expressways, which are aimed at decongesting Delhi's traffic. The apex court made the observation after it was told about the "discrepancies" on the dates of completion of the construction work.

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Trial runs have begun on the over 10-km elevated stretch of the Majlis Park-Shiv Vihar corridor of the Delhi Metro, on which the new signalling technology, Communication-Based Train Control (CBTC), will be "rigorously tested". The 59-km corridor (Line 7) of the DMRC network, also known as the Pink Line, is part of the Phase-III project, and trial runs on its other stretches have also been conducted, starting last year.

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The Uttar Pradesh government is all set to introduce a Bill giving ancestral property rights to maiden grand-daughters who have lost their father. The Revenue Code (Amendment) Bill, 2018, will be tabled in the Budget Session of the Legislative Assembly that started on February 8.

Source: Media reports