Non-resident Indian property investors and buyers stand to benefit significantly from an impending tax cut that has been proposed by a panel in a bid to give the much-needed fillip to the lackluster Indian real estate sector.
The possible Good and Services Tax (GST) rate cut to 3 per cent and 5 per cent (from 8 and 12 per cent) in affordable and in other categories, respectively, will not only be a big boon to property buyers from within and outside of India but also trigger the rebound of the $120-$130 billion real estate industry currently languishing in the doldrums, realty pundits said.