Government initiative is required to increase housing affordability
The real estate market is looking at the coming Budget 2012. the industry is expecting some sensible announcement in the budget, that will increase the affordability of apartments among the buyers.
The industry is in trouble due to high lending rates and increasing cost of construction material.
These incremental prices altogether increase the cost of the projects.
The real estate industry wants reduction of service tax, excise tax and VAT on residential projects.
Those reduction will reduce the cost of residential apartments by 3 to 5 percent.
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Source : The Times of India
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