MUMBAI: A tax cut by India to help the country’s troubled housing sector should boost home sales, but by itself will not be enough to put cash-short developers on more solid ground, say industry executives.
On Sunday, a government body said the sales-tax on under-construction residential houses in April will drop to 5% from 12%, while that on lower priced projects classified as “affordable housing” will be cut to 1% from 8%.
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