The Goods and Services Tax rate of 12% on the real estate sector will not have a measurable impact on prices, according to the National Real Estate Development Council (NAREDCO).

However, the Council pointed out that there were other areas of concern that the Government needs to address, such as the tax treatment of the affordable housing segment, and the tasks to be completed after the Real Estate (Regulation and Development) Act, 2016 comes into effect. There are also aspects of the GST rate as specified by the GST Council that need clarity, the Council said.

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