Browsing Tag

Construction costs

2 posts
Nirmala Sitharaman to present the union budget

Builders ask Govt To Reconsider GST on FSI Charges, Warns of Potential 10% Increase in Housing Prices

CREDAI has strongly opposed the proposed 18% GST on FSI (Floor Space Index) and Additional FSI charges, claiming that it could raise housing prices by 7-10%, making affordable housing projects financially unfeasible. The real estate body has urged the government to reconsider the move, warning that it could lead to stalled developments and disrupt the housing market.

Rising Construction Costs to Push Home Prices Highe

Construction costs in India have surged by up to 11% in 2024, primarily due to rising labour expenses. Homebuyers can expect higher property prices, particularly in the residential sector, as developers adjust to increased building costs.