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Real Estate Body Wants Reduction In Home Loan Interest To Boost Sales
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Real Estate Body Wants Reduction In Home Loan Interest To Boost Sales
Publish on : 2020-01-28 13:12:36
The Real Estate Industry Has Urged The Government To Reduce Interest Rate On Home Loans To 7% And Increase Income-Tax Deduction For Interest Paid On Housing Loan To Rs 5 Lakh To Help Revive Demand After Home Sales Grew Just 1% In 2019. Presenting Its Wish List For The Upcoming Union Budget, Industry Body National Real Estate Development Council (Naredco) Has Also Asked The Government To Redefine Affordable Housing To Extend Tax Benefits To Bigger Houses That Cost More Than Rs 45 Lakh. A Representation In This Regard Has Been Given To The Finance And Housing Ministry. Developers Pointed Out That A Revival In Housing Industry Will Also Help The Overall Economy Regain Its Growth Momentum. “Fiscal Stimulus To The Real Estate Sector Will Have A Manifold Effect On 269 Allied Industries With Multi-Dimensional Impact On Enhancing The Gdp Growth Inclusive Of Employment Creation,” Said Niranjan Hiranandani, National President Of Naredco. “In This Budget 2020, Indian Real Estate Sector Expects A Holistic Solution Rather Than Piecemeal Solutions That Have Been Offered So Far. Naredco Said The Industry Is Facing Serious Challenges Related To Liquidity Crunch, And It Would Take Bold Fiscal Measures To Resurrect The Reeling Industry.

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