[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
In the backdrop of the disruption caused by Covid-19, the government will look into the
demands of the real estate industry, including an extension of project completion timeline
by 6-9 months and extension of building permissions secured already, Ministry of Housing
and Urban Affairs secretary Durga Shanker Mishra said.
“We will look into the suggestions after studying them in detail,” Mishra said while interacting
with realty developers through a web conference organised by industry body Naredco.
The developers’ body urged him to extend all building permissions, secured so far, till March
2023, rationalise government taxes on real estate and keep a check on the rising prices of
key input materials like cement and steel.
Developers sought reintroduction of the interest subvention scheme, grant of input credit
tax on GST paid on leased commercial real estate, suspension of insolvency law for some
more time and an online environment clearance process. They also want the government
to bring the Rental Housing Act into force to build traction in that segment.
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Have a nice day