Confederation of Real Estate Developers' Associations of India, the apex body of private real estate developers, has sought a slash on Goods and Services Tax and low interest on loans to buy land for taking up affordable housing projects to achieve Government of India’s call for housing for all by 2022.
At its executive committee-governing council meeting held here on Friday, CREDAI, representing over 12,000 members across India, pledged to develop 14,500 affordable housing units in Vijayawada, Kurnool and Visakhapatnam in the State.
Single window clearance
Welcoming Prime Minister Narendra Modi’s call for New India with housing for all by 2022, the key office-bearers of CREDAI demanded rationalisation of taxes and introduction of single window clearance as part of ease of doing business in real estate sector. CREDAI national president Jaxay Shah told reporters that their commitment towards building New India had taken another step forward at EC-GC held here. He said the government should address their concern over red-tapism in getting clearances for construction of housing ventures and rationalisation of GST and other taxes after facing recession for a long time and problems encountered after demonetisation, Real Estate Regulation Act and GST. He however welcomed the reforms being implemented by the government through a series of measures.
Replying to questions, Mr. Shah said they were in no way trying to dilute the provisions of RERA. He remarked that they were welcoming RERA wholeheartedly though it might be disruptive initially. “What we want is last-mile approach to the problem faced by the construction industry,” he pointed out.
CREDAI national president-elect Satish Magar said they would continue surging ahead with recommendations and partnering with the government to facilitate effective implementation of the policy reforms.
CREDAI A.P. president A. Siva Reddy, chairman K. Subba Raju and Vizag chapter president P. Koteswara Rao, among others spoke.
Earlier, at an interactive workshop on affordable housing Shantilal Kataria, chairman, RERA Legal and Affordable Housing Committee, CREDAI shared industry insights with the CREDAI developers.