{"id":4834,"date":"2019-05-01T11:50:39","date_gmt":"2019-05-01T11:50:39","guid":{"rendered":"https:\/\/www.waveestate.in\/blogs\/?p=4834"},"modified":"2019-05-01T12:03:55","modified_gmt":"2019-05-01T12:03:55","slug":"gst-plays-a-vital-role-on-changing-the-dynamics-of-residential-and-commercial-property","status":"publish","type":"post","link":"https:\/\/www.waveestate.in\/blogs\/gst-plays-a-vital-role-on-changing-the-dynamics-of-residential-and-commercial-property","title":{"rendered":"GST Plays a Vital Role on Changing the Dynamics of Residential and Commercial Property"},"content":{"rendered":"

Real estate industry known to be one of the most important pillars of the Indian economy, contributes between 6-8% to India\u2019s Gross Domestic Product. It is one of the most vibrant sector and stands second after IT industry in terms of employment generation. Realty market in India has been growing at a scorching pace over the years driven by the continuous demand of affordable housing, fancy apartments and lavish penthouses. The booming industrialisation and infrastructure development have led to an increased demand of commercial property too. GST has played a vital role in changing the entire dynamics of real estate industry. When GST<\/strong> entered into the picture, indirect taxation revamped completely. With multiple taxes levied previously like Service tax and VAT, the inclusion of GST in real estate increases transparency in the sector. With the announcement of latest amendment, GST prices<\/strong> cut down to 5% from 16% increases the bandwidth of the buyers and end users.<\/span><\/p>\n

The Council also expanded the definition of affordable housing<\/strong> for the purpose of availing of GST benefits<\/strong>, to those flats costing up to Rs 45 lakhs and measuring 60 sq metres carpet area in metros (Delhi-NCR, Bengaluru, Chennai, Hyderabad, Mumbai-MMR and Kolkata) and 90 sq metres carpet area in non-metros. Apart from affordable housing, more people are showcasing their interest in buying property, flats and houses as they consider it the best time to invest. Mohali has emerged as one of the most host selling destination due to its hosts of benefits. It is a beautiful, green and pollution free city and this is the biggest factor that people want to buy homes there.<\/span><\/p>\n

Wave Estate<\/strong> is a state of the art project in Mohali<\/strong> which is an amazing blend of residential and commercial property. Sprawling across 300 acres, it features world class amenities such as luxury villas<\/strong>, plots<\/strong>, appealing floors<\/strong> and lush housing condominiums; the township offers you a splendid living experience. Located picturesquely at the foothills of majestic shivalik range, Wave Estate offers a breath taking view. In at the heart of Mohali in Sector 85 & 99, the Wave Estate attracts a huge traction.<\/span><\/p>\n

Wave Estate<\/strong> is gated community with a spectacular collection of contemporary villas, plots, Premium group Housing, Independent Floors<\/strong>, SCO\u2019s, commercial areas, community centres, Primary & secondary schools, daily need shops and much more. High profile commercial spaces<\/strong> will give Wave Estate a high street air. \u00a0You get all the facilities in vicinity be it education, sports, entertainment, shopping, healthcare and fitness within a meandering backdrop of green landscapes and parks. It is the best time to invest in this property due to the cut down of the GST prices on residential and commercial spaces. <\/strong>It is envisaged to reap in tonnes in near future, moreover it offers a splendid living to all the residents.<\/span><\/p>\n

Image Source: Shutterstock<\/p>\n

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Real estate industry known to be one of the most […]<\/p>\n","protected":false},"author":1,"featured_media":4836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[38],"tags":[143,144],"class_list":["post-4834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-industry","tag-affordable-housing","tag-gst-prices","has-post-title","has-post-date","has-post-category","no-post-tag","has-post-comment","no-post-author"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t