GST on Real Estate 1 GST Council clears the proposal of lowering GST rates in real estate Council clears the proposal of levying 5 with out ITC for non affordable housing 1 without ITC for affordable housing Sources 2 Sources add that in terms of cost council decides to consider residential properties with cost of Rs 45 lakhs as affordable In terms of size 60 sqmts for metros 90 sqmts for non metros to be considered affordable housing Source

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GST on Real Estate 1. GST Council clears the proposal of lowering GST rates in real estate; Council clears the proposal of levying 5% with out ITC for non-affordable housing & 1% without ITC for affordable housing: Sources. 2. Sources add that in terms of cost, council decides to consider residential properties with cost of Rs 45 lakhs as affordable & In terms of size, 60 sqmts for metros & 90 sqmts for non-metros to be considered affordable housing. Source: https://www.bloombergquint.com/gst/gst-council-finance-minister-arun-jaitley-real-estate-sector-cement-proposals-tax-rate

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