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GST to help homebuyers and realty developers immensely

The enactment of long awaited Goods and Services Tax (GST) will remove multiple tax system, reducing input cost for all realty players and thus increasing the demand in real estate sector, says developers and advisors.

The much awaited Goods and Services Tax (GST) bill get clearance in Rajya Sabha and sent back to Lok Sabha for approval soon. According to experts, this new taxation system in India could bring in more transparency in the real estate transactions and possibly reduce cost of home ownership.

Happykeys prepares a quick draft of the proposed bill and talks about how it is going to affect the real estate state sector:

The bill chiefly entails that:

  • GST is a uniform indirect tax system that is levied on goods and services across a country.
  • GST will remove multiple tax system like Value Added Tax (VAT), Service Tax, and Additional Duties of Excise & Customs etc. with a single taxation system.
  • GST would also replace state taxes like Central Sales Tax, Entertainment tax, Purchase Tax, Entry Tax, Taxes of Advertisements etc.

GST and Real Estate

Real estate experts believe that GST will push demand in the real estate sector and help in pulling up the sector which is reeling under slowdown for some time now. While the new tax system will not affect ready-to-move-in houses as home buyers pay stamp duty to the state government, may be lower costs for under-construction projects and the service tax is calculated on paid duty only.

However, the final benefit to homebuyers will depend on the rate fixed by the government. According to experts, if the rate is lower than the 15% service tax, it will transform into good news for end users.

Here is what the industry experts have to say:

Deepak Kapoor, President CREDAI Western U.P

The implementation of GST Bill will aid in broadening the coverage of tax base, infusing transparency and also removing the present unhealthy competition among different states. Once GST is implemented, the multiplicity of taxes which leads to ambiguity would be eliminated. We are optimistic that new GST rates if kept rational would bring down the property prices due to lower input costs and as a result demand is expected to grow in near future. However, exclusion of Stamp Duty charges from the GST is a setback as home buyers will have to pay stamp duty too other than GST. Still, the benefit may go to home buyers if lower rate of GST is levied. Also it is very important that GST be implemented at the same rate in all the states to bring in uniformity.

Zafar Akbar, Chairperson, Exalter Group

Real Estate sector will be highly benefited with the passage of GST bill as it will be a solution to a sector full of complexes and concerns. The different indirect taxes would be amalgamated into one tax easing the process of taxation considerably both for developers as well as home buyers. It is anticipated that under the GST system, there would be an even flow of credit and current restrictions on construction related credits are expected to be removed as well. Commercial properties are going to get huge benefits with this move as no credit is available on construction of developing a commercial property.

Sushant Mutreja, Chairman, Cosmic Group, India

GST bill once implemented would boost transparency and standardization in real estate sector. Home buyers are supposed to pay service tax and VAT presently while purchasing properties. There are also taxes like excise duty, custom duty etc to be paid by the developer which is then added to the cost of properties. The proposed GST will replace these taxes with a single tax bringing down the cost of construction i.e. all the multiple taxes on procurement side would be replaced by GST. However, the actual impact of GST can only be seen when final rates are decided.

Gaurav Gupta, General Secretary CREDAI Raj Nagar Extension

GST bill is proposed to put together all these indirect taxes and replace them with a single tax. This would further reduce the costs in the hand of developers and home buyers as well.  The burden on tax payers is expected to come down considerably. On the other hand, the bill will also remove the present unhealthy competition among different states which has led to different practices being followed by developers in each state. Hence such practices and tax paid by home buyers will also become uniform under GST regime.

Prashant Tiwari, Chairman, Prateek Group

GST bill will definitely be a game changer for Real Estate Sector. GST Bill will follow a single tax regime eliminating all the other taxes reducing the overall cost of construction. Under GST bill various taxes on building materials would be merged into one giving direct benefit to the builders which would then be passed on to the end-buyers. Also, it will have a positive effect on the commercial properties as commercial real estate is facing a lot of heat due to lack of funds. GST could boost this property segment as well. We are expecting that GST would help in increasing the GDP growth which would eventually help real estate to flourish in long-term.

real estate research-report

Happykeys Research Report: 4 most affordable areas in Noida

Noida and its adjacent areas have high supply of residential property. Happykeys team brings you the four top most affordable areas to buy residential property in this region. Read on.

Noida has undergone a slew of new infrastructure development in the last couple of years. The city has become one of the largest industrial cluster in India with respect to the establishment of IT industries and commercial sectors. The commercial set up in the city has played vital role in framing the success story of Noida.

