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Business News | Budget 2023: Realty Seeks Industry Status, Cheap Credit, Tax Rationalisation

Jan 20, 2023
| By: Aditya Kushwaha
| Source Link: Click Here

That said, rising commodity costs, including of steel and cement, have been a concern for developers with realty being a price-sensitive sector.

“The growing rate of interest and the mounting cost of raw materials have the potential to thwart the current growth momentum. We expect homeowner-friendly measures will be announced in Budget 2023,” said Aditya Kushwaha, CEO and Director of Axis Ecorp.

Also, saying that the luxury segment has been outperforming, and there has been an increased interest from NRIs to invest in Indian real estate, Kushwaha said he hopes the government will reconsider the applicable tax deducted at source (TDS) for the non-residents in particular, a move that may help the country build its forex (foreign exchange) reserves.

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