Reduce tax burden on construction industry to spur economic activity, CREDAI urges Union and Andhra Pradesh governments – The Hindu

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Confederation of Real Estate Developers Association of India (CREDAI) State vice-president K. Subhash Chandra Bose on Tuesday urged both the Union and the State governments to reduce tax burden on the construction industry which was in second place in creation of job opportunities after agriculture in the country. He said that the government’s wholehearted support would spur economic activity which was needed to strengthen 200 organisations connected to the real estate sector. CREDAI’s three-day property exhibition was concluded here on Tuesday evening.

Speaking on the occasion, Mr. Subhash urged the government to reduce registration charges to 5% from existing 7.5% as market values of land were enhanced significantly. He has also urged the government to provide sand at below ₹2,000 per unit since its cost was around ₹8,000 in the market. “The Union government has to reduce GST on cement and other construction material. Then only common people would come forward to buy apartments and individual houses,” he added.

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State Bank of India Regional Manager Ch.Vijay Subrahmanyam and Chief Manager K.V. Vijay Kumar (Home Loans wing) expressed happiness over the positive response from prospective buyers and bookings in the property exhibition.

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