The city has witnessed development on all fronts from civic infrastructure to smooth connectivity and is also seeing an increasing demand in the affordable housing segment. Here’s is a report by the Happykeys team that helps you choose the most suitable budget property  locality in Noida real estate market. This analysis is based on key factors as price, connectivity, location advantage, civic infrastructure, price appreciation, future prospects etc.

Here are the four top localities which have affordable property options:

Noida  – Sectors (49, 150-51, 118, 129,131,134, 144)

These sectors in Noida are surrounded by fully developed areas like sectors 10, 11, 12, 22, 18 and 62. These areas are well-mapped with good infrastructure and have been on the top list of home buyers.

These sectors are located next to NH- 24 which provides easy access to East Delhi and other major cities like Ghaziabad and Meerut. The arterial roads connect them well with other sectors in Noida, Greater Noida Expressway and South Delhi.

These sectors have abundance of new residential projects which are ready to move in properties or ongoing construction projects . Residential property in sector 49 is available at a price range of Rs 2,916 – 4,190 per sqft. The most affordable housing segment is sector 150 and 151 as the property available here is in the price range of Rs 2,600 – 4,000 per sqft  while sectors 118, 129,131,134, 144 offer residential property between Rs 3,300 – 4,500 per sqft. Proposed metro connectivity makes these locality lucrative for buyers.

Greater Noida West

Formerly called as Noida Extension, this area comes under the jurisdiction of Greater Noida Industrial Development Authority (GNIDA)

The locality offers easy accessibility with Noida, Greater Noida and Ghaziabad. Greater Noida West is one of the well planned residential cluster of Delhi-NCR region. The locality is well-mapped with commercial and retail spaces, shopping centers, educational institutions, health centers and mega township projects by prominent developers.

The area contributes major chunks of new launches and under-construction projects in Noida. It is the second most affordable locality after Yamuna Expressway. The property prices here range between Rs 2,500 – 3,800 per sqft.

Yamuna Expressway

Yamuna Expressway is six-lane, 165 km long expressway that came into limelight when it became operational in 2012. The area along the expressway has witnessed a lot of Urban Development carried out by YEIDA. It has become most vibrant real estate destination of Delhi-NCR region with good supply of low-cost residential options.

The YEIDA has recently launched new housing scheme which puts on offer mid-budget property options. It offers 280 flats with 200 smaller units and 80 bigger units. The smaller units are dedicated to low-income groups and will cost around Rs 11 lakh. The small ticket size flats are of sizes 29.76 meters while bigger units will have sizes of 54.75 meters and will costs Rs 19 lakh. These affordable apartments are constructed in Sector 22D of YEIDA.

The average property prices are low as compared to other realty segment of Noida due oversupply of open land plots in the area. For example, you can get a 1 BHK flat (625 sqft) at Rs 20 lakh and 2BHK (1,000 sq ft) at Rs 28 lakh. Get complete list of Yamuna Expressway property.

Greater Noida Expressway

The area along the Greater Noida Expressway has become one of the most sought after destination for home seekers. Buying and renting has been on boom, particularly in new sectors. Due to its easy accessibility to sector 18 market – the commercial hub of Noida, the housing projects in the area is in demand. The six-lane expressway connecting Delhi and Noida is site for many residential projects too. Average prices are reigning around Rs 3,800 – 6,000 per sqft.

vastu shastra tips

Vastu Shastra : 11 Simple Vastu Shastra Tips for Wealthy Home

One can take advantage of Vastu shastra rules in many ways. These rules can help in bringing peace and prosperity in your house. The basic vastu shastra rules are about the directions and elements of nature. Here’s some set of Vastu instructions that help you in attracting positive energy and wealth in your house. As per Vastu, there are several things kept inside the house which of no use, and can drain you of your finances and bring poverty. Here are the list of things that you should immediately throw out of your house if you want to attract positive energies and wealth.


5 Vastu Things to Consider When Shifting in New House

Pigeon nest: It is said that having a pigeon nest in the house leads to instability in the house along with poverty. If you have one in the house, consider moving it away from the house.
Pigeon nest : Vastu shastra


Bee hive: A bee hive is not only dangerous for you, but also attracts bad luck and poverty in the house. Take the services of a professional to remove one from your house.

Bee hive : Vastu shastra


Spider web: A spider web in the house is a sign of unfortunate happenings in your life — remove one immediately and keep your house as clean as possible.

Spider web : Vastu shastra


Broken mirrors: Broken mirrors are not only considered poor Vastu, they can also attract negative energies in your house along with poverty — make sure to throw away all broken mirrors in the house.

