Real estate industry wants budget help to sustain recovery

Real estate industry wants budget help to sustain recovery

The industry wants government support to sustain the recovery in the sector that is the second largest employment creator after agriculture and contributes around 6% to India’s gross domestic product (GDP). The industry wants rationalisation of taxes and certain tweaks in the definition of affordable housing among other measures. PERFORMANCE ACROSS TOP 8 CITIES IN 2021 Housing - Sales: 2.33 lakh units, up 51% year-on-year - Supply: 2.32 lakh units, up 58% - Mumbai residential sales scaled new peak - Hyderabad, Pune, Bengaluru saw highest percentage growth in sales OFFICES - Total leasing: 38.1 m sq ft, almost same as 2020 - Nearly 68% of leasing took place in second half of 2021 - Bengaluru leads leasing activity - New offices completion: 39 million sq ft BUDGET RECOMMENDATIONS 1) Raise …
More on: economictimes.indiatimes.com