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CII for higher tax benefits for home buyers to boost demand in real estate sector

The government should also consider increasing the income criteria under PMAY scheme to Rs 18 and 25 lakh from the current Rs 12 and 18 lakh in the MIG I and ll categories, respectively. The chamber called for additional tax benefits to home buyers to boost demand.

PTI |Updated: January 24, 2020, 04.01PM IST
NEW DELHI: Industry chamber CII on Thursday urged the government to increase tax benefits for home buyers to boost demand in the liquidity-hit real estate sector. The chamber said that in order to meet a minimum GDP growth target of 6 to 7 per cent, it is important to have a definitive plan for boosting the demand in the
lakh from the current Rs 12 and 18 lakh in the MIG I and ll categories, respectively. "This would allow a wider section of the society to benefit from the scheme pushing demand," it said. Further, CII said granting infrastructure status to integrated townships and overall housing sector, would help developers access priority funding at a lower cost.

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