1. Karnataka has launched NAREDCO Karnataka helpline number to answer real estate queries
The Karnataka branch of National Real Estate Development Council (NAREDCO) has set up a WhatsApp helpline (No. 8884450913) which will provide answers, almost in real time, to any query related to the real estate sector.
The Real Estate sector is so vast and individualistic in nature, wherein each property is unique with its own strong and weak points. There are so many specific sets of information that is required ranging from statutory compliances to building bye laws governed by at least a dozen departments and this makes the sector so diverse and so it cannot be generalized.
A first of its kind initiative by NAREDCO, Karnataka, this WhatsApp messaging helpline will assist the general public, the members of NAREDCO and anyone interested in getting clarification regarding government policies; rules and regulations of civic bodies; taxation issues; finance etc. all related to the real estate sector.
The queries will be answered by experts of NAREDCO representing 10 different committees including technical; legal; finance; rules and regulations; construction related etc. This initiative is expected to help not only real estate professionals but also the general public as there are several issues – such as RERA, GST etc. – that need clarity. Most people are Clueless on who to approach for any particular solution with impartial information, said Mr. Satish Kumar, President of Karnataka NAREDCO and added that this would be a one-stop-information help desk.
2. Govt. to look into builders' demand to boost realty sector amid COVID-19 pandemic: Housing Secretory
Housing and Urban Affairs Secretary Durga Shanker Mishra said the government will look into various demand of the real estate industry, including an extension of timeline for completion of projects by 6-9 months. He highlighted various initiatives taken by the government in the past seven years such as development of 1.12 crore houses under the Prime Minister Awas Yojana (PMAY), launch of the Affordable Rental Housing Complex scheme for migrant workers, ‘infrastructure’ status to affordable housing, and 100 smart cities.
He was addressing a webinar organized by realtors body NAREDCO. NAREDCO’s representatives made several demands before the secretary to revive both demand and supply in the sector that has been badly affected by the COVID-19 pandemic. The association sought extension of timeline for completion of projects by 6-9 months under the realty law RERA, extension of all building permissions till March 2023, rationalization of government taxes on real estate, and control of rising prices of cement and steel.
It also sought reintroduction of interest subvention scheme, grant of input credit tax on GST paid in leased commercial real estate, suspension of insolvency law for some more period, and an online environment clearance system. At the outset, NAREDCO President Niranjan Hiranandani said the construction activities have slowed down because of the second wave, as only 50 per cent laborers are working on sites. He demanded that timeline for completion of projects should be extended as it was done last year. NAREDCO Chairman Rajeev Talwar said all permission related to the development of projects should be valid till March 2023. Ashok Mohanani, president of NAREDCO Maharashtra, was also present in the meeting.
Source: Business World