How a service tax hike impacts luxury houses in metros
If you are a buyer looking for a luxury homes, prepare to pay more with the Finance minister proposing to reduce the abatement on service tax availed for flats over 2000 square feet or costing Rs 1 crore and above. We look at how the small increase in service tax really impacts the sale of apartments in metros as these cities seldom offer apartments at prices below the 1 crore mark. Is this something buyers can easily absorb?