Broken mirrors : Vastu shastra


Bats: Bats are considered to be the bearers of ill-health, unfortunate situations, poverty or even death. If you live in an area which sees bats, make sure to seal all windows and doors after sunset.

Bats : Vastu shastra


Dent in walls: If you have some dents in your walls, get it repaired immediately — these are not only an eye sore but also attract ill luck and poverty.

Dent in walls : Vastu shastra


Leaky taps: Leaky taps not only waste water, but also are a sign of positive energies being dragged out of the house. Make sure to get a leaky tap or faucet repaired immediately.

Leaky taps : Vastu shastra


Terrace: Often, our terrace becomes the dumping ground for old furniture and garbage. If you see your terrace become a dumping yard, clean out all the junk immediately. A dirty terrace is the breeding ground of poverty.

Terrace : Vastu shastra


Stale flowers: When you pray to God everyday, make sure that you do not offer stale flowers to him. Clean your prayer room thoroughly before praying. Keeping stale flowers can lead to poverty.

Stale flowers : Vastu shastra


Dry leaves: Regularly prune your indoor plants and weed out all dried out-leaves. Not doing so will attract negativity in your house that can lead to a financial crunch.

Dry leaves : Vastu shastra


Loose wires: Loose wires should not be kept in the house. This apart, if any of your electrical appliances has stopped working, then either get it repaired immediately or discard it for good.

Loose wires : Vastu shastra

Sohna Road on the upswing of real estate boom

Sohna Road on the upswing of real estate boom

Sohna Road is fast emerging as a prime residential location in the Gurgaon real estate market. Here is a precise look at the market activity.  

For  home buyers seeking property in the Delhi-NCR, Gurgaon has long been a favourite destination. Home buyers who find Delhi out of their price bracket prefer this region for a variety of reasons. Favorable factors such as proximity to Delhi, international airport and smooth connectivity have led to Gurgaon’s transformation into biggest economic hub.

After Gurgaon’s central location, Sohna road is the fast emerging locality in the Delhi-NCR real estate market which is growing constantly in terms of livability index and civic infrastructure.


Check out :  Low-Cost Property Options Galore in Gurgaon


Strategically located in the south of Gurgaon, Sohna has shown promising improvement on many  key livability parameters. This perception has also been confirmed by a new report by Cushman & Wakefield.

Here are the main growth drivers impacting property prospects:

According to micro-market report, the locality has potential for future urbanisation. This report is based on assessment of key parameters such as existing and potential connectivity with emerging commercial hub, health care infrastructures and educational facilities, rail and road connectivity etc.

Gitamber Anand, President, CREDAI says “Sohna, south of Gurgaon, is an upcoming location with great potential for the future. We are looking at it very keenly especially to see the support the government initiatives are providing to this location. We are seeing definite interest from end users and investors for the currently underway projects.

Property scenario

The locality has good supply of new residential, commercial and retail properties. Sohna as realty market has the presence of prominent developers like Eldeco, Unitech, Tata Housing, Ashiana Homes, Central Park, Ireo,  Raheja, Omaxe, CHD, Parsvnath, Ansal etc. have served with a several retail, residential and commercial properties in this locality.


Check out : Gurgaon circle rate cut to help market: Realtors


Home buyers can choose from a number of property options ranging from housing apartments, large integrated township, foreign theme-based homes, villas and duplexes. Some land plots are also available along with mid and high rise buildings. Sohna Road has number of functional shopping malls such as Galleria, Omaxe, Ninex Mall blessed with almost all civic amenities like schools and hospitals in the vicinity.

Affordable housing options

Housing affordability” has been given high rating in the report as the prices of majority residential houses lies between the range of Rs 37 – 58 lakhs for 2 BHK flats and Rs 61-89 lakhs for 3 BHK apartments. And these residential projects are under various phase of construction. Possibly, these projects will get ready for possession in next 3-4 years and it will create huge inventory and significant potential for affordable housing option in the Gurgaon region.

Approximately 12,000-13,000 inventory of housing units are expected to come up by 2020.

The area also offers ready-to-move-in apartments in the price range of Rs 8,000- 11,000 per sq ft. The report chiefly states that the locality is still affordable as compared to other locations of Gurgaon like Golf Course Road and MG Road.

circle rates

Noida circle rates to go up from Aug 1 but flats spared

The Noida administration approved an increase in circle rates but left flats out of its purview, a big relief for thousands of new homeowners who have just got possession of their homes.

