Residential properties having a carpet area of 60 square meters in metropolitan cities, 90 square meters in non-metropolitan cities, and have a value of up to Rs 45 lakh in both are included in affordable properties.
– A decreased cost of construction for developers – More transparency – Benefits for the rental market
– An increased cost of construction for buyers – Benefits for the buyers of affordable housing – Benefits for the buyers of non-affordable housing – Inclination towards constructed properties
The cost of construction for real estate developers decreased because of the introduction of GST as it subsumed multiple other taxes under the same tax.