In a recent development, Credai has urged the government to exempt FSI (Floor Space Index) charges from GST. This move, if implemented, could significantly impact the housing market, benefiting both developers and homebuyers alike.
GstFsiReal EstateHousing MarketCredaiReal Estate NewsDec 20, 2024
FSI, or Floor Space Index, is a metric used by urban planning authorities to determine the maximum permissible floor area that can be built on a plot of land. It helps control the density of development in urban areas.
Credai believes that exempting GST on FSI charges would reduce the financial burden on developers, making properties more affordable for homebuyers and stimulating the housing market.
The exemption of GST on FSI charges could lead to lower property prices, increased demand, economic growth, and better urban development.
One of the main challenges is the potential revenue shortfall for the government, as GST on FSI charges is a source of revenue. However, Credai argues that increased economic activity and job creation could offset this loss.
Credai, representing over 8,000 real estate developers across India, has highlighted the benefits of exempting GST on FSI charges and is advocating for the government to accept the proposal.
Yudhishthir Sharma, a resident of Didwana, has been appointed as a judicial member of the Rajasthan Real Estate Appellate Tribunal, Jaipur, for a term of 5 years.
GST rate cuts on cancer drugs, exemptions on electricity meter services, and adjustments for the real estate sector are expected.
The recent interest rate cuts have failed to boost the Kelowna housing market, leaving many wondering what's behind the unexpected stagnation.
Macrotech Developers (Lodha Group) has reported its highest-ever quarterly pre-sales of Rs 4,290 crore during the third quarter of the financial year 2025 (FY25).
Mumbai real estate update: Popular playback singer Jubin Nautiyal has made a significant investment by purchasing a sea-facing 4 BHK apartment in the prestigious Raheja Exotica building located in Madh Island, Mumbai.
The community of Santa Cruz, led by petitioner Arturo D'Souza, is raising a firm warning to real estate developers who are eyeing the Bondvol Lake area. The villagers are determined to protect the natural beauty and ecological significance of the lake.