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Mr_Khetsi_Barot“The larger challenge facing the economy today is demand creation. We are observing that the high transaction and borrowing cost for homebuyers has continued to pinch the developers in under-construction properties, especially the premium and luxury housing segment. A temporary suspension of GST or introduction of one percent GST for under-construction properties across product classes would help reduce the transaction cost for the homebuyers and would boost the much-needed demand in the market. The real estate market of India in 2020, will see a multifold increase in the number of residential projects in the affordable, small & mid-size home segments. These projects will deliver well both in terms of price realisation as well as the sales velocity. The focus for all developers and the community at large needs to be on project completion and timely delivery. It has become imperative for all developers to consolidate their project portfolios before eyeing further expansion.’’

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