New Delhi, January 30, 2019:
Mr. Rishi Jain, Managing Director, Jain GroupWith the Union Budget approaching, we feel that the rate of GST applied for the real estate sector needs to be revised so that the people at large wanting to buy their own house benefit.
Mr. Sanjay Jain, Group Managing Director, Siddha GroupWith the Union Budget 2018 announcement right around the corner, our key expectations are for a better budget allocation and faster processing on ground for the CLSS scheme will be appreciated as that will benefit both customers and realtors. It will help customers in purchasing and encourage realtors. GST levied on under construction properties can be expected to be reduced to encourage buyers. Developers are hoping for the grant of an industry status which will boost activity and catalyze institutional funding. If limits can be raised for NBFC for financing projects, it will be easier for developers in terms of funding. Multiple interest on subsidy scheme through the Pradhan Mantri Awas Yojana for EWS, LIG and MIG groups has been announced in the past years. This will definitely increase the demand for housing in the market. But we further hope that interest rates on home loans will be addressed to make housing affordable for everyone. Single window clearance also needs to be taken into consideration for faster implementation and execution of projects. Overall, we will wait and watch to see how the union budget impacts the realty sector.
Corporate Comm India(CCI Newswire)
