The Ghaziabad Development Authority (GDA) is all set to launch its pre -GST sale of its 900 flats in the existing and left over schemes.
GDA Vice-Chairperson (VC) Kanchan Verma said on Tuesday that the authority has decided to provide benefits of pre-GST imposition rates to its prospective buyers.
“Most importantly the existing properties are out of the GST purview. It will lower the cost at 28 per cent automatically which is a major attraction to the buyers. And it will be the last chance for the buyers to get benefits of the pre-GST stage,” the VC said.
“These properties are exempted from GST since the authority had launched these schemes before the GST was implemented. We are transferring direct benefits to the property buyers. GDA has decided to pass over this benefit to its buyers under its new marketing strategy as the private builders would not pass this benefit to buyers”, the chairperson said.
“The authority has further decided to attract buyers by providing best quality construction, better connectivity and liberalised payment schedules”, she added.
In addition to these advantages to the buyers and adopting new marketing strategy, the GDA VC said that in a tough competitive era, the authority will have to change its attitude. The time has come to give up Government culture and to act like a marketing body in addition to its basic duty as a regulatory authority. Amid the cut throat competition we are going to attract buyers by calculating cost in such a manner that it comes within the grasp of middle segment as a general policy, the VC said.
“I will ask the finance department, if it could schedule payment plan in a liberalised manner so that its installments could adjust within limited resources of buyers specially service class buyers,” the VC added.
Although the roads have been constructed to connect these sites, we want to improve dense carpeting connectivity, she further said.
“These 600 flats are located in Madhuban Bapudham and is situated adjoining the eastern peripheral expressway. The other 300 flats are also situated in the adjoining localities of left over properties from the schemes launched in the past. We are going to provide the best opportunity to the buyers,” the VC said while replying to a question.
In the coming years the construction cost would increase on two accounts — one by the imposition of GST and the profit margin would be increased in view of the unforeseen eventuality of Real Estate Regulatory Authority (RERA) implications. Hence, GDA has decided to offer this last opportunity to the buyers as both the GDA and the buyers stand to gain, she added.