Naredco calls for special package

Published on May 23, 2015 00:29:25 AM
Business

A delegation from Naredco met with Finance minister Arun Jaitley where he agreed on almost all the issues raised by the council. Sunil Mantri, president, Naredco placed before the minister the important issues for his consideration which are necessary for the revival of Indian economy in general and Real Estate Sector in particular.

The delegation presented that the Housing sector has been kept out of the infrastructure definition while water supply, sanitation, sewage, solid waste management, road, which are part and parcel of a housing project are in it. He emphasised that it is the sector’s outstanding demand that housing should be included in the infrastructure definition under Section 80IA of IT Act 1961 as it has the potential to improve funding of housing projects and augment supply of housing which will help in meeting the target of housing for all by 2022.