MUMBAI, 12 NOVEMBER, 2020 (GPN): Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd quotes–

“The Finance Minister positively responded to the real estate industry’s long standing demand for increasing the differential between circle rates and market value for tax exemption purposes as property value in many parts of India have already gone down below the ready reckoner rates. The move to hike the differential to 20% will help developers to offload the inventory and homebuyers to proactively buy properties without any tax liability. Also, providing an additional outlay of Rs 18,000 crore for PM Awaas Yojana is a direct intervention and would stimulate homebuyer’s sentiment under the affordable housing sector besides having a multiplier effect on direct employment and growth of real estate allied industries.” ENDS