24 May 2023|4 Minutes Read
By : Admin

Mr. Neeraj K. Mishra: A Key Addition to the Governing Body of BRICS Chamber of Commerce and Industry

Mr. Neeraj K. Mishra: A Key Addition to the Governing Body of BRICS Chamber of Commerce and Industry

The BRICS (Brazil, Russia, India, China, South Africa) Chamber of Commerce and Industry serves as an influential organization fostering economic cooperation and trade among its member nations. A recent development of great significance is the election of Mr. Neeraj K. Mishra as a governing body member of the BRICS Chamber of Commerce and Industry.

With this blog, we aim to explore how the appointment of Mr. Neeraj K. Mishra, the director of Ganga Realty, is not only a huge achievement for the company but also a major accomplishment for our country. But first, let us talk about the organization itself.

BRICS Chamber of Commerce and Industry:

The BRICS Chamber of Commerce and Industry is a renowned international platform that facilitates economic collaboration, trade promotion, and business networking among its member nations. It plays a crucial role in enhancing multilateral economic cooperation, fostering innovation, and attracting investments. By leveraging the collective strength of Brazil, Russia, India, China, and South Africa, the Chamber contributes to shaping global economic policies and creating a favorable environment for businesses to thrive.

Now, How Neeraj K. Mishra can bring change at the grassroots level through this appointment?

As the director of Ganga Realty, Mr. Neeraj K. Mishra brings a wealth of experience and expertise to his role as a governing body member of the BRICS Chamber. His professional journey has been marked by the successful management of large-scale projects and a focus on sustainable architecture. With his IGBC Certified Accredited Professional status, Mr. Mishra demonstrates a commitment to integrating sustainable practices into his work, promoting environmentally friendly initiatives within the real estate sector.

Impact on the BRICS Chamber of Commerce and Industry:

Mr. Mishra’s expertise lies in overseeing the design of over 70 million sq. ft of space, spanning diverse sectors such as new construction, alterations, public and private projects, residential and commercial developments. As the director of Ganga Realty, his broad experience enables him to bring a unique perspective to each project, ensuring the integration of sustainable architectural principles and efficient project management practices. By involving all stakeholders from clients to engineering disciplines and contractors, Mr. Mishra ensures that project requirements are met, resulting in cost-effective designs that exceed clients’ expectations.

Mr. Mishra’s election as a governing body member of the BRICS Chamber presents an opportunity to utilise his expertise in sustainable architecture and project management. His understanding of the real estate sector and commitment to sustainable practices align with the Chamber’s objectives of promoting environmentally friendly initiatives and responsible business practices. Through his active involvement in the Chamber’s decision-making processes, Mr. Mishra can contribute to shaping policies that encourage sustainable development and economic growth within the BRICS nations.

Contribution to Ganga Realty:

As a governing body member of the BRICS Chamber and the director of Ganga Realty, Mr. Mishra’s knowledge, and expertise are invaluable assets to the company. His extensive experience in managing large-scale projects across different sectors and geographies, including collaborations with prestigious luxury brands, positions Ganga Realty for continued success. Mr. Mishra’s expertise facilitates the company to benefit from his ability to drive the success of its projects and operations.

Final Thoughts

With Mr. Neeraj K. Mishra’s appointment to the governing body of the BRICS Chamber of Commerce and Industry, there is great potential for advancing economic cooperation among member nations. His expertise in sustainable architecture and project management will likely contribute to the formulation of effective strategies that promote sustainable development and innovation.

By leveraging the Chamber’s collective influence, Mr. Mishra can play a pivotal role in enhancing trade relations, reducing trade barriers, and attracting investments that drive inclusive growth and prosperity for all BRICS nations.

Enquire Now

Recent Posts

GST on Real Estate Sector in India: The Impact of GST on Land & Property
06 March 2025|6 Minutes Read