The Noida administration on Saturday approved an increase in circle rates but left flats out of its purview, a big relief for thousands of new homeowners who have just got possession of their homes or will receive it over the next few months. Home buyers in Noida are appreciating this move.

It is also decided to waive a 3% charge levied on flat-owners under the ‘security’ component, which is among six overheads that are factored in during registry, depending on which of the facilities a builder provides. The other components — club, community centre, lift, gymnasium and swimming pool — remain chargeable as usual.

On the other hand, from August 1, 2016, Noida will see circle rates in the residential category (plotted houses, or kothis) increase by 14%. There is no change in circle rates in the commercial and institutional categories or villages and rural areas. Circle rates have been revised in the Yamuna expressway region too. In Greater Noida, they have been left untouched.

District magistrate N P Singh said the development authorities in Noida, Greater Noida and Yamuna expressway region are not profit- making government bodies. “They revise land lease agreement annually based on the current market price. The administration is bound to revise circle rate, which corresponds with the rate of the Authorities,” he said. “We can’t keep the circle rate lower than the authorities’ land lease rate,” he added.

Noida was under pressure to reduce circle rates because they are higher than market rates in several areas. It was in demand by people for a long time. The residents and home buyers were in protest.  Circle rate is the minimum rate at which a property can be registered.

Singh said since there is no change in the circle rate for flats, most home buyers will not be affected. “To benefit them, we have also waived additional duty on ‘security’ which was applied in Noida, Greater Noida and Yamuna expressway region,” he said.

However, plot buyers feel the revised circle rate will dissuade others from investing in properties.

Rajesh Kumar Yadav, ADM (finance and revenue) Gautam Budh Nagar, said that the revised circle rate will come into effect from August 1.

Affordable housing options

Siddhartha Vihar emerges as affordable housing hub in Ghaziabad

This area has smooth connectivity via NH 24, is located close to Delhi and Noida’s commercial clusters and hence is becoming a popular residential locality.

The Dasna-Meerut six-lane connecting road on NH-24 has increased the demand for housing units along the entire stretch and has added realty charm to many areas of Ghaziabad. Siddhartha Vihar is one such locality that will benefit from this 105 km long expressway. The locality has garnered attention of new home buyers who wish to own a house in the Delhi-NCR region. Affordable property prices are the biggest USP for this area. Most of the residential properties are available in the price range between Rs 2,500 – 4,000 sq ft which is way cheaper than the rest of Ghaziabad.

The improved civic infrastructure and smooth connectivity via NH-24 has brought in many real estate developers to this area even when the real estate market is reeling under pressure of slowdown everywhere. The property prices in the area are expected to increase significantly in the near future.

Prashant Tiwari, Chairman, Prateek Group says, “NH 24 has always been a much loved destination of property builders and buyers. Siddharta Vihar is located perfectly on the national highway. It is proposed to be widened up to 16 lanes and have an elevated road that will connect it to NH-58. Then we have a new clover leaf road just opposite the Siddharth Vihar that connects the place to Greater Noida West and other parts of Noida.”.

Low-cost housing options and fast shaping infrastructure are the main reasons I would suggest for investing in Siddhartha VIhar,” said Sunil Pandey of Real Homez, a property advisory firm.

Also, this area is close to Indirapuram which has several malls and shopping centers. This locality is best for end users those who looking to buy home at affordable price. Home buyers will profit once the metro from Dilshad Garden to new bus stand in Ghaziabad and Indirapuram and Mohan Nagar starts functioning,” he added.


Check out: Metro may reach Indirapuram soon


The residential housing projects here are ready to cater wide segment of middle-income group people.

For instance, buyers can choose from 1 BHK to 3 BHK flats in a gated community projects. Buyers can get 1 BHK (400 sq ft) at Rs 13 lakh and 2 BHK (770 sq ft) for Rs 35 lakh. And 3 BHK flat are available for Rs 50 lakh approx.

Check out the top low-cost property options in Siddhartha Vihar:


Sr. No Project Name Apartments Size Price Location
1 Prateek Grand City 2, 3 BHK Apartments 770 Sq. ft. – 1795 Sq. Ft. Rs 27 – 70 lakh Siddhartha Vihar
2 TGB Neelgagan 2, 3 BHK Apartments 1250 Sq. ft. – 1650 Sq. Ft. On Request Siddhartha Vihar
3 Antriksh Gold 2, 3 BHK Apartments 772 Sq. ft. – 1340 Sq. Ft. On Request Siddhartha Vihar