Real estate developers demand solution to liquidity, rationalisation of taxes from Modi 2.0 government

The real estate developers have demanded from the Modi 2.0 government to redress and resolve the prolonged issue of liquidity crisis that the sector is facing currently. The industry insiders say rationalising the taxes by subsuming stamp duty under GST will be a big relief to homebuyers. The sector expects the new government to lay emphasis on re-energising reforms related to infrastructure investment, land acquisition reforms and speeding up the regulatory functions of the state.

Speaking on the wishlist of real estate from the new government Dr. Niranjan Hiranandani, National President at NAREDCO said, "The Indian Real Estate industry is hopeful that the Modi 2.0 government will redress and resolve the prolonged issue of liquidity crisis that the sector is facing currently. Moreover, rationalising the taxes by subsuming stamp duty under GST will grand a big relief to the home buyers. We highly recommend the National Housing Policy to boost rental housing in order to fulfill the ambitious target of Housing for All by creating surpluses. Furthermore, under the decisive leadership of the Hon’ble prime minister, the nation will be able to unleash workforce opportunities in the sector that will help the nation to continue as the world’s fastest growing economy."

Standing in sync with NAREDCO, Rohit Poddar, Managing Director, Poddar Housing and Development said, “The sector expects the new government to emphasise more on re-energising the reforms related to infrastructure investment, land acquisition reforms and speeding up the regulatory functions of the state. A better clarity over the norms for infrastructure projects which involve diversion of forest land for non-forestry purposes is recommended. The sector hopes better stability in the regulatory norms without too many changes.”