Realty joint development projects hit by GST in FY18

Even as the share of real estate projects launched under the joint development (JD) model has increased significantly over the years, the challenges posed by the applicability of the GST has hit the joint development launches in FY18, a recent survey said. According to ratings agency Icra, the imposition of the Goods and Services Tax (GST) on the joint development projects has resulted in decline…