Budget 2013-14: Realty Sector Demands Changes

4) Provisions for subsidized construction materials:

The construction prices are heading north and it has increased over 50 percent alone in the past two years. Besides, the rising input costs have landed developers in cash crunch situation and they are facing challenge in project completion. Not only there is a hike in construction charges but the increase in external and internal development charges, license charges and usage of land charges from various departments. This in turn is increasing the real estate prices across the country. So, there should be provisions for subsidized construction materials for budget housing in the budget.

5) Enable the Real Estate Regulatory Bill:

The government is expected to come up with the real estate Regulatory Bill in the upcoming Budget session of the Parliament in order to regulate the real estate sector. This bill needs to come into effect as soon as possible because government has been pushing this bill since 2009. The aim of this regulatory bill is to establish a regulatory authority to impose transparency and fair practice in realty transactions.

Also Read: What's In Store for Indian Real Estate in 2013?