Real estate looks for policy support for recovery, smooth functioning



Exemption extension under Section 80C of the Income Tax Act to invest in REIT and a hike in tax rebate from Rs 2 lakh to Rs 5 lakh on housing loan interest rates are also on the wishlist of the realty sector.


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Exemption extension under Section 80C of the Income Tax Act to invest in REIT and a hike in tax rebate from Rs 2 lakh to Rs 5 lakh on housing loan interest rates are also on the wishlist of the realty sector.

Indian Union Budget 2021-22: Hit hard by the pandemic, almost all industries reeling under the current slowdown have set their eyes on this year’s budget, and real estate is no exception. The realty sector, which contributes more than 8{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} to the Indian economy and is the second-largest employer after agriculture, is looking for a big push from the government in the form of policy support for its recovery and smooth functioning.

Industry experts say that although the government has announced various measures in recent months to beat the unprecedented impact of COVID-19 on the overall economy and the realty sector, however much more remains to be done to put real estate back on track.

Amarjit Bakshi, CMD, Central Park, says, “In an attempt to keep the economy rolling amidst the pandemic, the government has already taken several concrete steps in terms of fiscal and policy support. We expect the Union Budget 2021

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