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Blurb: Millions pay their housing maintenance bills each month without realizing they might be paying too much — or too little — in GST. Here’s the fine print that every resident and committee member should know. The Feature: Every month, thousands of residents across India pay their maintenance bills without a second thought — ₹6,000, ₹8,000, sometimes more. Hidden within those payments lies one of the most persistent areas of confusion in community finance: GST on building maintenance. On paper, the rule looks straightforward. Resident Welfare Associations (RWAs) or housing societies must charge GST at 18% only when two conditions are met: Each flat’s monthly contribution exceeds ₹7,500, and The society’s total annual receipts — from maintenance, sinking funds, and other charges — cross ₹20 lakh. If either condition isn’t met, GST doesn’t apply. Simple enough, yet confusion is widespread. “Compliance without understanding is as risky as non-compliance.” Over the years, I’ve seen housing committees swing between two extremes — over-compliance and under-compliance. A society in Pune, for instance, with 150 flats contributing ₹8,000 each, crossed both limits yet never registered under GST. When they finally reviewed their accounts, they discovered a tax liability of nearly ₹9 lakh. At the other end, a smaller society in Nagpur with only 20 flats registered voluntarily and paid GST for three years — though their turnover never touched ₹20 lakh. Both situations stemmed from the same root cause: decisions based on hearsay rather than financial clarity. Where GST is applicable, societies often overlook an important benefit — the Input Tax Credit (ITC). This provision allows them to offset tax paid on services such as security, housekeeping, lift repairs, or even generator maintenance, effectively reducing their overall outflow. But to avail this, vendor invoices must carry the society’s GSTIN and proper accounting discipline must be maintained. The broader lesson here is that GST on maintenance isn’t a tax trap; it’s a test of governance. When understood correctly, it pushes societies to maintain transparency, proper records, and periodic turnover reviews. The intent of the law is not to burden residents but to bring financial order to collective living. As Indian cities continue to rise vertically and housing societies evolve into complex financial ecosystems, financial literacy at the management level becomes vital. After all, whether in business or community living, clarity remains the purest form of compliance. Quick Facts: GST & Housing Societies Aspect Key Point Applicability Both ₹7,500/month per flat and ₹20 lakh annual turnover must be exceeded GST Rate 18% (9% CGST + 9% SGST) Exemption If either condition not met, no GST applies Input Tax Credit Allowed for registered societies on eligible maintenance expenses Common Error Registering prematurely without crossing ₹20 lakh turnover Best Practice Review turnover quarterly and ensure vendor invoices quote the society’s GSTIN Ajinkya Chaudhary, Virtual CFO Hishobnis Services Pvt. Ltd.

NAREDCO Maharashtra Donates ₹3.12 Crore to Chief Minister’s Relief Fund To Support Flood-Affected Farmers Across Maharashtra A gesture of solidarity to help rebuild lives and livelihoods in Maharashtra’s agrarian heartland Mumbai, October 29, 2025: In a heartfelt expression of solidarity with the farming community, the National Real Estate Development Council (NAREDCO) Maharashtra has contributed ₹3.12 crore to the Chief Minister’s Relief Fund to support relief and rehabilitation efforts for farmers affected by the devastating floods across Maharashtra. Of this total contribution, ₹1 crore was donated by Pune members, while the remaining amount was collectively contributed by Mumbai MMR members of NAREDCO Maharashtra. The recent torrential rains and flash floods wreaked havoc across key agrarian districts including Kolhapur, Sangli, Satara, Nashik, Raigad, and Ratnagiri — destroying vast swathes of farmland, submerging homes, and leaving thousands of families struggling to rebuild their lives. For countless farmers, months of hard work and investment were washed away overnight, resulting in severe financial and emotional distress. Recognizing the gravity of the situation, NAREDCO Maharashtra has stepped forward to support the state government’s mission to bring relief to these affected farming families. The ₹3.12 crore contribution, made collectively by around 20 NAREDCO Maharashtra members, is aimed at helping restore livelihoods, rebuild homes, and provide essential support to farmers as they recover from this unprecedented natural calamity. Speaking on the occasion, Mr. Prashant Sharma, President, NAREDCO Maharashtra, said “Maharashtra’s farmers — our revered Annadata — are the backbone of our state’s economy, providing sustenance and strength to millions. The recent floods have not only damaged crops and farmland but also shaken the spirit of countless families. Through our humble contribution to the Chief Minister’s Relief Fund, we wish to stand shoulder-to-shoulder with our farmers and support the government’s tireless efforts in ensuring relief, rehabilitation, and recovery.” “This initiative is a reflection of our collective gratitude to the community that feeds the nation. We sincerely hope that our contribution helps bring some relief and hope to those whose livelihoods have been most affected,” he added. NAREDCO Maharashtra expressed its heartfelt gratitude to its members and leaders who came together for this noble cause. Over the years, the organisation has been at the forefront of various social and humanitarian initiatives — from disaster relief to community welfare — reaffirming its belief that true progress lies not only in developing cities but also in uplifting the rural and agrarian fabric of the state. As the state government continues its large-scale relief operations — having already disbursed over ₹8,000 crore to nearly 40 lakh flood-affected farmers — NAREDCO Maharashtra has pledged continued support and awareness to mobilise further assistance for those who nurture the land and feed the nation. This contribution stands as a testament to NAREDCO Maharashtra’s commitment to compassion, collaboration, and community rebuilding — ensuring that Maharashtra’s farmers rise again, stronger and more resilient than ever.

