Realty

Realtors to press for demands once again; want interest rate cut

Corporate Bureau
Posted: Monday, Dec 22, 2008 at 0057 hrs IST
Updated: Monday, Dec 22, 2008 at 0057 hrs IST

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Realty firms on hiring spree again DLF profit crumbles 77%Realty demand up 15% in Q2 ‘Property rates to fall 25% in 12-15 months’

New Delhi: like special economic zones (SEZs) which will have plenty of tax exemptions.

Brick-by-brick

• National Real Estate Development Council members met Montek twice last week. To meet him again this week

• The main demands include lowering of interest rates, restoration of 80 IB, giving infrastructure status to the real estate sector

• Other demands include restructuring of debt, increasing the debt moratorium by one year, giving tax rebate to home buyers up to Rs 3 lakh

• Realtors demand there should be 50% tax concession on the rental income of the general category and 100% concession for senior citizens and women

• Developers think if tax rebate is extended upto Rs 3 lakh compared to the present Rs 1.5 lakh, it will act as an incentive for home loan buyers to invest in homes...

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