According to the Associate Director-Real Estate practice, EY, Maadhav Poddar, with political stability in sight, economy as a whole and the real estate sector in particular head for good days ahead. In fact, capital providers, both in the domestic circle and in the international arena appeared to be more enthusiastic and comfortable in making commitments, given that they can expect a clear agenda with a stable Government at the Centre. The key demands of the sector included the introduction of real estate investment trusts and infrastructure investment trusts with related changes in tax and FDI regulations. Even granting of industry status to the real estate sector would make low-cost funding available. Moreover, the introduction of Goods and Services Tax and removal of ambiguity on the applicability of Value-Added Tax, besides restoring exemption on Dividend Distribution Tax and Minimum Alternate Tax to SEZs, are some of the important concerns. Further, clarity on land acquisition and quicker / single window approval process is also required, he added.
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