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

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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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CREDAI seeks bank funding for developers to buy land for affordable housing projects. gst act, DEA Notification dated 14.11.2017, Ministry of Housing and Urban Affairs in respect of CLSS and. New Delhi, Jun 16 Realtors apex body CREDAI in its budget wish list has demanded that banks should fund developers to buy land for development of.

The bank would put the money in an escrow, so it is kind of safe," Jasuja says. In many cases, buyers aren’t willing to pay the 12 per cent GST and want the developer to absorb it. Many builders.

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Land funding is typically done by NBFCs or private equities, it said, but added that cost to developers are as high as 25 pc. CREDAI seeks bank funding for developers to buy land for affordable.

CREDAI seeks bank funding for developers to buy land for affordable housing projects realtors body naredco has demanded a boost to rental housing in the upcoming budget from the government through incentives like 10-year tax holiday to real estate developers on profit earned from the business.

After the RERA/GST implementations in Q1FY18, developers have tweaked their product offering to include more affordable and mid-income housing projects because that is where the demand lies. Business Standard. CREDAI seeks bank funding for developers to buy land for affordable housing projects.