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The benefits of investing in under-construction properties will outweigh the benefits of investing in ready-to-move-in homes under the new Goods and Services Tax (GST) regime. The actual GST rate on under-construction properties is 18 per cent. However, the effective tax on such properties would be 12 per cent as under the new regime developers will be allowed input tax credits.

Landlords, too, have nothing to worry about GST on rent. Those who are earning a rental income by letting out their properties for residential use will not be taxed under the GST. However, those who have given their premises on rent to be used for commercial or industrial purposes will have to pay an 18 per cent tax in case they are earning over Rs. 20 lakh annually. Rental income received from residential house is exempt.

Will ready-to-move-in homes cost more?

The option of getting full input set-off credit that developers enjoy on under-construction projects would not be applicable on ready-to-move-in flats. This could effectively mean higher costs for home-buyers of ready-to-move-in flats, say developers. While developers might still get some benefits for projects that are in nascent stages, they will have to bear the tax burden for the ready-to-move-in projects since they are kept out of the GST ambit.

Meanwhile, the government has told developers to pass on any benefits that they may avail under the new tax regime to the home-buyers. The builders are expected to pass on the benefits of lower tax burden under the GST regime to the buyers of property by way of reduced prices/installments. It is advised to all builders/construction companies that in the flats under construction, they should not ask customers to pay a higher tax rate on installments to be received after imposition of GST.

This is good news for anyone thinking of buying a new home.

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Unlike other states, in UP, the builders can register their projects on the site and instantly get a RERA registration number. Several clauses pertaining to action against builders for non-compliance have been diluted in this format.

Builders can register on the site and then advertise their upcoming projects. The Confederation of Real Estate Developers Association (CREDAI) expressed great relief with the launch of online RERA registration platform.

Unlike other states, in UP, the builders can register their projects on the site and instantly get a RERA registration number. This bodes well for all those builders who were not being able to advertise their upcoming projects in the media as the Act prevented any non-RERA project to be sold in the state. The builders now have until July 31st to register their existing projects. A grace of a few days is being expected for everyone to come on table with the Uttar Pradesh Real Estate Regulatory Act (UP-RERA). This comes as a huge relief and the instant registration number is a great feature. So builders can today itself register their project and then advertise their upcoming projects.

With this all projects stand on sound legal footing and nothing threatens ownership of dream houses in any part of UP. This also ensures peace of mind especially when you move into Greater NOIDA and its prime project called THE HEMISPHERE.

The Hemisphere is poised to add premium sheen to it with its golf themed living splendor. We are proud to present to you The Hemisphere, fine luxury villa living, spread over a 100 acre site. Nestled in the City Centre of Greater Noida, The Hemisphere boasts of an advantageous location. The private residences of this exclusive community encircle a 9-hole golf course and other equally lavish lifestyle features.

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A life well lived needs to be elevated to an exquisite living style. Where your passions flow and immerse in the playground of life. Each action enhanced to a 360 o vision. Of a life of living luxury with every amenity & facility conceivable at hand. Yet tightly embraced in greens. A placid certitude of sustainable living ensuring peace of mind-always!

Your search leads to Greater Noida villas. Where connectivity reaches out to bring the Capital and NCR closer. Greens bloom and Pollution stays away. A planned sub city of ample spaces that allows a life you choose. And then settle yourself in a luxury villa in Greater Noida.

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