The Goods and Services Tax (GST) has adversely affected the already sluggish realty sector owing to the 12% tax rate, experts have said. The scepticism has dealt another blow to the real estate sector. “The real estate prices are already high and the GST has only increase the rates further,” said Mitesh Gala, a teacher who is working in a leading school in Mumbai. The real estate sector in the last few years has been going through slowdown owing to the unaffordable rates, a slew of regulations and high interest rates on home loans. READNew act likely to prolong slowdown in the realty sectorMumbai’s realty sector hit by worst sales in 7 yrs

Source: Hindustan Times August 12, 2017 19:18 UTC