Real estate firms pin hope on GST rate cut to end six years of struggle

Experts said prices of homes could go down by as much as Rs 3 lakh under the proposed tax regime

With Prime Minister Narendra Modi reiterating his plan to bring down the goods and services tax (GST) for under-construction and finished houses to 5 per cent, the real estate firms believe 2019 could be the turnaround year for the industry that has been suffering for the past six years. 

In an interview to news agency ANI on Tuesday, Modi indicated that the government wanted to bring under-construction and finished houses under the GST rate slab of 5 per cent. “We wanted to do that. But there were reservations. So, the GST Council could not do it. It has now gone