GST on Real Estate Sector in India: The Impact of GST on Land & Property

GST on real estate has significantly impacted the sector since its initiation in 2017, completely transforming India's taxation system. The real estate sector is one of those most affected, making it essential to understand the complexities of GST for properties while buying a house or investing in your dream property. In this post, we’ll talk about the impact of GST on real estate. It focuses mainly on residential and under-construction properties. Several critical concepts, such as GST rates and differences in GST between commercial and residential property, are also in the scope of this blog. Let us get started! What is GST on Real Estate Sector? GST is an indirect tax that is levied on the supply of goods and services. GST is applicable only to the extent of sales and purchases of property, especially as it relates to under-construction property in the real estate sector. It excludes the sales of properties already completed or of land. This difference is essential for buyers and investors because it changes the overall cost of property transactions. GST Rates on Real Estate in India ParticularsGST RateReady-to-Move PropertiesNo GSTUnder Construction Properties (houses bought under credit linked subsidy scheme)8%Under Construction Properties (excluding the other)12%Resale PropertiesNo GSTLand Purchase and SaleNo GSTWorks Contract18%Composite Supply of Works18%Composite Supply of Works to Govt Authority12%Composite Supply of Works for the General Public12%Composite Supply of Works Contract for Affordable Housing12% A Complete Overview of GST on Real Estate Sector The Goods and Services Tax (GST) has made the taxation in the real estate sector comparatively easy to understand. It impacted under-construction properties, affordable housing, and rental income. Understanding its implications is essential for real estate players investing in properties. 1. GST for Under Construction Properties GST for properties has changed the way the tax system works in real estate. There previously existed several more taxes, like VAT, service tax, and stamp duty, which were subsumed under GST, making a single tax with greater clarity but increasing the GST for under construction property in many cases. As per current policies, the GST for property intended for residential use and GST for under construction property is now at 12%, with an effective rate of 1% for affordable housing. The rate includes the costs of land or an undivided share of land, as long as the costs are at least one-third of the total amount charged by the developer. The GST rate remains unchanged whether the property is for commercial or residential use, however, tax implications can vary depending on the purpose of the property. 2. GST on Completed Properties and the Land There is no applicability of GST on completed property or land. GST rate on residential property is also not applicable. You only need to pay registration charges and stamp duty, which may differ from state to state. This exemption decreases the overall tax burden on buyers. Now that you know this, keep it in mind before buying a property; confirm if it's completed or under construction. This will determine whether GST is applicable or not.  3. Impact of GST on Property Prices The market exhibited a mixed reaction once GST settled and became functional. The input tax credit (ITC) provision enables developers to claim credits for taxes paid on construction materials and services. This reduces construction costs. At the same time, it has also increased the initial cash outlay for buyers since GST rates on under-construction properties are also increased. For example, the GST rate on residential property that is under construction would be 12 %, and someone buying an under-construction residential property might feel this claim bite deep into the overall cost. Buying an affordable housing unit is easier; however, the effective GST rate of 1% has made it more accessible for middle-income buyers. 4. Carpet Area vs Built-Up Area: How GST Affects You Carpet area is what you can use inside the walls of a property. However, the built-up area means carpet area plus thickness of walls, spaces like balconies, terraces, etc. The built-up area is usually taken for charging GST. This means that GST is collected on some areas that the buyer would never even get to use. So, whatever the price quoted for a property, always confirm if it is carpet or built-up. This will have a GST effect.   Also Read:- Difference Between Carpet Area and Built-Up Area 5. GST on Residential Property vs GST on Commercial Property The GST on commercial and GST on residential property under construction is the same; however, tax implications will differ based on the intended use. Buyers acquire commercial property to use the property for business purposes, allowing them to claim input tax credit with respect to GST paid thereon. Residential properties, on the other hand, are generally purchased for personal use, making it harder for them to claim such credits.  GST on Real Estate at a Glance Under-Construction Properties Residential Properties: 5% GST (No ITC) Commercial Properties: 12% GST (No ITC) Ready-to-Move-in Properties No GST but stamp duty and registration fees apply. Affordable Housing 1% GST for properties priced ≤ ₹45 lakh (No ITC) For a ₹40 lakh property, GST = ₹40,00,000 × 1% = ₹40,000. Works Contracts 18% GST on construction/renovation services Example: For a ₹7 lakh contract, GST = ₹7,00,000 × 18% = ₹1,26,000 Commercial Leasing 18% GST on rent (if annual rent > ₹20 lakh) Example: Monthly rent of ₹1,50,000, GST = ₹1,50,000 × 18% = ₹27,000 Residential Properties in Gurugram  If you’re looking for affordable residential properties or luxury residential properties in Gurugram, then Ganga Realty is your answer. They believe in the purity of life and living, and this belief lies at the heart of every project, be it Tathastu born with a vision to provide housing for all, or Anantam, the tallest tower in Gurugram, a project redefining the skyline of the Millennial city. They have it all. Have your pick and enter the life of pure living! Conclusion The GST has changed the way properties are bought and sold in India.  GST makes tax management straightforward by eliminating all the dreaded taxes. But one really needs to look into the fine print of GST before venturing into an attempt to acquire any type of property in India, whether it is residential or otherwise commercial, ready-to-occupy or under-construction, including projects by Ganga Realty, one of the best real estate company in Gurgaon. Frequently Asked Questions

Read More
Union Budget 2025-26: A Game Changer for Indian Real Estate
28 February 2025|6 Minutes Read

