GST 2.0: Buying houses will be cheaper, the price of cement and steel will fall

GST 2.0 Update: GST 2.0 is going to be very special, which is being discussed rapidly. In the GST Council meeting, the tax slabs have been reduced to only two. The most important thing is that the government has reduced the GST on cement and steel to 18 per cent. Earlier,r 2per centnt GST was levied. This decision of the government will bring down the prices of houses and shops.

Meaning it will become easier to buy a house. The cost of cement and steel in any house comes to 40 per cent. Due to the reduction in house prices, there may be a rush of buyers in the real estate market. The new rates of the proposal approved in the GST Council will be applicable from 22 September 2025. House buyers are going to get a direct benefit from the reduction in GST.

The construction cost will be reduced.

With GST being 18 per cent, now the cost of construction of a new house or shop will be reduced significantly. According to a report, about 40 to 45% of the total construction cost is spent on cement, steel and other things in building a luxury or normal house. With the reduction in GST, the cost of the project will now be reduced. Developers can give this benefit to the home buyers. This will make it easier to buy a house. Meaning the demand for houses will increase significantly. This can lead to a further increase in the festive season.

The real estate sector can get a boost.

This decision of the central government can now bring a boost to the real estate sector. According to CREDAI chief Shekhar Patel, this is being considered a good reform. He said that reducing the GST on cement from 28% to 18% is being considered a very big decision.

This is going to have a great impact on the real estate and construction sector. According to Patel, this reduction can help in reducing the total cost of raw materials. It will be easy for home buyers, and prices will fall.

Demand will increase during the festive season.

For information, according to Sunil Goyal, Managing Director of Newmax Realcon, a reduction in GST on cement will only provide economic relief. This step of the government is going to increase confidence. Customers often have this question in their minds: whether the policy reforms actually reach them or not.