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Created with Fabric.js 1.4.5 WHAT REALTORS HOPE IN THIS UPCOMING UNION BUDGET It will be appreciated if the interest rates for home loans are reduced which will give an overall boost to the sector& help in bridging the gap between the demand and supply.Further,if the govt initiates steps towards providing special benefits to green & sustainable developments,it will have a profound positive impactas it is the future of real estate industry.This coupled with single window clearance system will help in reducing time for project completion, thereby bringing down the overall cost of construction, After sworn in of Modi government, there is positivity and sales up has been registered. But the government need to take several steps to boost the real estate sector as well. The construction cost is going up. The sector on several platforms have raised the issues and we are hoping in the coming budget, the government will come up with necessary, measures stepsto achieve the desired results,The real estate sector is burdened with high costs because of which there is little possibility of reduction in home pricesin most micromarkets. Construction cost has increased by 40% in two years, while government taxes and premiums have also gone up substantially. This eliminates any scope for reduced prices, despite the weak market. Banks' reluctance to lend to real estate companies has led to increased cost of borrowing, adding to the overall cost, Entire corporate world is eyeing on Narendra Modi ever since he was become PM of India. Now Modi led government is about to present the budget, real estate sector want him to make decisions which can help real estate coming back on track again. Real estate is reeling under slump and the govt. should consider the point of view of developers and buyers both.There is need to takeaction control interest rate and single window system as well. P Sahel, Vice Chairman Lotus Greens India Inc. SS Bhasin, MD, Bhasin group Amit Gupta, MD, Orris Infrastucture
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