Mumbai/Pune, 16th October 2025: Traditionally, the real estate sector launches new housing projects during the festive season of Dussehra and Diwali. This year is no exception. In order to enable launch of new housing projects on the auspicious occasion of Dussehra, the Maharashtra Real Estate Regulatory Authority or MahaRERA issued a record number of registration numbers. Additionally, MahaRERA granted extensions as well as permitted corrections to the existing projects in line with the proposed plans as submitted by the respective developers. A total of 809 applications were approved by MahaRERA to issue new registration numbers, extend the timelines and make corrections to the existing ones. To make the record happen, the entire workforce at MahaRERA worked round the clock. On the eve of Dussehra alone, 200 projects were granted certificates of approval. This is the first time such a large number of new housing projects have received MahaRERA registration numbers during Dussehra. Out of the 809 projects, 405 received new registration numbers, the deadline of 209 projects were extended and 195 proposals for corrections to the existing projects were approved. The most number of projects came from Pune city alone at 122. From the other areas of Pune region 6 were from Satara, 4 each from Kolhapur and Sangli and 3 from Solapur. The entire Mumbai Metropolitan Region, including the Greater Mumbai limits, accounted for 197 projects. This included 63 from Mumbai city and suburbs, 58 from Thane, 41 from Raigad, 22 from Palghar, 9 from Ratnagiri and 4 from Sindhudurg. From Vidarbha, 31 projects were approved, including 20 from Nagpur, 5 from Amravati, 4 from Akola and 2 from Chandrapur. From the region of Khandesh, 29 projects were approved, with 23 from Nashik, 5 from Ahilyanagar and 1 from Dhule. Comparatively, Marathwada saw 9 projects getting approval, this includes 5 from Chhatrapati Sambhajinagar, 3 from Jalna and 1 from Latur. Between April 25 and September 25, that is within 6 months, 4,940 project proposals were approved by MahaRERA. Of this, 2,039 new housing projects were issued registration numbers. In addition, 1,748 proposals for timeline extensions and 1,153 for corrections in the existing projects were also accorded approvals. In the real estate industry, the auspicious festive occasions of Dussehra and Diwali hold equal importance. Therefore, MahaRERA is ensuring that the housing projects that meet the legal, technical and financial criteria as set by the regulator are granted the nod. For this, the entire system of MahaRERA’s registration department is making due efforts.

