Real Estate stocks surged after the Goods and Services Tax (GST) Council has cut tax rate on under-construction housing properties to 5 per cent without input tax credit (ITC), from the existing 12 per cent.
Prestige Estate Projects is currently trading at Rs. 214.00, up by 2.15 points or 1.01% from its previous closing of Rs. 211.85 on the BSE. The scrip opened at Rs. 220.00 and has touched a high and low of Rs. 220.00 and Rs. 213.35 respectively. So far 15265 shares were traded on the counter.
Capacite Infraprojects is currently trading at Rs. 202.85, up by 2.00 points or 1.00 % from its previous closing of Rs. 200.85 on the BSE. The scrip opened at Rs. 203.40 and has touched a high and low of Rs. 204.10 and Rs. 202.85 respectively. So far 186 shares were traded on the counter.
Sobha is currently trading at Rs. 445.20, up by 3.15 points or 0.71 % from its previous closing of Rs. 442.05 on the BSE. The scrip opened at Rs. 460.00 and has touched a high and low of Rs. 460.00 and Rs. 444.10 respectively. So far 7272 shares were traded on the counter.
This step has been come a big relief to home buyers. Currently, the GST is levied at 12 per cent on payments made for under-construction properties or ready-to-move-in flats where completion certificate has not been issued at the time of sale.
