September 4, 2025

Big cheers from the real estate world! The National Real Estate Development Council (NAREDCO) has welcomed the recent GST rate cut on cement and steel from 28% to 18%. G Hari Babu, National President of NAREDCO, called this move a "relief to real estate and its allied sectors." Announced right in the festive season, this cut is expected to lift consumer spirits and spark new demand. "It will act as a strong booster for the economy, support homebuyers, and encourage developers," he said. How does this help? Cement and steel are costly materials for construction. Slashing GST on these will drop project costs, making homes more affordable and projects faster to finish. "Lower GST on key materials like cement and steel will directly reduce costs. Projects will become more viable and progress faster," Babu explained. He pointed out that affordable housing will especially benefit because these savings can be passed to homebuyers. The government’s ambitious 'Housing for All' dream is also getting a big push. "The move will make homes more accessible and push forward the government’s ‘Housing for All’ vision. The entire value chain of housing and infrastructure will benefit from this reform," said Babu. But wait, there’s more! This GST reform is seen as a smart economic move to create lasting growth. By raising people’s buying power and keeping inflation in check, it sets off a chain reaction that could push India’s GDP growth beyond 8%. “At a time of global uncertainty,” Babu said, “such fiscal stimulation underscores the resilience of our domestic economy and strengthens confidence in India’s growth trajectory.” So, with GST rates down, homes might soon get cheaper and more Dreams could come true this festive season!

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Tags: Naredco, Gst rate cut, Real estate, Cement and steel gst, Housing for all, Economic growth,