Pre-Budget Quote of Mr. Prashant Solomon, Managing Director, Chintels India and Hon. Treasurer, CREDAI NCR

“ After a challenging 2020, as we enter 2021, there is a need for some more fiscal measures in the upcoming budget to accelerate growth in this important sector that generates demand for around 250 other industries. Further extension of the CLSS scheme for the next fiscal year, increase in tax incentives for home buyers, infrastructure status for the entire real estate sector and abolishing tax on unsold homes are some of the key demand of the industry. States on their part must cut stamp duty on registration of properties, as Maharashtra has done. If the government announces some positive measures on demand side in the Budget, housing sales will bounce back to reach pre-COVID level.”