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Real estate sector lists demands ahead of Vibrant Gujarat Global Summit, Real Estate News, Realty Beat

Real estate sector lists demands ahead of Vibrant Gujarat Global Summit, Real Estate News, ET RealEstate
GANDHINAGAR: While the state government has asked the real estate sector to boost economic activity with investments, the sector has listed its pending demands in a representation to the government.

The major one is a 50% cut in stamp duty and registration fees, which represents a sizable chunk of government revenue. Representatives of the Gujarat chapter of the Confederation of Real Estate Developers Association of India (CREDAI), and a number of other associations of realtors, met top government functionaries recently with their demands.

The state government indicated that it will look into all the demands and consider the feasible ones.

CREDAI Gujarat president Ajay Patel said real estate developers have run into a number of problems because of the Covid-19 pandemic.“This industry generates a lot of employment and revenue for the government. We met top officials of the revenue department and listed our grievances. The government assured us that our issues will be resolved before the Vibrant Gujarat Global Summit (VGGS),” he added.

While the reduction of stamp duty and registration fees has been along-standing demand of the industry, other issues put before the government were a reduction in the premium charge for land-use conversion, sops for affordable housing, relaxations in NA restrictions being applied by urban development authorities and the like.


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