‘GST makes jt development of realty projects unviable’

Joint development of a real estate project, including housing, has become unviable due to inclusion of such a practice under the Goods and  Services Tax (GST) regime, say developers. Joint Development Agreements (JDAs) now attract  GST at the rate of 18%. According to the new regime, the land owner renders a ‘service’ to the developer via the transfer of development (construction) rights…