The Confederation of Real Estate Developers' Associations of India (CREDAI) has strongly opposed the central government's proposal to impose an 18% GST on chargeable Floor Space Index (FSI), warning that it could lead to a significant rise in housing prices and adversely affect the real estate sector.
Currently, local authorities grant chargeable FSI for construction projects, with developers purchasing additional FSI by paying for it via Transferable Development Rights (TDR). However, the central government's recent proposal to impose 18% GST on this
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HOUSING PRICES MAY RISE 10%
Ahmedabad Mirror
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