#RealtyNewsRoundup: GST Council Defers Decision On Real Estate Tax Cut
Description
The Goods and Services Tax (GST) council on February 20 deferred a decision to reduce the effective rate on the housing sector. The council will now take up the matter on February 24. A ministerial panel had earlier suggested rates be brought down for the sector in order to make housing cheaper for consumers.
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Sub-registrar offices across the state of Tamil Nadu have gone cashless from February 18. These offices will also be able provide people video recordings of the proceedings as CCTVs have been installed in the premises, a move that is likely to bring more transparency in the process.
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The Cabinet Committee on Economic Affairs (CCEA) on February 19 approved the plan to build a Delhi-Ghaziabad-Meerut speed rail corridor. Apart from connecting the national capital with several districts in western Uttar Pradesh, the corridor would also bring down traffic congestion.
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Saudi Arabia’s business council wants India to allow foreign ownership in its real estate and allow people from that country to invest in agricultural land here. The issue might be discussed when Saudi Arabia’s Crown Prince Mohammed bin Salman, who is currently in India on a day-long visit, meets Prime Minister Narendra Modi on February 20.
Source: Media reports