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BW Businessworld

'Give Industry Status To Real Estate Sector'

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Amit Modi, Whole-Time Director, ABA Corp, talked to BW|Businessworld's Sapna Bhardwaj on the expecations from the new Modi government on the real estate sector.

As a developer, Modi's first expectation is that real estate be given industry status as has been given to Bollywood.

But as a citizen, his second expectation is that the government should take steps to boost manufactring to help job creation which will put more money in people's hands and boost real estate in turn.

Third, he wants the government to ease taxation policy and drop the 1% TDS imposed on apartments sales costing more than Rs 50 lakh.

Fourth, he wants government to raise I-T exemption limit so that people have more money in hands

Fifth, he expects the government will ease FDI flow in real estate sector

Finally, he thinks the sector needs a regulatory body with holistic views to keep track of all the developments