Housing prices will come down after the GST rollout, Union Minister M Venkaiah Naidu on Friday said, while expressing confidence that the landmark tax regime along with property law will bring big relief to home buyers.
Naidu, the minister for Urban Development and Housing & Urban Poverty Alleviation, said only fly-by-night operators and habitual tax evaders are opposing the Goods and Services Tax (GST).
"GST plus Real Estate (Regulation & Development) Act (RERA) will definitely bring big relief to house owners. There is no scope for evading anything in the GST. Input credit will also be transferred," he said at the Aaj Tak-GST conclave. The RERA regulations, which came into force from May this year, are such that there is no way to escape, he added. "As a Urban Development and Housing Minister, I am the happiest man that with the GST, prices of houses will definitely come down," Naidu said.