gst on real state and builder

The new tax rate of 1% for affordable houses and 5% for others, without ITC, will apply on all new projects.

A residential house/flat of carpet area of up to 90 sqm in non-metropolitan cities/towns and 60 sqm in metropolitan cities having value up to Rs. 45 lakh (both for metropolitan and non-metropolitan cities) has been categorized as affordable housing.

Metropolitan cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (whole of MMR)