FICCI wants industry status for realty sector in Budget 2013
New-Delhi- With just few more days left for the Budget-2013, the Federation of Indian Chambers of Commerce and Industry (FICCI) has insisted the authorities for an industry status for the real estate sector.
The FICCI demands an industry status for the realty sector for the easier availability of funds to be used to avail long term and short term finances. Apart from just the industry status demand, the FICCI also demanded for an infrastructure status for the development of integrated townships.
According to an FICCI official, an integrated township focuses on the development of residential, commercial, institutional, educational and medical units. Apart from developments of the units, other facilities like sewerage system, sanitation, water treatment, water supply and other civic agencies should be provided.
He further stated that while according approval, the State Government particularly addresses that the development projects including all the services and facilities will be given over to respective bodies and will not stay with the developer. Hence the integrated townships are in par with the BOT (Built, Operate & Transfer) projects.
The FICCI further has requested that the integrated township development projects should be brought within the definition of infrastructure to focus on the above factors which will help in motivating the genuine real estate firms which can come forward and enter in to the promotion and development of large integrated townships along with preparations for the mitigation of the huge housing shortage problems. They demand for the integrated township development projects to be brought under the definition of infrastructure.
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Real estate wants industry recognition
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availability of funds, Budget-2013, development of integrated townships, Federation of Indian Chambers of Commerce and Industry (FICCI), industry status for the real estate sector, Infrastructure status, integrated township development projects, Integrated townships, New Delhi
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