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Government encouraging SRZ developers for LIG homes

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Govt. is free-loading a plan from realty developers to establish SRZs exterior of the main cities. These SRZs is also planning to give tax benefits on the lines of SEZs. One of the developers said at the www.propertykhazana.com that, “SRZs will assist them to construct and sell reasonable residences for as low as 1/3rd of the market rate for the aspiring low-income groups, even if SRZs will not be partial on low-income residences.”
Commerce Minister Kamal Nath is on discussion with realty developers about developing SRZs, the SRZs is been considered by the developers on the lines of SEZs with Tax benefits and single-window permission. As per to the plan, SRZ will be extended in over 500 acres and property will be purchased by developers directly from the landlords for a settled rate. Development will be done by the company, but burden of building the road connecting the SRZ with the city is to be borne by the Govt. as per the agreement.
Mr. Jain said to www.propertykhazana.com that, “Residences constructed away from Gurgaon might cost Rs. 7 Lakhs in SRZ evaluated to the present market cost of Rs. 20 Lakhs. The exception of tax, which includes 27% of the existing residence cost and the accessibility of inexpensive property faraway from the city and the quicker approval through single-window, will totally bring down the cost considerably.” Presently, obtaining all necessary approvals from Govt. for constructing a residential venture takes about 2 years, as per to the land developers. “Complete plan is based on the developers intention to cater low-priced reasonable residential to the low-income population. However, SRZs will also have high-end residences and the Govt. will have to bring some regulation to make sure those residences goes to the desired people,” said Omaxe CMD Rohtas Goel at the www.propertykhazana.com.
Source: NBTVLIVE

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