NAREDCO reports that the new GST rates are easing burdens on real estate. The timing during the festive season is important. This move boosts consumer confidence and creates new demand. It will help the economy, support buyers, and encourage developers.
NAREDCO President G Hari Babu stated this. GST on cement and steel for construction fell to 18%. Previously, it was 28%. This change benefits buyers, the real estate market, and national growth.
Lower GST on key materials like cement and steel will cut costs. Projects will become more practical and finish quicker. Affordable housing will see the biggest gains. Builders can pass savings to buyers.
This plan makes homes more reachable. It also aids the government’s goal of housing for everyone. The entire housing and building industry will profit from this change. It is a smart step for long-term economic growth.
This reform boosts spending power. It also spurs buying and helps control prices. This creates a ripple effect. It can push India’s GDP growth past eight percent.
Such financial support shows our economy’s strength. It builds trust in India’s growth path during global worries.