Chennai, Sept. 4 -- CBRE Chairman and CEO-India, South-East Asia, MiddleEast and Africa, Anshuman Magazine today said the reduction of GST rates oncement and construction materials is a decisive step that provides much-neededrelief to the real estate sector.
Reacting to the rate cuts announced by union Finance Minister Ms Nirmala Sitharaman,he said with cement, steel, and other inputs typically accounting for nearly 40-45% oftotal construction costs, this reduction will meaningfully lower project expenses.
Developers can now pass on part of these savings to homebuyers, improving affordabilityand stimulating demand across segments, he said.
This timely reform comes as a festive season boost, creating the right conditions tospur homebuyer ...