BAI demands steps to boost real estate sector
Jamshedpur, May 17: The builders of the steel city have expressed dissatisfaction over State government�s decision to roll back registration of property worth Rs 50 lakh or less for a token amount of only Rs 1 for women buyers � a decision taken by the former Raghubar Das-led NDA Government here in 2017 with an objective to give fillip to women empowerment.
Surender Pal Singh, chairman, Builders� Association of India, Jamshedpur said that the decision of the government will have an adverse impact on the sale of flats. The State Government should work to boost real estate sector, which is already reeling under impact of Covid-19.
Singh noted that the COVID-19 pandemic has already led to huge losses due to sudden suspension of work at construction sites across the State. Government should take some steps to boost the sector.
Ravi Jaggi, secretary, Builders� Association of India, Jamshedpur said that the Government should have reduced 7 per cent charges to 4 per cent rather than rolling back the entire decision. He said that the people used to buy flats with hope of Rs 1 token amount for registry but now they will not be willing to buy such properties especially with economy suffering under lockdown.
In 2017, the then Raghubar Das Government had waived off the 7 per cent charges � 4 per cent stamp duty and 3 per cent court fee � on properties registered on the name of women. The decision was aimed as an initiative to empower women in households and encourage families to register properties on the names of their women members.
Kaushal Singh, former chairman, Builders� Association of India, Jamshedpur said that the builder were already facing challenges due to Real Estate Regulation and Development Act (RERA) and now with State Government�s decision the sale of flats will hit.?
Suraj Bhadani, a senior functionary of Builders� Association of India, Jamshedpur said that the Government should take steps to help real estate sector to grow. Decisions like this will have adverse impact on the growth. He also suggested that the Government can also start registry of properties under Tata lease area to increase revenue.