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New government should work towards increasing residential demand with policy reforms, real estate developers expressed their demand
Election 2024: The National Real Estate Development Council (NAREDCO), an organization of real estate developers, has said that the new government should provide tax incentives to homebuyers as well as developers to boost residential demand along with making policy reforms regarding the growth in the real estate sector. The organization also demanded to simplify the process of obtaining development approval.
The National Real Estate Development Council (NAREDCO), an organization of real estate developers, has stated that the new government should provide tax breaks to both homebuyers and developers in order to boost residential demand, as well as implement policy reforms to promote real estate growth.
The organization also demanded that the approval process for development be simplified. According to NAREDCO National President G Hari Babu, the real estate sector is at a critical juncture, with tremendous growth potential but also numerous significant challenges.
We need government support to reach a one-trillion-dollar market by 2030 and become a net zero-carbon industry by 2047. He said that it is necessary to implement major policy reforms and introduce sustainability incentives to deal with the rising home loan EMI.
