To bring up the market of realty and to encourage the housing of low cost a few modification on the realty documentations has been suggested by the Assocham. First of all it suggested for lowering the interest rate to the developers for both the cases of licensing and in disbursing credit as sources reported at www.propertykhazana.com. Land is the prime criteria for any realty development and hence this should be short out immediately with reasonable rates under the mode of public private partnership across the country. In addition the existing external development charges should also be modified as per the current market scenario as sought to the RBI, Planning commission and Ministry of finance.
The average of current EDC exceeds 50 percent per annum for the realty players of the country as per Assocham and also point their huge contribution in the form of license fee for any project to the govt. which should be rationalized to upgrade the new image of realty, said the sources at the www.propertykhazana.com. “Among all the issues high lending rates of the banks plays the greatest hindrance in bringing up the realty spirit both for the developers and the buyers” president of Assocham reveals.
Apart from this the Assocham demands for proper regulatory measures to check the realty dupe cases mainly in the end users level. The income earned through the construction loan of LCH should be waived off from fiscal incentives along with the income tax for the realtors engaged in the dwellings of environment friendly. For more updates visit www.propertykhazana.com.
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