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Demonetization has not affected prices of properties

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Recent studies show that in the first quarter of 2017, prices of under construction properties in Delhi and nearby cities have seen a sharp fall. However, contrary to the popular belief, it is not due to demonetization in November. This fall has been a correction in price of properties. In the last quarter of 2016, there was an upward movement in pruces of residential properties.

Clarification on registration of unapproved plots by Madras High Court

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Clarifying its stand on registration of unapproved plots, Madras High Court has allowed registration of all housing plots that were converted from agricultural land on or before October 21, 2016. However, it is to be noted that this registration will not be allowed for plots that had been registered during the interim order passed by the court banning registration of properties converted from agricultural properties.

GST on under construction properties to be charged at 12%

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The Goods and Services Tax (GST) schedule approved by GST council mentions that all under construction properties will be charged GST at the rate of 12%. The value of land is included in the amount charged from service recipient. The builder can also avail full input credits.

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