GST: CREDAI seeks bank funding for developers to buy land for affordable housing projects – GST Station

Morning Shanghai Combine some of Shanghai’s highlights in this time-saving half-day tour for those who are short on time or want a free afternoon. Spend the morning visiting the Nanjing Road Pedestrian Street, the Bund, the Confucius Temple, Yu Garden, and experience a classic Chinese Tea Ceremony.

Union Budget 2019: CREDAI seeks bank funding for developers to buy land for affordable housing projects.. union budget 2019: property consultant Anarock demands industry status for real estate sector, more bank funds, ITC benefit in GST.

NEW DELHI: Realtors apex body CREDAI in its budget wish list has demanded that banks should fund developers to buy land for development of affordable housing projects. It has also stated that the definition of affordable housing should be same across all the legislations. "Land as a value of the project cost, comprises 40 per cent of the overall project cost.

Read more about ‘Developers need finance to buy land for affordable housing projects’ on Business Standard. Government should facilitate finance to acquire land for affordable housing projects by real estate developers, Confederation of Real Estate Developers’ Association in India (CREDAI) President Jaxay Shah said on Wednesday.

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CREDAI seeks bank funding for developers to buy land for affordable housing projects Description: Under the CLSS, affordable housing comprises units with a carpet area not exceeding 60 square metres within the cities of Chennai, Delhi, Kolkata and Mumbai, and 120 square metres elsewhere.

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These loans can be availed by the SMEs to fund their day-to-day operations, expand their business, purchase new equipment, etc.. For microenterprises seeking a loan of up to Rs.5 lakh, MSEs owned and operated by women, and loans in the North-Eastern region, guarantee cover of up to 80% will be provided.. A GST rate of 18% will be.

 · Right now, prospective home-buyers have to pay a 12 per cent GST to developers if they are planning to buy a property which is under construction. However, there is no GST on the fully constructed property. Greater transparency However, RV Verma, former Chairman of the National Housing Bank, has a different take on the GST.