CREDAI Welcomes Revised Infrastructure Tax Payment Plan for Real Estate Sector
The Confederation of Real Estate Developers' Associations of India (CREDAI) has expressed its satisfaction with the government's decision to revise the infrastructure tax payment plan. This move is seen as a significant step that will provide much-needed relief to the real estate sector, which has been grappling with various financial challenges.
According to Rajesh Sheth, the president of CREDAI Goa, the revised payment structure will make it easier for developers to manage their financial obligations without compromising on the quality of their projects. Sheth stated, 'The revised payment structure is a key relief for the real estate sector. It will help developers to better manage their cash flow and ensure timely completion of projects.'
The real estate sector in Goa has been facing numerous challenges, including regulatory hurdles and a slowdown in demand. The revised infrastructure tax payment plan is expected to inject much-needed liquidity into the market, thereby boosting investor confidence and encouraging new projects.
The infrastructure tax, which is a crucial source of revenue for the government, is used to fund various development projects such as roads, bridges, and public utilities. The revised payment plan allows developers to pay the tax in installments over a longer period, reducing the financial burden and enabling them to allocate resources more effectively.
CREDAI, a national apex body representing the interests of real estate developers, has been advocating for such reforms to support the growth of the sector. Sheth emphasized that the revised payment plan would not only benefit developers but also consumers, as it would lead to more affordable housing options and improved infrastructure.
The real estate sector is a significant contributor to the economy, and the government's decision to revise the tax payment plan is a positive step towards revitalizing the industry. With the revised structure, developers can focus on delivering high-quality projects that meet the growing needs of the population.
In addition to the revised payment plan, CREDAI is also pushing for other reforms, including the simplification of regulatory processes and the introduction of incentives for affordable housing. These measures are expected to further boost the real estate market and create a more favorable environment for both developers and consumers.
Overall, the revised infrastructure tax payment plan is a welcome development that is likely to have a positive impact on the real estate sector in Goa and beyond. CREDAI remains committed to working closely with the government to implement further reforms that will support the long-term growth and sustainability of the industry.