Union Budget 2025-26: A Game Changer for Indian Real Estate

The Union Budget 2025 has brought about some exciting changes in the real estate industry in India. The real estate sector is an important part of the economy, it creates jobs, boosts infrastructure, and offers great investment opportunities. The budget 2025 focuses on supporting this sector by lowering taxes, new policies on stalled projects, and assisting homebuyers. In this blog, we will see what the Union Budget 2025 means for everyone. How the Union Budget Will Revolutionise Indian Real Estate The Union Budget 2025 has introduced many measures to revolutionise Indian real estate. The new tax policies are all set to boost the middle housing sector by providing significant tax relief, increased infrastructure spending, and affordable housing schemes. The government has also proposed policies for sustainable development to transform the sector. This change will make the sector more accessible and appealing to both buyers and developers. 1. Homebuyer Tax Relief: More Money to Spend One of the most significant budget announcements was income tax changes for the middle class. The new tax policy will leave people with more money in their pockets. It is excellent news for homebuyers, particularly those seeking mid-range or affordable properties. Due to this more people will think about buying a house because of short and long-term capital gains. The demand for housing projects will most likely rise. Sales will increase for developers as first-time purchasers might feel more confident investing in the market. If you’re planning to invest in real estate- luxury apartment in Sector 85, and luxury apartment in Sector 84 are your go-to destination. 2. A Lifeline for Dead Projects: SWAMIH Fund 2 Stuck housing projects have been a big problem. To fix this, the government has included a policy in the union budget for 2025. The government has launched SWAMIH Fund 2 which injects ₹15,000 crore to complete stalled projects. Here’s why it matters: The waiting homebuyers will finally witness progress. Developers who are having trouble making ends meet will receive financial assistance. This move will restore trust in under-construction properties. Additionally, it will free up trapped investments in the sector and improve liquidity. 3.  Higher TDS Threshold on Rental Income: Good News for Landlords The budget has raised the TDS (Tax Deducted at Source) threshold on rental income from ₹2.4 lakh to ₹6 lakh per year. As a result, landlords will receive more money because less tax will be deducted. There will be less paperwork and trouble for property owners, which could encourage more people to invest in rented properties. Landlords may be able to offer better deals, which could benefit tenants as well. Positive effects are likely to occur in high-demand cities like Delhi and Gurugram. Commercial Real Estate: Ready for Growth For commercial real estate, the budget's emphasis on infrastructure and economic expansion is advantageous. When there is more money available, people are more likely to spend. This will benefit retail spaces, shopping malls, and high-street stores resulting in increased demand for office spaces and commercial properties in emerging business districts. Hospitality and Tourism Real Estate: A Promising Sector The tourism and hospitality industries are expected to expand. This is thanks to: The government plans to develop 50 new tourism destinations. Enhanced e-visa services that make it simpler for foreigners to visit India. Support for MUDRA loans, the promoting homestays, along with other small hospitality businesses. This means more opportunities for real estate investments in hotels, resorts, and tourism-related properties. What Should Real Estate Investors Do? Keep affordable housing which is likely to see higher demand. It is a good time for investors looking to put money into residential projects. Commercial spaces in up-and-coming business areas could see a boost. Rental properties might offer better returns due to the higher TDS threshold. Hospitality and tourism real estate could be a winning bet since the government is boosting the tourism sector. Is Real Estate Benefitting from Union Budget 2025? This budget is very helpful for whoever is looking to invest in the real estate sector. The budget talks about key issues, including tax relief and funds for stalled projects. It paves the way for the industry to expand.  Whatever you’re looking for- to buy a home, invest in rental properties, or explore commercial real estate opportunities, this budget makes it a great time to dive into the market. In a nutshell, the real estate industry is about to undergo positive change. This budget could be a game-changer for everyone involved. Role of Ganga Realty in Developing Real Estate Sector of Gurugram Ganga Realty is playing an important role in shaping Gurugram's real estate sector by introducing high-quality residential and commercial projects. Known for its affordable housing as well as luxury living projects, state-of-the-art technology, and sustainable practices, the company has set new benchmarks in the sector. By focusing on customer-centric solutions Ganga Realty has significantly contributed to the city’s development and infrastructure growth. Ganga Realty is all set to be the best real estate developer in Gurugram by all means! Frequently Asked Questions 1. How does the Union Budget 2025 impact affordable housing? The Union Budget 2025 offers tax relief for developers, reduction in GST, and construction materials. The Government's initiave PMAY improves affordable housing by increasing funding. This initiative will make affordable housing more accessible to low and middle-class group. 2. Will there be tax benefits for homebuyers under the Union Budget 2025? Yes, the budget introduces higher deductions on home loan interest rates and additional tax benefits for first-time buyers, encouraging homeownership and reducing the financial burden on buyers. 3. How will the Union Budget 2025 support real estate developers? The budget offers easier access to credit, reduced corporate taxes for affordable housing projects, and easy approval processes, enabling developers to accelerate project completion and reduce costs. 4. Are there any initiatives for urban planning and smart cities? The Union Budget 2025 has something for everybody. This budget has allocated significant funds for smart city projects. This move is to focus on sustainable infrastructure, digital connectivity, and efficient urban planning. 5. How will the Union Budget 2025 impact property prices? Increased infrastructure spending and affordable housing incentives may stabilise property prices in the short term, while long-term demand growth could lead to moderate appreciation in key markets. 6. How will the budget affect commercial real estate? The Income Budget 2025 will provide the commercial real estate sector a boost through incentives for REITs, infrastructure development, and tax benefits for office spaces, boosting demand for retail, office, and industrial properties. The Union Budget 2025 offers tax relief for developers, reduction in GST, and construction materials. The Government's initiave PMAY improves affordable housing by increasing funding. This initiative will make affordable housing more accessible to low and middle-class group.

Read More
--> -->