India, Sept. 6 -- The GST Council's move to reduce tax rates on key construction materials like cement, granite, and marble is expected to lower project costs for real estate developers and offer some relief to homebuyers. However, if you're planning to purchase an apartment this festive season, don't expect immediate price reductions, especially in ongoing projects, which are already in advanced stages of construction and material procurement.

In such cases, developers are more likely to offer festive discounts, flexible payment plans, or customised deals rather than outright price cuts, say experts.

That said, for new project launches, the benefits of the GST reductions will begin to reflect more directly. As fresh procurement cycles ...