Realtors on Friday hailed the Government’s decision to cut corporate tax, saying the move will have a ripple effect on all sectors including real estate, improve liquidity of cash-starved developers and boost property demand especially in the commercial segment.
Realtors’ apex body CREDAI Chairman Jaxay Shah said: “It’s a full house blockbuster Friday for India Inc. Game changer announcements. Market sentiment will change completely in all sectors including real estate”.
“It is a due corrective step by the Centre to uplift investor’s sentiment and prompt investment back in drying up Indian economy. The move is well intended to revive growth traction of the economy,” said Niranjan Hiranandani, President, NAREDCO.
CREDAI President Satish Magar added: “The series of announcements by FM are most reassuring as they tell of the Government being sensitive to the economic needs of the people. We are most hopeful that the special needs of housing would soon get addressed to further accelerate the investment cycle.”