NAREDCO urges GST relief for housing

18 Dec 2023 CW Team

The National Real Estate Development Council (NAREDCO) is pushing for favourable measures in the upcoming FY25 budget, recommending the inclusion of Swamih 2.0 and the application of Input Tax Credit (ITC) under the Goods and Services Tax (GST) for residential projects.

In their proposal, NAREDCO emphasizes the need for continued support to the real estate sector, especially in the aftermath of the challenges posed by the pandemic. Swamih 2.0, aimed at providing financial assistance to stressed residential projects, is considered crucial for the industry's revival and completion of stalled projects.

The request for ITC under GST for residential projects aligns with efforts to make housing more affordable and stimulate demand. NAREDCO contends that such measures would not only benefit the real estate developers but also prospective homebuyers.

As the budget for the financial year 2025 approaches, stakeholders in the real estate sector are keenly observing the potential policy shifts and financial provisions that can shape the industry's trajectory. NAREDCO's recommendations reflect the industry's call for targeted fiscal interventions to foster growth and stability, emphasising the importance of policy support for the real estate market's sustained recovery.

Infrastructure Transport

15 May 2025

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India鈥檚 first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India鈥檚 infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Infrastructure Transport

15 May 2025

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central鈥揋andhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India鈥檚 busiest business corridors. This upgrade, effective from 11 May, raised the train鈥檚 seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai鈥揂hmedabad鈥揋andhinagar route, which regularly operates at over 150 percent seat occupancy...

Infrastructure Urban

15 May 2025

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi鈥檚 ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river鈥檚 health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..