The period of 2016-2017 was a watershed period for the Real Estate Industry when 𝟑 𝐠𝐚𝐦𝐞 𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐞𝐯𝐞𝐧𝐭𝐬 happened. I often refer to them as the 𝗔𝗺𝗮𝗿 𝗔𝗸𝗯𝗮𝗿 𝗔𝗻𝘁𝗵𝗼𝗻𝘆 of Real Estate Evolution as history will look back at these changes as equally iconic as the namesake movie.
▶️𝙍𝙀𝙍𝘼 𝙞𝙢𝙥𝙡𝙚𝙢𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣 “𝐀𝐦𝐚𝐫”: The RERA law introduced in May 16 was brought to regulate the entire eco system protecting the rights of consumers and bringing accountability to developers and agents.
▶️𝘿𝙚𝙢𝙤𝙣𝙚𝙩𝙞𝙯𝙖𝙩𝙞𝙤𝙣 𝙖𝙣𝙣𝙤𝙪𝙣𝙘𝙚𝙢𝙚𝙣𝙩 “𝐀𝐤𝐛𝐚𝐫”: A move by the Government in November which stripped the Rs500 and Rs1000 of their legal status overnight bringing a severe jolt to the Real Estate sector which historically had the largest absorption of the hard cash.
▶️𝙄𝙢𝙥𝙡𝙚𝙢𝙚𝙣𝙩𝙖𝙩𝙞𝙤𝙣 𝙤𝙛 𝙂𝙎𝙏”𝐀𝐧𝐭𝐡𝐨𝐧𝐲”: One of the most iconic tax laws which helped in streamlining tax structures and bringing unprecedented transparency in the overall economy.
Today is the day of Anthony as we celebrate the 𝟔𝐭𝐡 𝐚𝐧𝐧𝐢𝐯𝐞𝐫𝐬𝐚𝐫𝐲 𝐨𝐟 𝐆𝐒𝐓 𝐢𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 on July 1, 2023.
The history of GST goes back as early as the year 1954, when it was first adopted by France, followed by over 160 countries worldwide.
Malaysia was one of the most recent countries to adopt GST, back in 2015.
We have come a long way in the last 6 years with respect to GST. The GST Collections hit a peak of ₹𝟏.𝟗𝟕 𝐥𝐚𝐤𝐡 𝐜𝐫𝐨𝐫𝐞 𝐢𝐧 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟑 compared to ₹0.8-0.9 lakh crores in the initial months in 2017.
✅Purchase of ready to move properties: 0% ✅Purchase of under-construction properties: 5% ✅Purchase of under-construction affordable housing: 1% ✅Renting of residential properties: 0% ✅Renting of commercial properties: 18% ✅Brokerage to agents: 18%
𝐀𝐧 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐢𝐧𝐠 𝐓𝐫𝐢𝐯𝐢𝐚 𝐚𝐛𝐨𝐮𝐭 𝐀𝐦𝐚𝐫 𝐀𝐤𝐛𝐚𝐫 𝐀𝐧𝐭𝐡𝐨𝐧𝐲
The film was the highest-grossing Bollywood film at the Indian Box Office for the year 1977. Adjusted for inflation, the film has grossed approximately ₹423 crores ($51 million) as of 2023.
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