PHD Chamber Of Commerce And Industry Insist GST Council For Reduction Of GST Slab To 5%

Fix GST at 5% & Rationalize Stamp Duty, Land Rates for Affordable Housing Urges PHD Chamber. An effort towards providing housing for all.

At the National Affordable Housing Summit-2018 held under aegis of PHD Chamber of Commerce and Industry, PHD Chamber appealed the GST Council to consider further reduction of GST at a slab of 5% from the existing 8% for affordable housing. The prevailing 8% tax will for affordable housing would to some degree defeat efforts towards providing housing for all by 2022. It is important to curtail the tax slab at 5% slab, urged the Chamber. States should seriously deliberate to further rationalize the Stamp Duty, especially for real estate developers engaged in affordable housing schemes so that such houses really becomes “Affordable” in real sense.

D K Aggarwal, The Chamber’s Vice President, argued that “land parcels” should be identified within the periphery of large towns for making affordable houses with considerably subsidies by government concern for those builders that are wanting to build affordable housing units.

The affordable housing scheme has picked up a fair momentum and requires acceleration which can only be attained through multipronged strategies. This would require reduced rates of land, fair amount of stamp duty and further rationalised GST slab among others to work efficiently.

Notables who  were present on the occasion comprised Chief Operating Officer, Strategic Consulting, India & Sri Lanka, JLL India, Mr. A Shankar; Co-Chairmen, Housing and Urban Development Committee, PHD Chamber, Anuj K Khanna and Pyush Lohia along with its Principal Director, Ranjeet Mehta.

Source: PHD Chamber

About Surfaces Reporter

Surfaces Reporter is India’s 1st magazine specialized on “products & materials” for architecture & Interiors! The prime objective of Surfaces Reporter magazine is to contribute positively to the Indian material industry, with unbiased information & awareness initiatives.

Surfaces Reporter magazine has a clear & niche target group comprising of Architects, Engineers, Builders, Interior Designers, Manufacturers, Celebrities, Showrooms, Consultancy firms, and Leading Business houses, Hotels & Restaurants, and PMCs etc. If you have a Product or Project worth publishing in Surfaces Reporter, please email us hello@surfacesreporter.com or you can also submit your project online.

Like Surfaces Reporter on Facebook | Follow us on Twitter and Instagram | Subscribe to our magazine | Sign Up for the FREE Surfaces Reporter Magazine Newsletter

Post Your Comment




top stories

Massimo Iosa Ghini is an Italian architect, designer and professor known for pioneering the Bolidist Movement in the 1980s

10-on-10 with Massimo Iosa Ghini, Founder, Iosa Ghini Associati, Italy

Massimo Iosa Ghini is an Italian architect, designer and professor known for pioneering the Bolidist Movement in the 198...

Colours, shades and tints do play a pivotal role in projecting any scenario and when it comes to bathrooms, well elegance in colour technique matters to most.

12 Shades of Bathroom Trends

Colours, shades and tints do play a pivotal role in projecting any scenario and when it comes to bathrooms, well eleganc...

With burgeoning fire incidences in our country and the associated damage of properties and human loss, it is high time that the stakeholders of the industry congregate aiming at deciding preventive strategies, align to Fire Safety norms and offer their concerted opinions towards finding solutions to

#BeatTheFire by Aludecor Sets The Tone To Address Fire Safety Norms in Mumbai

With burgeoning fire incidences in our country and the associated damage of properties and human loss, it is high time t...

More Stories