NAREDCO delegation meets FM to put forth demands for real estate revival

Industry body National Real Estate Development Council (NAREDCO) met Finance Minister Arun Jaitley on Tuesday to discuss aspects which are necessary for the revival of the real estate sector.

Among the industry body's top suggestions were granting infrastructure status, re-introduction of section 80IB (10) of I-T Act, raising home loan interest deduction to Rs 4 lakh and restoration of tax exemptions to SEZs.

"He (Arun Jaitley) told us that government has decided to create two crore housing units to kick start the economy, achieve higher GDP growth, create more jobs and above all provide shelter to all," NAREDCO said in a statement.

Sunil Mantri, president, NAREDCO, with few other key members, met the finance minister and emphasized that housing should be included in the infrastructure definition under Section 80IA of I-T Act 1961 as it has the potential to improve funding of housing projects and augment supply of housing which will help in meeting the target of housing for all by 2022.

Read Full Story: NAREDCO delegation meets FM to put forth demands for real estate revival

Office space in Varanasi, Commercial office space in Varanasi, Office Space for Rent in Varanasi, Commercial office space for lease in Varanasi, Buy office space in Varanasi, real estate company in Varanasi, real estate property in Varanasi