Country’s most celebrated group’s in realty segment DLF and Unitech firms had met UPA Govt. functionaries to ask for hovering tax cut on residential loans and for lending funds easily by banks to the segment. Meeting came in the stir of these firms witnessing huge abrasion in their market capitalization. Both DLF and Unitech was listed on BSE having seen in their scrip going down for about 85-95% from January and the duo also planned to meet the other authorities. As per to the sources saying @ the www.propertykhazana.com, the centre of this strip is the developers faith that collapsed in residential market in India. The top five realty developers are catering direct and indirect employment for about 2.8 lakh people across the country. The effect of a low market will not only fall on our share values, but also on jobs and on the economic growth.
It also increased interest rates to control price rises, a cycle that was recently wrecked down in order to relieve liquidity in the fiscal scheme. Developer said to www.propertykhazana.com that, “We are actually an industry and still we are not considered as one. We form infrastructure, but the rules are twisted against us and the Govt. collects more revenue from us in the manner of tax, but persist to oversee upon the segment as a fizz that needs to be out of order.” The central government authorities declared that both the firms had come to make clear about their problems. Achieving the success, other segments like civil aviation and telecom entering with the Govt., realty developers are likely to carry on their entry impact.
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