+
Goa CM: Ministers Back Minimal GST on Housing
ECONOMY & POLICY

Goa CM: Ministers Back Minimal GST on Housing

Goa Chief Minister Pramod Sawant revealed that a Group of Ministers has advocated for a bare minimum Goods and Services Tax (GST) on housing projects. This recommendation aims to enhance housing affordability, making it easier for homebuyers to purchase properties across India. The proposal is being considered to provide relief to the real estate sector, which has faced challenges from rising costs and slowed demand in certain areas.

The Group of Ministers, formed to review taxation policies related to the housing sector, is reportedly in favor of lowering GST rates to stimulate growth in the residential property market. Lower taxes could not only attract more homebuyers but also encourage developers to expedite project completions.

The real estate industry has been lobbying for a reduction in GST rates on under-construction properties, which are currently taxed at higher rates than ready-to-move-in homes. By reducing GST, the government aims to make housing more affordable and accessible to middle-income and first-time homebuyers.

This potential policy change reflects the government?s broader efforts to support the real estate sector and meet its housing for all objectives. A final decision on the matter is expected after further deliberations with stakeholders.

Goa Chief Minister Pramod Sawant revealed that a Group of Ministers has advocated for a bare minimum Goods and Services Tax (GST) on housing projects. This recommendation aims to enhance housing affordability, making it easier for homebuyers to purchase properties across India. The proposal is being considered to provide relief to the real estate sector, which has faced challenges from rising costs and slowed demand in certain areas. The Group of Ministers, formed to review taxation policies related to the housing sector, is reportedly in favor of lowering GST rates to stimulate growth in the residential property market. Lower taxes could not only attract more homebuyers but also encourage developers to expedite project completions. The real estate industry has been lobbying for a reduction in GST rates on under-construction properties, which are currently taxed at higher rates than ready-to-move-in homes. By reducing GST, the government aims to make housing more affordable and accessible to middle-income and first-time homebuyers. This potential policy change reflects the government?s broader efforts to support the real estate sector and meet its housing for all objectives. A final decision on the matter is expected after further deliberations with stakeholders.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code