#RealtyNewsRoundUp: Ministerial Panel To Suggest Easier GST Norms For Realty
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The government has formed a ministerial panel, headed by Gujarat Deputy Chief Minister Nitin Patel, to explore the possibility of tweaking the Goods and Services Tax law to extend greater benefit to the residential real estate sector. A proposal to levy a uniform five per cent levy on the real estate sector under the new tax regime was earlier found unviable and rejected.
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The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has ordered the forensic audit of Concept Horizon Infra over suspicions of siphoning off funds collected from homebuyers for its project in Greater Noida, Orizzonte. The project was launched in 2013.
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Adani Realty, the real estate subsidiary of business conglomerate Adani Group, has entered Pune, with a luxury housing project. The company plans to build its Atelier Greens project at Koregaon Park, in which flats, 256 in total, would be priced starting Rs 1.5 crore.
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Even as 10 per cent of the villagers displaced by the project have yet to vacate the area, Maharashtra Chief Minister Devendra Fadnavis has said the Navi Mumbai Airport would be ready by mid-2020. The earlier deadline for the airport project was set for 2019.
Source: Media reports