Impact of RERA and GST on Construction Sector
Author(s):
Priyanka S. Pawar, Dhananjay S. Patil
Keywords:
RERA, GST, Impact, Construction Sector, Real Estate Market.
Abstract
The real estate industry serves as a catch-all for addressing a nation's housing and infrastructural needs. It significantly improves five sub-divisions, including dwellings, infrastructure, shopping, lodging, and business. As a common practice across the nation, the real estate industry lacked professionalism, uniformity, and consumer protection. A new era in the Indian real estate industry has been assured with the introduction of the Real Estate Regulator Bill (RERA), which was approved by the Indian Parliament in March 2016. This measure, which was approved by the Indian parliament, creates a more open, accountable, and reliable framework for the construction industry, with a primary focus on the real estate market for selling and buying homes. The newly implemented Goods and Services Tax (GST) also introduced tremendous changes in the Real Estate Market. This made Real Estate Market slow in its Initial Stages which left Builders and Contractors to stay away from the Business for a particular period of time, to confront themselves with the new laws and the new taxation system.
Article Details
Unique Paper ID: 161245

Publication Volume & Issue: Volume 10, Issue 3

Page(s): 49 - 53
Article Preview & Download


Share This Article

Join our RMS

Conference Alert

NCSEM 2024

National Conference on Sustainable Engineering and Management - 2024

Last Date: 15th March 2024

Call For Paper

Volume 10 Issue 10

Last Date for paper submitting for March Issue is 25 June 2024

About Us

IJIRT.org enables door in research by providing high quality research articles in open access market.

Send us any query related to your research on editor@ijirt.org

Social Media

Google Verified Reviews