Confederation of Real Estate Developers Association of India (CREDAI)-Srikakulam town president on Friday (September 19, 2025) said that the Union government’s decision to cut GST on cement and other construction material would be a big boost for the industry. The properties would now be available at affordable rates, he added.
Speaking to The Hindu, he said that the Centre’s decision to bring cement from 28 per cent to 18 per cent slab would bring down the construction cost significantly. “We expect ₹35 to ₹40 deduction on each cement bag with the revision of GST slabs. The cement manufacturers should pass on the GST benefit to the construction industry so that the property buyers will get the real benefit,” he said.
Talking about the State government’s decision to relax norms for the construction of high rise buildings and exemption from NALA (Non-Agricultural Lands Assessment) charges, he said the move would benefit the real estate sector in Srikakulam. “The builders can offer around ₹3 lakh-₹4 lakh discount on each apartment with the recent decisions taken up by the governments. Many realtors who shelved projects can now resume work,” he added.