CREDAI- MCHI Organizes First-of-Its-Kind Industry Initiative ‘Real Estate Leaders’ Convergence’ —to Unite Real Estate Bodies, Drive Policy Reform, and Accelerate Ease of Doing Business Mumbai, October 06, 2025 — In a landmark move for India’s real estate sector, CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region (MMR), under the visionary leadership of its newly elected President Sukhraj Nahar, has organised the Real Estate Leaders’ Convergence — a first-of-its-kind initiative uniting leading real estate bodies like NAREDCO, BDA, PEATA and CREDAI MCHI by bringing them together on a single platform. The historic coming together is designed to foster unity, drive policy reforms, harmonize regulations, and enhance the Ease of Doing Business in real estate. By bringing together diverse industry voices, the Convergence showcased CREDAI-MCHI’s commitment to building consensus, resolving bottlenecks, and creating a powerful collective voice for dialogue with policymakers. The gathering marked a shift from fragmented advocacy toward unified strength, emphasizing the need to move beyond short-term gains and focus on shaping a resilient, sustainable, and globally competitive Mumbai. With this bold step, CREDAI-MCHI in collaboration with NAREDCO, BDA & PEATA aims to set a transformative agenda for the sector, fostering growth and bringing about Ease of doing business for developers, culminating into benefits for homebuyers, and the city. Instead of operating in silos, participating organizations have pledged to speak with a unified voice. A Joint Task Force, comprising representatives from each body, will channel collective industry inputs, prioritize reforms, and engage directly with government authorities. The Task Force’s work will align closely with Ease of Doing Business reforms—ensuring faster approvals, streamlined processes, and greater transparency. The state is expected to formally constitute a Chief Minister’s Committee, to enable regular formal and informal consultations/discussions with the Honourable Chief Minister, Shri Devendra Fadnavisji in relation to all aspects of the Real Estate Industry for enabling decisive action on various policy issues. Sukhraj Nahar, President, CREDAI-MCHI, drew on the and symbolism of the gathering and the excitement amongst its participants, stating “For too long, every association has marched to its own drum—battling regulatory obstacles in isolation, incurring huge legal fees whilst fighting the same causes but separately. The time has come where we shirk our inhibitions and our reservations of the past. We must pool our knowledge, our capital, our energy for the common benefit of the industry. Let our common voice amplify and echo within the corridors of Power. There is so much strength in unity and we must project this unity in its truest form to build greater credibility with the government and various other stakeholders. The issues discussed in the convergence were bifurcated in UD, MCGM, MHADA, SRA, Environment, UDCPR & other ULBs. Key priorities emerging from the discussion include streamlining approval procedures (from IOD to CC and OC), digitizing regulatory processes to bring about transparency, and locking in rules once a project is approved to shield developers from subsequent ad hoc changes. Participants emphasized the need to bring about better coordination among agencies like environment, civil aviation, municipal planning and various sanctioning authorities like MCGM, MHADA, SRA, MMRDA, CIDCO, MMRDA etc—to prevent projects from being caught in conflicting mandates. Premiums remained a burning issue amongst attendees, wherein consensus view was that there was a need to restructure the payment schedule of premiums in 10:10:80 format rather than reducing the same. Reducing premiums would hamstring the Governments ability to take on transformative projects for the city, with the Atal Setu, the coastal road, freeways & metros, all testament to premiums being put to good use. Restructuring of payment schedule whilst a revenue neutral proposal for the Government, would ensure that the project cash flows pay for the premiums rather than burdening the Developers for the same. Rushi Mehta, Secretary, CREDAI-MCHI, echoed the sentiments of the summit, “coming together of associations is but the first step in enabling and moving towards Ease of Doing Business for the Real Estate Industry. The heart, centre and core of this movement should be the ultimate welfare of the customer and all initiatives should be driven towards achieving the same.” As the issues raised piled on thick and fast, Mr Mehta urged the leaders at Convergence Meet, that we as a Developer Fraternity have a higher responsibility of building a great city, a liveable city, one where our future generations can thrive and proudly call its own and this has to be our single-minded focus even if its sometimes at the expense of maximisation of Profit or FSI consumption. CREDAI-MCHI, through this initiative, has positioned itself as a champion of Mumbai’s real estate and a driving force for industry-level unity, coherence, and sustainable growth. With this convergence, CREDAI-MCHI has signalled a new era of collaborative leadership and forward-thinking reform, setting benchmarks not just for MMR but for the entire Indian real estate landscape. CREDAI-MCHI is the apex body of real estate developers in the Mumbai Metropolitan Region. (MMR). With an impressive