Real Estate Sector sends a pre-budget wish list to the F.M
Getamber Anand the president (elect) of CREDAI and the CMD of ATS group stated that CREDAI (The confederation of Real Estate Developers’ Association of India) has sent a proposal to finance and urban development ministries to fulfil the long lasting demands of the real estate sector.
Due to poor policies and economic downturn globally, the real estate sector was reeling under slump in India as well as across the globe. In the upcoming budget, they are expecting some policy and tax reliefs which will put the sector back on track.
Infrastructure status for the real estate sector, exemption from the tax and less formalities to obtain home loans for the buyers are some of the demands of the guild. Apart from CREDAI other developers working in Western UP which includes Noida and Greater Noida have sent proposal.
P Sahel the vice chairman of Lotus Greens Developers mentioned that considering the lower growth rate of the economy in the last few years, and the GDP being at all-time low, the forthcoming Union budget is very critical and every industry sector is pinning hopes on it.
Sahel also mentioned that the industry is waiting for that the new budget will bring in reforms and roll out more friendly policies. Some of these could be reforms for allocation of funds to developers at lower rates which in turn will help the developers to complete the projects on time. Incentivisingthe developers who are adapting practises for sustainable developments should be a positive move towards the ‘’housing for all by 2022’’ goal.
Source- The Times of India
Confederation of Real Estate Developers' Association of India, CREDAI, Getamber Anand, Urban development ministry
