Credai demands major project for Aurangabad

Statement sent to the union Finance Minister

Aurangabad, Jan 28:

Union finance minister Nirmala Sitharaman will present union Budget on February 1. Confederation of Real Estate Developers Association of India (CREDAI) has demanded that a major project for the development of Aurangabad be announced and that the duration of various schemes be extended to boost the housing sector.

Credai in a statement to Sitharaman said that Aurangabad is the capital of tourism. It is also an industrial city. The city is developing due to DMIC as well as Samruddhi expressway and Solapur-Dhule highway. However, a larger project is needed to accelerate the development. Large companies or an industry dealing in housing projects should be announced to promote the housing sector, and boost the local economy. The statement further said that the housing sector was helped by giving tax holiday under section 80 IBA. However, only projects up to March 31, 2021 benefited from it. The tax holiday period should be extended to fully benefit the sector. Extend the period of private-public partnership for Pradhan Mantri Awas Yojana. Also a period of 2 years should be given to the project after approval. The credit link subsidy scheme (CLSS) for the middle income group should also be extended. Credai Aurangabad president architect Nitin Bagadiya and office bearers have signed the statement.

Goal of affordable housing

The central government should increase the limit of Rs 75 lakh for non-metro city building and Rs 1.5 crore for metro city under affordable housing scheme and change the construction criteria of houses to 90 sq mt for big cities and not more than 120 sq mt for tier 2 cities under RERA. The goal of affordable housing will be achieved, Credai said in a statement.