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Realty sector looks for green shoots Dr Niranjan Hiranandani/Dubai Interest on home loans should be fully allowed under IT deduction without any ceiling. Reuters Dr Niranjan Hiranandani. Supplied photo Naredco, the country’s apex real estate body, shares industry expectations ahead of federal budget due on February 1. In India, the real-estate sector accounts for an estimated seven per cent of the gross domestic product (GDP) and employs around 15 per cent of the total workforce in construction and real estate sector with a multiplier effect on 270 ancillary industries. It is the second-largest employer in the country after agriculture and is also expected to touch a market size of $1 trillion by 2030 and contribute 13 per cent to the country’s GDP by 2025. The construction industry in India ranks third among the 14 primary sectors in terms of direct, indirect, and induced effects in the economy. ....
Tax rationalisation, liquidity enhancement top real estate sector s Budget wishlist While measures announced by the government in 2020 to kickstart the economy have been in right direction, the real estate sector is hoping for upcoming Budget to give a shot on the arm for the beleaguering sector Rukmini Rao | January 25, 2021 | Updated 15:06 IST The real estate sector contributes nearly 8 per cent to the economy Through the course of 2020, the Centre announced several measures such as moratorium on equated monthly instalments, restructuring of loans of real estate companies at project level, setting up of Swamih fund - rescue capital for affordable and mid-income housing projects - along with capital infusion to the National Housing board to help Indian real estate sector . The Reserve Bank of India also announced massive repo rate cut of 140 basis points over the course of time, leading to lowest home loan interest rates in over 15 years. ....