Comments
The Confederation of Real Estate Developers’ Associations of India (Credai) today expressed that the real estate sector has not got the desired importance in the Budget and the affordable housing sector was ignored.
The sector was hoping the Modi Government would iron-out the difficulties faced by the real estate sector to ensure a positive contribution to the development of the country, by providing jobs and achieving the mission “Housing for all by 2022”.
C Shekar Reddy, National President, Credai said, “It is quite disappointing for the real estate sector as Budget has not provided any impetus to the sector. While the sector provides much needed employment, the only provision for the real estate sector is the pass through tax for investments in the Real Estate Investment Trusts (REIT’s) and rationalisation of the capital gains for the sponsors.”
“The Government has allocated Rs 22,407 crore for Housing and Urban Development. The Government envisages a plan to construct two crore houses in rural India, four crore houses in the urban areas towards achieving housing for all by 2022. It is not clear how these targets will be achieved,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.