Special Offer!

“Lower GST, lower costs – real relief for India’s homebuyers.”

CREDAI Promises to Pass GST Cuts to Homebuyers, Enhancing Affordability in Smaller Cities.                                                                                                                 

Real estate body CREDAI has assured that recent GST rate cuts on construction materials like cement, steel, and tiles will be passed on to homebuyers, helping reduce property costs, especially in tier-2 and tier-3 cities. Speaking at NATCON in Singapore, CREDAI chairman Boman Irani said the extent of price reduction will depend on how quickly suppliers reflect these tax cuts in material costs. While the benefits may be more visible in smaller cities where construction costs dominate, metros like Mumbai are expected to see limited impact due to high land prices. Irani highlighted that high stamp duty remains a challenge, adding to buyer costs despite GST relief. CREDAI also stressed that real estate continues to be a hedge against inflation, ensuring long-term wealth creation. According to CREDAI president Shekhar Patel, the GST cuts have already boosted buyer sentiment, driving more inquiries and strengthening demand in the mid-segment housing market.