Budget 2015: Expect positive reforms for real estate, says Rajiv Mohan, Cherry Hill Interiors

NEW DELHI: With the Union budget for 2015-16 round the corner, the real estate sector is ready with its wish-list, hoping for a favourable treatment from the new government.

In the coming Budget the sector expects the government to continue with positive reforms and policies, said Rajiv Mohan, MD, Cherry Hill Interiors Limited.

Also, with ‘Housing for All by 2020’, industrial corridors and affordable housing initiative there is urgent need for a real estate governing body to regulate and streamline processes regarding single window clearances, tax incentives for affordable housing, faster approvals, reduction of corporate tax and Quick and Speedy Implementation of GST with Smoother Tax Credits on Inputs Services, he said.

We also expect government to grant real-estate infrastructure status, he further added.

Mohan also went on to say that there needs to be clear incentive for Green Buildings and Soft Infrastructure (Corporate Interiors) like increased FAR for Green Building, property tax rebates, tax rebates etc which shall inspire developers and clients into opting for energy efficient LEED certified buildings & green infrastructure and thereby help minimize carbon footprint of the cities.