GST cut on housing sales 'revolutionary step', to boost sentiments: Experts

Property developers and consultants Sunday hailed the GST reduction on housing sales and termed the move as a "revolutionary step", saying it will boost sentiments and help the cash-starved sector in clearing around 6 lakh unsold homes
Anshuman Magazine, Chairman & CEO, India, South East Asia, Middle East & Africa, CBRE, said: "This is a huge relief for home buyers and the developers alike. The reduction in GST on under construction residential projects will further give much-needed boost to the industry."
CREDAI NCR President Pankaj Bajaj said, "It is a great relief for both the real estate industry and the home buyer. There is no incentive to postpone the home buying decision anymore."

PD Sundar, Business Head, Quikr Realty, said: "This is a win-win development for both builders and home buyers given that the real estate sector has gone through a relatively tough period over the last couple of years."
Gulshan Homz Director Deepak Kapoor said: We can expect demand going up soon for under construction projects."