Federation of Hotel & Restaurant Associations of India (FHRAI) said to www.propertykhazana.com that, “We are hoping for an allotment of infrastructure position to the hotel industry. Hotels must be purchased on an average with other infrastructure ventures like airports, highways and power ventures. The hotel segment is bigger and higher in nature; it must be done with the demand-supply situation.” Feeble company investing in the stir of the global fiscal reduces and the terror attack in Mumbai has led to drop in possession levels for most hotels. As per to the sources saying at the www.propertykhazana.com, possession levels have dropped to 70% in the first 3-4 months from 80% a year back. Experienced with dropping possession and cautious bankers, the industry has come to the state Govt. for certain tax allowances.
Managing Director of the Pride Group of Hotels said to www.propertykhazana.com that, “We need the central Govt. to direct the state Govt.’s that plentiful tax must be identical in all the states and they must also give directions for an standardized VAT.” He also said that, “The industry is urging for a 5% copious tax on definite room tariffs and also standardized auctions tax on food & beverage and excise duty on liquor.” The segment also wanted higher reduction payment of 25% on their buildings from the present 15%. FHRAI Company said that, “The extra reduction might also be considered to hotels which have to make huge investments in plant and machinery owing to their operating on 24-hours basis.” For more updates on realty market browse www.propertykhazana.com.
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