membership of over 2200+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibaug, Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognised body for private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the industry’s organisation and progress. The association is committed to driving policy reform, housing innovation, and sustainable development in partnership with the government and urban stakeholders. As a part of CREDAI National, an apex body of 13000 developers across the nation, CREDAI-MCHI has emerged as a preferred platform for regional discussions on housing and habitat by establishing close and strong ties with the government. It is committed to breaking barriers to create a strong, organised, and progressive real estate sector in the MMR.The vision of CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan Region as it preserves, protects, and advances the right to housing for all. To continue being a trusted ally, guiding their members, supporting

Pune, 6th October 2025: CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today announced the findings of its report, ‘CBRE India Office Figures Q3 2025’, highlighting that the office space leasing in Pune stood at 3.2 mn. sq. ft in the July-September quarter reflecting a 68.4% growth year-on-year. The leasing was mainly driven by Engineering & manufacturing sector which accounted for 42% of the city’s total leasing. It was followed by Flexible space operators (19%) and Technology (15%). Pune has also emerged as a major hub for GCCs, accounting for 25% of the total leasing by these centres during Jul–Sept 2025. On a pan-India basis, the office leasing reached 59.6 million square feet (mn. sq. ft.) in the first nine months of 2025 – the highest ever during this period. The report added that technology companies held the highest share in office leasing between January and September. “This record-breaking performance reflects the resilience and evolving dynamics of India’s commercial real estate sector,” said Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa at CBRE. “As occupiers seek future-ready spaces, sustained preference for flight-to-quality assets continue to anchor this momentum. Going forward, the sustained leasing in premium assets is expected to drive vacancy compression and occupiers are likely to continue exploring peripheral locations, driven by the infusion of high-grade supply.” According to the report, Bengaluru emerged as the frontrunner in the office space absorption during Jan-Sept 2025, accounting for 25% of the total with 15.1 mn sq. ft. leased. Mumbai and Delhi-NCR followed with the leasing of 10.6 mn. sq. ft. and 10.2 mn. sq. ft. respectively. Together, these three key markets represented about 61% of the overall office leasing during the period. Global Capability Centres (GCCs) continued to be the main drivers of the office demand during Jan-Sept 2025, accounting for almost 39% of the total leasing. Bengaluru followed by Pune and Delhi-NCR together accounted for 67% of the total GCC leasing. Among all sectors, technology firms accounted for the largest share of leasing in 9M 2025. It was followed by flexible space operators and BFSI companies. Cumulatively, these three industries alone accounted for a cumulative share of 60% during Jan-Sept’25. Ram Chandnani, Managing Director, Leasing, CBRE India, said that GCCs would remain pivotal to office absorption, accounting for 35-40% of total leasing in 2025. “Established players might continue taking up space in large integrated tech parks, while new entrants are expected to leverage flexible spaces. While US firms currently dominate the GCC landscape, rising interest from EMEA and APAC occupiers is anticipated to widen the demand base,” he added. During Q3 2025, office sector leasing stood at 19.9 mn sq. ft. The supply stood at 13.6 mn sq. ft. Bengaluru spearheaded office absorption in Jul-Sept’25 with a 22% share, closely followed by Mumbai at 20% and Delhi-NCR at 19%. As the demand for quality spaces rises, the supply has also seen an uptick with developers responding by delivering green-certified, amenity-rich campuses that align with the ‘flight-to-quality’ strategy. During the first nine months of this year, the supply rose 10% year-on-year to 41 mn. sq. ft. It was led by Pune, Bengaluru, and Delhi NCR, with a combined share of 66%. “The current year is expected to conclude with a consistent pipeline of high-quality office stock, with Bengaluru, Hyderabad, and Delhi-NCR at the forefront,” Magazine added.

Pune, 4th October 2025: The Navratri festival proved to be lucrative for the Registration and Stamp Duty Department, with 11,234 property deeds registered over ten days, generating revenue of Rs 407 crore. Punekars celebrated Vijayadashami by investing in properties, including flats, during the Navratri and Dussehra period. From September 23 to 26, more than 1,500 deeds were registered daily across the 27 secondary registrar offices in the city. From September 29 to October 1, registrations ranged between 1,300 and 1,500 deeds per day. On other days, the city typically registers 800 to 1,000 deeds. “This year, deed registrations during the Navratri festival increased by one and a half times compared to previous years,” said Pune City Sub-District Registrar Santosh Hingane. The surge reflects a growing trend among Punekars to invest in real estate during festive occasions, combining cultural celebrations with financial planning.