India's real estate prices expected to rise further as Finance Ministry retains 2.5% service tax on under-construction projects, impacting homebuyers.
The urban development ministry calls for a review of the proposed service tax on housing projects, amidst concerns over its impact on the struggling real estate sector.
Urban Development Minister Jaipal Reddy seeks additional package to reverse real estate sector slowdown. Proposes measures including rationalization of home loan interest rates and increased tax exemption on rental income.
DLF's EWS Housing Proposal Rejected, Favors Servant Quarters Over Affordable Housing