ON REAL ESTATE SECTOR
We are looking forward to the Government’s support towards the real estate sector with tax breaks and an additional incentive since this sector has immense potential to boost general economic activity and create thousands of new jobs, given its upstream and downstream linkages. The real estate sector should be accorded the industry status allowing investments and funds at competitive rates to spur economic growth. Discussions around the Real Estate Bill must reach a positive conclusion which will give home buyers the confidence to return to the market and deal with responsible builders. Furthermore the implementation of GST bill will eliminate multiple levels of taxation and further reform the lengthy approval process that would facilitate speedy project execution. The present limit on the principle and interest amount of home loan repayments for individual buyers should be enhanced too, as this will make it easier for people to purchase their dream homes.