Budget may announce industry status for realty sector
The entire real estate sector is waiting to see the pros and cons of realty budget 2012. Lot of hope and expectation is rising in this sector.
It is reported that the realty sector is the second largest to generate employment and about 5 percent of the total GDP of the country is contributed by realty sector.
However, the fact is that if the sector is granted with industry status, developers will be able to raise funds at lower rate of interest.
That will definitely reduce the cost of the projects, which will lead to generate more interest among property buyers.
This plan is sure to pave way for the growth of real estate sector for which even the real estate players are hoping to happen at the earliest.
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Source : Economic Times
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