Government's Effort May Take Realty Sector to New Heights - Page 2

Government's Effort May Take Realty Sector to New Heights

By siliconindia   |   Thursday, January 10, 2013   |    1 Comments

Samujjwal Ghosh, Head of Marketing, Lodha Group cited that, "The Indian economy slowed down between mid 2011 and mid 2012, but then bottomed out and started rebounding. Also, last year many developers adopted a wait and watch attitude due to changes in FSI norms and approvals, which will now change as the sector will be buoyant this year. This is good news for the industry as well as for customers being a win-win situation for both," reports ET.

According to Lalit Kumar Jain, CMD, Kumar Urban Development and President of CREDAI, if the government comes up with policies in favour of real estate sector like a special housing development policy, then there will be a huge scope for the sector to revive its growth.

"2013 is expected to be vibrant for the realty industry. The need of the hour is quintessential reforms to be passed along with the approval of single window clearance to ensure speedy approval. Matters which urgently need to be addressed include stamp duty, VAT, service tax and labour tax," said Dhaval Ajmera, Director, Ajmera Realty & Infra India.

"The economy will also recover in 2013 which in turn will perk up the real estate sector in India. With the government trying to introduce developer and buyer friendly policies, the outlook for real estate in 2013 does look promising," added Jain.

Also Read: A Quick Guide for Land Investment

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