Real Estate Regulatory Act Good and Service Tax

• The main stakeholders who are impacted by this act are • Reduction of GST on residential houses which include
Builders, Brokers and Buyers • Affordable Houses – 8% to 1%
• Builders- • Non affordable houses- 12% to 5%
• Register all properties above 500 sq. mts. • Increase in transparency and foreign investments
• Property to sold on basis of carpet area
• Any new project need to be licensed by RERA
• Brokers-
• Brokers have to register themselves and get a license
• Provide complete and accurate information to buyers
• Buyers-
• Regulatory bodies in each state
• Developers have to pay interest in case of delay