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In a relief to home buyers, the Uttar Pradesh Cabinet has approved the recommendations of the Amitabh Kant committee report on real estate projects that include giving immediate possession and registry of the properties. Uttar Pradesh: Amitabh Kant Panel Report on Real Estate Offers Hope for 1.12 Lakh NOIDA Home Buyers.
SWAMIH Fund: In its letter to the finance minister, Nirmala Sitharaman, NAREDCO reiterated its long-standing request for allowing the option of claiming input tax credit by residential project developers with higher GST.
The builders’ body has also sought the removal of tax on notional rent levied on unsold stock.
NAREDCO urges second tranche of SWAMIH fund, input tax credit under GST, and incentives for rental housing in budget 2024-25., , budget, real estate
The National Real Estate Development Corporation (NAREDCO), the apex body of real estate developers in India, has urged the Union Finance Minister to remove income tax on unsold flats and demand MSME status for access to low interest loans. The developers' body has recommended phase two of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund for stressed projects and ITC under GST for residential projects ahead of Budget FY25.