#RealtyNewsRoundup: GST Council Offers India's Developers 'Reasonable' Relief

The Goods and Services Tax (GST) Council on March 19 approved a transition plan for the implementation of new tax structure for housing units, Revenue Secretary A B Pandey said. Reasonable time for transition would be given to developers in consultation with states, he said. Developers of new projects would, however, have to offer the GST benefit to buyers starting April 1 only. The Council had in its last meeting on February 24 slashed tax rates for under-construction flats in affordable category to one per cent. GST rate on other categories was reduced to five per cent, effective April 1.

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The Delhi High Court on March 18 said forced and unannounced eviction of jhuggi dwellers was contrary to law and the authorities should ensure that the displaced people were immediately rehabilitated. The court said before carrying out an eviction drive, the authorities would have to conduct detailed survey, draw up a rehabilitation plan in consultation with the dwellers and ensure that after eviction they were immediately rehabilitated.

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The De Montfort University in Leicester (DMU) has tied up with Ahmedabad-based construction and infrastructure consultancy Pick Everard for its Square Mile India project to provide 50 new homes for the “Loving Community”. The community is populated by more than 430 residents, 40 of which are former leprosy sufferers.

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Hotel Leela Venture has sold its four hotels and a property to Canadian investment fund Brookfield Asset Management for Rs 3,950 crore. The four hotels are located at Bengaluru, Chennai, Delhi and Udaipur while the the property is in Agra. The developers will also transfer the Leela brand to Brookfield for all hospitality businesses.