Thursday, July 3, 2014

Grip Developers India’s Pre- Budget expectations

Quote from Director of Grip Developers India Piyush Gupta on Pre- Budget expectations:

Meerut is one of the developing industrial cities around Delhi and with new airport and proposed metro link, the real estate sector in the city will boom in the coming years. The last two years were bad for realty sector, the new government should concentrate on stable policies and new reforms through which they can curb inflation and bring down EMIs. We expect government to scrap the service tax on under-construction properties as it will reduce overall cost of the property and buyers will have to pay less. Government should concentrate on low cost housing projects as they are the need of the hour and should introduce concessions in affordable housing projects. Also, there is an urgent need for industry status for realty sector as it will be easier the raise funding for the developers.