#RealtyNewsRoundup: Home Loan EMIs To Attract GST

From July 1 this year, leasing of land, renting of buildings and equated monthly installments paid for purchase of under-construction properties will start attracting the Goods and Services Tax. However, sale of land and property will remain out of the purview of the new tax regime.

A committee set up by the Jammu and Kashmir government has approved the Smart City Proposals for the twin cities of Jammu and Srinagar. These proposals will now be submitted to the Central government for further approval. In the twin proposals, risk response has got special focus, considering the geographical vulnerability of the region.

The Maharashtra government has granted another extension to the draft Development Plan (DP) 2034. The draft plan had to be sent to the government by the Brihanmumbai Municipal Corporation by March 20. However, the recently elected 227 corporators demanded that the BMC seek an extension as they wanted to study the draft.

The buildings and factories business of L&T Construction has bagged a key design-and-build order worth Rs 2,903 crore to redevelop Mumbai's century-old BDD chawls in Worli for the Maharashtra Housing and Area Development Authority.