Title: Implications of real estate regulatory authority and goods and services tax on the Indian real estate sector
Authors: M.S. Ranadive; Pranoti Deepak Dare
Addresses: Department of Civil Engineering, College of Engineering, Pune, Maharashtra 411005, India ' Department of Civil Engineering, College of Engineering, Pune, Maharashtra 411005, India
Abstract: Every country has its own real estate sector and taxation policy, hence the rules and regulations governing the same differ. In India, the Real Estate (Regulation and Development) Act, 2016 and the Goods and Services Act, 2017 were passed which came into effect from 2017. The real estate sector being one of the major sectors contributing towards the gross domestic product of the country has been affected to a great extent because of these two bills. An effort has been made to draw out changes which have been brought out by the two laws on the real estate sector. Real estate regulatory authority (RERA) will curb the malpractices which were followed in the real estate sector due to lack of regulation. The prices of real estate projects have incremented post implementation of goods and services tax (GST). The study is based on a questionnaire survey. The statistical analysis is performed by technique for order of preference by similarity to ideal solution (TOPSIS).
Keywords: real estate regulatory authority; RERA; goods and services tax; GST; Maharashtra Ownership of Flats Act; MOFA; real estate; TOPSIS.
International Journal of Sustainable Real Estate and Construction Economics, 2019 Vol.1 No.4, pp.314 - 332
Received: 18 Jan 2019
Accepted: 19 Apr 2019
Published online: 30 Mar 2020 *