From1st of July , Housing price are likely to fall by up to 5% following the implementation of goods and services tax (GST) after the Centre and states decided to peg the levy at 12% on finished houses or apartments.
Apartment owners should be ready to pay 2.5 percent more tax on maintenance charges. As of now, the tax levied is levied at 15.55 percent on maintenance charges, which will be replaced with 18 percent after the GST is rolled out.
Following the implementation of good and service tax (GST), housing price are likely to fall by up to 5% after the state and centers decided to peg the levy at 12% on finished houses or apartments.