Impact of GST on Nagpur Properties for Sale

The Goods & Services Tax (GST) ushered an era of unified taxation system across the country. Implemented two years ago in July 2017, GST was looked upon as a game-changer for the Indian economy. It is one of the most radical taxation reforms and a welcome move across sectors as it led to the end of the cascading effect of taxation. It helped people understand tax by simplifying it and facilitating greater tax compliance. GST has a significant impact on the real estate sector, mainly the new projects. Know more about the impact of GST on the property sector at large and in Nagpur in particular.

One Tax for All
GST hails an era of uniform and transparent taxation system in the real estate sector. You can easily identify and understand the taxation component.

Under the earlier taxation system, a buyer and investor had to pay multiple taxes depending on the stage of property construction. If you were to buy an under-construction property, you would end up paying VAT, service tax, stamp duty and registration charges. On the other hand, properties after completion were exempt from VAT and service tax. Moreover, the tax levied varied from state to state.

With the implementation of GST, there is only one tax, which you need to pay, and it will highlight as GST in your property documents. All under-construction properties get charged at 12% of the property value. Other than this, only the stamp duty and registration charges get levied. After the recent amendment in the GST Act, the rate has further reduced to 5%. However, this change will depend on the developer. If the developer goes ahead with the 5% GST slab, then you and the developer will not benefit from the input tax credit.

Reduced Construction Cost
With one tax, input tax credit benefit and uniform tax on logistics, the construction cost has come down and is a win-win the situation for developers and home buyers.
 
As the multiple taxation era ended with the implementation of GST, there has been a decline in the cost of house construction. The property prices have come down in every Indian city, and the trend is visible in Nagpur homes too. Further, what is making buying homes lucrative for investors and buyers is the input tax credit under the GST regime.  

Input tax credit essentially means that the developer can deduct the tax paid on the purchase of the inputs at the time of paying the final tax. For instance, the tax paid in the process of buying different materials can get adjusted from the output tax. This is another significant benefit of GST for the home developer and buyer. In the pre-GST era, the taxes paid on inputs were not waived off from the output tax. Thereby, the developer and buyer had to pay dual tax.

Another prominent reason for reduced construction cost is the applicability of GST on the logistics sector. The transition of goods is easier and smoother with a reduced tax rate.  

If you have been planning to buy a home and pushing it for the tax concerns, then now is the time to take the leap. After two years of the implementation of GST, the teething concerns have got resolved, and now you can benefit from a uniform, easy to understand the tax system and pay relatively less price for a house. 

You can explore new township projects in Nagpur and make the most of the post GST era. If you are looking for a new flat scheme in Nagpur with GST benefits, then pause your search on Vrindavan. The exquisite township designed by Radha Madhav developers will be worth exploring. Spread over acres of land, it comes loaded with amenities and offers an ultra-luxurious living experience. Know more about this best township in Nagpur and book your home today.

Inspiring Ideas to Make your Home Fresh with Curtains : Vrindavan Nagpur

Are you planning to decorate your home? Doing up the interiors of a new home is exciting and tedious. However, you can make the task simple by taking up one thing at a time. How about starting with curtains? Windows are central to a room, and the window design can change the look and feel of the space. Make inspiring homes with designer curtains using the below ideas

Modern or Contemporary Appeal: If you want to give a contemporary appeal to your home, then get curtains with large prints in bright shades. It will garner all the attention and provide a modern feel to the room. If going for a traditional effect is on your mind, then look for curtains in small prints in light hues. In such a case, other furnishings will take centre stage

Light or Luxurious Feel: For that inspiring appeal, play with light or heavy fabric curtains. If you want that cosy and warm ambience, then get heavyweight curtains and give your room an inviting vibe. However, for a light and breezy feel, nothing can be better than a pair of wispy sheers. They will allow sunlight on those bright sunny days and keep the home lit up even during the grey weather. Alternatively, you can pair blackout and sheer variety, layer-up and give a luxurious feel to your home.

Create a Focal Point: With curtains, you can easily make a colour pop or focal point of the room. If you plan to paint the walls or get furniture in light hues, then you can add a dark colour curtain. It will gather attention in the room and become focal to it. You can keep the look and feel of the room but add some interest with contrasting curtains.

Get Nature Inspired: Merge the indoors with outdoors and show your love for nature with curtains in leafy or floral prints in natural colour tones. It will give a comfortable feel to space and is ideal for modern and retro style decor. You can also think of such a window design for a room with adjoining garden space.

Dramatise or Keep it Simple: Irrespective of the curtain you choose, the way you hang it can give it a different feel. If you want to dramatise, then hang the curtains a few inches below the window frame. However, for a simple and straight forward approach, hang them according to the frame size.

Use these curtain ideas to design your new home. However, if you are still in search of a nest which you can design as you fancy, then visit the Vrindavan township in Nagpur and Wardha. Close to nature and spacious, it is one of its kind townships by Radha Madhav developers. There are homes of different configuration and layout options too. They have many amenities that will spoil you with choices. Plan a site visit and invest in these homes in Nagpur and have a great time designing an inspiring abode.