If you were looking to buy a property in Lucknow for sale like property in Kursi Road, property in Matiyari, etc. then we have some bad news for you. The price of India property Lucknow is all set to increase as the State government has asked the Lucknow Development Authority (LDA) to put into service strictly 1% labour cess on developers and contractors. The cess will be 1 aplicable for all constructions of property in Lucknow for sale like property in Kursi Road, property in Matiyari, etc. worth above Rs 10 lakh. Though developers of India property Lucknow are required pay the cess, it burden will eventually be passed on to the buyer. This is usually the scenario of all India properties.
In India properties any escalation in construction cost is borne by the users. India properties often see a price escalation due to rise in construction costs like increase in raw material costs, land prices, labour costs, increase in duties or charges. The move will hit the sales of property in Lucknow for sale like property in Kursi Road, property in Matiyari, etc. hard as the region is already seeing a slow down. The developers of India property Lucknow are unhappy with the move as the sales and demand of properties will go down further.
The cess will be based on (PWD) Public Works Department's cost of plinth area of construction. The 1% cess has been introduced through central legislation-Domestic Workers Welfare and Social Security Act, 2010. This act makes it mandatory for the all real estate builders contractors, builders or individuals to pay an extra 1% cess of the total construction cost. All the money that is collected through this cess is then forwarded to the labour welfare department for carrying out welfare activities and schemes for laborers.
In India properties any escalation in construction cost is borne by the users. India properties often see a price escalation due to rise in construction costs like increase in raw material costs, land prices, labour costs, increase in duties or charges. The move will hit the sales of property in Lucknow for sale like property in Kursi Road, property in Matiyari, etc. hard as the region is already seeing a slow down. The developers of India property Lucknow are unhappy with the move as the sales and demand of properties will go down further.
The cess will be based on (PWD) Public Works Department's cost of plinth area of construction. The 1% cess has been introduced through central legislation-Domestic Workers Welfare and Social Security Act, 2010. This act makes it mandatory for the all real estate builders contractors, builders or individuals to pay an extra 1% cess of the total construction cost. All the money that is collected through this cess is then forwarded to the labour welfare department for carrying out welfare activities and schemes for laborers.
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