Govt should consider levying no GST on redvpt projects: Domnic Romell

CREDAI-MCHI congratulates the government on its third term and anticipates more financial measures to strengthen the economy under the current administration. Mumbai, as a vital economic engine, must focus on comprehensive city development, including infrastructure improvements and future growth planning, said Domnic Romell, President of CREDAI-MCHI, the apex body of MMR’s real estate industry. “Given that over 50% of real estate projects in Mumbai are redevelopment projects, the government should consider levying no GST on redevelopment projects. This step would ensure safer, better, and more affordable housing for the citizens of Mumbai. A uniform affordable housing criterion for both metro and non-metro cities, without a price cap, should be established, with all houses of 60 sq m declared as affordable housing, he said.