A tax holiday for affordable housing and an exclusive regulator are among the demands of the real estate sector for India's 2010-11 Budget.
With a strong push now being given to affordable housing, "a tax holiday under Section 80-1B for affordable housing should be given for units below 1,200 sq.ft.," Marathon Group's managing director Mayur Shah said.
A specific tax incentive and rationalisation of stamp-duty registration charges would lead to further investments in affordable housing projects, Lodha Developers' Managing Director Abhisheck Lodha said.
The industry also called for an upward revision of tax exemption by up to Rs three lakh on housing loans.
The Economic Times