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Indian Real Estate News
Infrastructure growth will propel realty: Credai
Source: The Hindu Business Line Jan 12, 2010
The Confederation of Real Estate Developers' Associations of India (Credai) hopes 2010 will be a positive year for the real estate industry.

With the Government's continued focus on infrastructure development, it appears that the country's economic revival will be driven by infrastructure growth which, in turn, can accelerate real estate activities both in the residential and commercial segments, the association felt.

The Credai Chairman, Mr Kumar Gera, said, "This year will be crucial for the housing industry given the Government's concern over the massive housing needs of the people, especially in the urban areas. Supportive policies to encourage and aid the housing requirements of all sections are expected to propel the development in the real estate and allied sectors.

Affordable housing will be a key factor in driving the sector and focus on Tier II and tier III cities, apart from the metres, will help widen the market and generate demand." Mr Gera said the revival of the IT industry was crucial as it impacted the development of the realty sector to a considerable extent.

Credai, he said, continues to seek fiscal incentives to encourage affordable mass housing and direct and indirect taxes exemption for developers who took up slum redevelopment projects. It had also sought an increase in the deduction on interest paid on self-occupied residential house property and incentives to senior citizens purchasing residential property.

Tag: Real Estate India, Infrastructure in India Realty
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