Calculator
GST on flat purchase calculator
GST on residential flats depends on whether the flat is under construction and whether it is affordable housing.
The flat
₹60 lakh
₹
GST is charged on the construction value. For flats sold with land, one-third of the value is treated as land, which the 1% and 5% effective rates already allow for.Type of flat
Result
GST at 5%Total with GST: ₹63,00,000
The same price, three ways
Assumptions:
- Residential flats in projects that started on or after 1 April 2019, under the new rates without input tax credit.
- Affordable housing: carpet area up to 60 sq m in metropolitan cities or 90 sq m elsewhere, and value up to ₹45 lakh. GST 1%.
- Other under-construction residential flats: GST 5%.
- A ready flat sold after the occupancy (completion) certificate is issued: no GST.
- Separate charges such as maintenance, clubhouse or parking may attract GST at other rates. Check with your tax adviser.