Pre-budget expectations for real estate industry from Sankey Prasad, Chairman and Managing Director, Synergy Property Development Services

New Delhi, June 28, 2019: “In the current fiscal, the government has taken several corrective steps like lowering repo rate by 25 bps for 3rd time, new GST structure for real estate etc., to revive the real estate and infrastructure sectors. However, the overall industry momentum has decelerated due to the prevailing liquidity crisis, resulting in a lower uptake in the housing demand in India. It is therefore paramount for the upcoming budget to address this issue, while also subsuming of stamp duty in GST, to provide the much-needed impetus to the industry. Also, the government should consider providing ‘industry status’ for construction sector, which will enable developers to avail finance at lower cost and hence bring a positive drive to the on-going and new projects.”

Corporate Comm India (CCI Newswire)