Delhi NCR, Sept. 8 -- The GST Council has rationalised tax rates into a simplified two-slab structure of 5% and 18%. Among the most impactful changes is the reduction of GST on cement from 28% to 18%, a move expected to significantly lower project costs and drive growth in real estate. The Council has also reduced GST on marble and travertine blocks, granite blocks, sand-lime bricks, and stone inlay work from 12% to 5%, further easing input costs for developers.

Industry experts highlight that the affordable housing segment will be the biggest beneficiary, as developers can pass on reduced construction expenses to homebuyers. The decision has been widely welcomed across the real estate fraternity, with builders calling it a progressive ...