Real es­tate: the de­mands

HT Estates - - FRONT PAGE -

Tax ben­e­fits on home loan in­ter­est: The pol­icy of ad­di­tional in­come tax de­duc­tion of ` 1 lakh for a home loan of up to ` 25 lakh ex­pired in March 2014. Both the de­duc­tion and thresh­old limit should be in­creased

Sin­gle- win­dow clear­ance: A builder has to get ap­provals from var­i­ous gov­ern­ment de­part­ments be­fore start­ing con­struc­tion. This in­cludes lay­out ap­proval, en­vi­ron­ment clear­ance, build­ing-height sanc­tions etc. These are very time-con­sum­ing and de­lay de­liv­ery dead­lines

No mul­ti­plic­ity of taxes: A home­buyer pays mul­ti­ple taxes at var­i­ous stages af­ter buy­ing an apart­ment in an un­der-con­struc­tion group hous­ing project. This in­cludes ser­vice tax, value-added tax and stamp duty

Fi­nal­is­ing draft REIT: Cre­ation of a real es­tate in­vest­ment trust (REIT) would bring in a new source of cap­i­tal to the cash-strapped sec­tor. It would help de­vel­op­ers utilise such funds to de­liver res­i­den­tial projects

Lib­er­al­is­ing for­eign in­vest­ment: For­eign in­vest­ment con­tin­ues to be an im­por­tant source of cap­i­tal and needs to be en­cour­aged. For that, the new gov­ern­ment should lib­er­alise for­eign in­vest­ment guide­lines for the sec­tor

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