CREDAI Demands 10% Tax Exemption and Ayushman Limit Extension to ₹10 Lakh
The Confederation of Real Estate Developers' Associations of India (CREDAI) has called for significant measures to boost the affordable housing sector, including a 10% tax exemption and an extension of the Ayushman limit to ₹10 lakh.
Real EstateAffordable HousingCredaiTax ExemptionAyushman SchemeReal Estate MumbaiJan 30, 2025
In a recent meeting with government officials, CREDAI has put forth several demands, including a 10% tax exemption on properties and an extension of the Ayushman health insurance limit to ₹10 lakh.
CREDAI, a prominent voice in the real estate industry, has long been advocating for measures that can make housing more accessible and affordable for the common man.
The organization represents a vast network of developers and stakeholders across India and has been pivotal in shaping policies and regulations that impact the real estate market.
One of the key demands put forward by CREDAI is a reduction in the Goods and Services Tax (GST) from the current 5% to 3%.
This reduction, according to CREDAI, would make housing more affordable, especially for first-time homebuyers.
The proposed 10% tax exemption on properties would further alleviate the financial burden on buyers, making it easier for them to enter the property market.
Additionally, CREDAI has highlighted the importance of extending the Ayushman health insurance limit from ₹5 lakh to ₹10 lakh.
This extension would provide a greater sense of security and financial stability to homeowners, particularly in times of medical emergencies.
The increased coverage would not only benefit the homeowners but also contribute to overall health and well-being, which is crucial for a thriving community.
The real estate sector has been facing significant challenges in recent years, including slow sales, high inventory levels, and a lack of affordable credit.
CREDAI believes that these measures, if implemented, would provide a much-needed boost to the sector and help in creating a more inclusive and sustainable housing market.
Moreover, CREDAI has also suggested the relaxation of norms for the Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
These relaxations could attract more institutional and long-term investors to the sector, thereby injecting much-needed capital and fostering growth.
In conclusion, the demands put forward by CREDAI are aimed at making housing more affordable and accessible, while also ensuring the financial and health security of homeowners.
If these measures are adopted, they could have a transformative impact on the real estate sector and contribute to the overall economic development of the country.
Information
The Confederation of Real Estate Developers' Associations of India (CREDAI) is a premier national body representing the real estate developers in India.
Founded in 1995, CREDAI has been instrumental in advocating for policies and regulations that promote the growth of the real estate sector.
With a strong presence across 112 chapters and over 9,500 member companies, CREDAI works towards creating a conducive environment for the development of affordable housing and infrastructure in the country.
Frequently Asked Questions
What is CREDAI?
CREDAI, or the Confederation of Real Estate Developers' Associations of India, is a national body representing real estate developers in India. It was founded in 1995 and has over 9,500 member companies across 112 chapters. CREDAI advocates for policies and regulations that promote the growth of the real estate sector.
What are the key demands of CREDAI?
CREDAI has demanded a 10% tax exemption on properties, a reduction in GST from 5% to 3%, an extension of the Ayushman health insurance limit to ₹10 lakh, and relaxation of norms for REITs and InvITs.
How would the 10% tax exemption benefit homebuyers?
The 10% tax exemption would significantly reduce the financial burden on homebuyers, making it easier for them to purchase properties, especially first-time homebuyers.
Why is the extension of the Ayushman limit important?
Extending the Ayushman health insurance limit from ₹5 lakh to ₹10 lakh would provide greater financial security to homeowners in times of medical emergencies, contributing to their overall well-being and that of their families.
What is the role of REITs and InvITs in the real estate sector?
Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) play a crucial role in attracting institutional and long-term investors to the real estate sector, providing much-needed capital and fostering growth.
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