Govt may extend central aid to spur private investments in housing: Naidu
Minister of Housing and Urban Poverty Alleviation M Venkaiah Naidu on April 20 said that to promote private investments in…
The builders affiliated to The Confederation of Real Estate Developers’ Association are hopeful about the prospect of the industry in 2023 and use of modern technologies in the housing sector. Some of the key points discussed at the meeting, which was held at a star hotel today included restrictions on availing input tax credit for real estate projects, increasing tax exemption on interest for homebuyers and exempting rental income up to Rs 20 lakh per year to encourage homeowners.
The members maintained that the ‘Housing for All’ scheme supplemented by the ‘Affordable Housing Policy’ and Pradhan Mantri Awaas Yojana have really helped many underprivileged families to fulfil their dreams. The apex body of CREDAI meeting comprising CREDAI Bengal, CREDAI HowrahHooghly and CREDAI held 3rd meeting of the executive committee of the governing council of CREDAI National was held today.
Satish Magar, chairman, CREDAI National, Boman Irani, president elect, CREDAI National, Harsh Patodia, president, CREDAI National, Sushil Mohta, president, CREDAI West Bengal were present at the meeting. The meeting was also attended by CREDAI National office bearers and functionaries from various parts of the country along with leading developers of Kolkata & West Bengal.
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Sushil Mohta, president, CREDAI West Bengal and a founder member of West Bengal and national level of CREDAI said , “Kolkata , the cultural capital of India with rich legacy has also proven to be a hub of affordable residential market as well as a major real estate destination. This meeting was a crucial one as various issues like recommendations for ensuing Union budget that is in the making, have been discussed.
Credai has been working to bring good practices in real estate industry championing the cause for the customers at large and industry. We hope it would help the real estate sector move northward significantly.”
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