Centre to study tax cut for SRA homes

Also proposal on extending PMAY for affordable housing

NAREDCO West to form a consortium of developers from Tier II and III cities of Maharashtra to make them avail funds from the banks and NBFCs, says new president Ashok Mohnani.

MUMBAI, Oct 13 (BNC Network): The Centre has asked the Maharashtra Government to submit its proposal seeking taxation concessions for Maharashtra’s slum rehabilitation programme and also a proposal for Pradhan Mantri Aawaas Yojana for affordable housing projects.

Responding to a submission by Maharashtra Housing Minister Jitendra Awhad, Union Minister Hardeep Singh Puri asked the former to submit a note in this regard for further discussion in the sanctioning committee on an urgent basis.

Both the Ministers were addressing the ‘Change of Guard’ event organised by National Real Estate Development Council (NAREDCO)’s West Zone to welcome a new President Ashok Mohanani and felicitate the outgoing head Rajan Bandelkar.

Mohanani, Chairman of a Mumbai - based real estate Group, Ekta World, formally took over as the President of MAREDCO -Western Zone in a virtual ceremony today. Rajendra Pate has become the president of Pune Chapter of NAREDCO.

In his acceptance speech, Mohanani set his vision clear particularly for bringing a holistic development of the real estate sector across Maharashtra, and said that ‘’NAREDCO West would form a consortium of developers from Tier II and III cities of Maharashtra to make them avail funds from the banks and NBFCs for their projects. He forecast that the demand recovery will push housing sales; particularly in the affordable segment, mainly due to NAREDCO West’s initiatives, support by the Government and the RBI in interest rates and price rationalisation.”

Bandelkar said “NAREDCO West, with over 2,000 members, took rapid strides since inception in initiating reforms such as ease – of –doing business, HousingForAll portal, zero percent stamp duty, community development activities, etc.  with the cooperation from the Government authorities and officials.

Dr Niranjan Hiranandani, President, NAREDCO (National) and ASSOCHAM and Chairman & Managing Director of Hiranandani Communities, said,"We are grateful to the Ministry of Housing of the Government of India, State Housing Ministry and the RBI for their initiatives to support the real estate sector.”

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