Finance Minister on 2 lakh crore economic package for COVID-19.
The decision where the Ministry of Housing and Urban Affairs will be issuing an advisory to all regulatory authorities across states and union territories (UTs) to invoke the force majeure clause across the real estate spectrum is laudable.
As advised, the suo moto extension of the registration and completion dates by six months, for all registered projects expiring on or after 25 March 2020, will help the industry cover for its losses as a result of the absence of the construction during the lockdown. This will immensely help development firms and the associated allied industries. However, an extension of a year is what the industry wanted and had asked for.
 |
| Mr. Ankush Kaul, President (Sales & Marketing) Ambience Group |
The reduction in the TDS/TCS by 25% will give the much-needed support to the industry and the allied services on various fronts such as procurement, vendor payments, etc. The support to MSMEs itself will boost the small companies, leading to smooth flow of funds and greater efficiency on project sites.” Mr. Ankush Kaul, President (Sales & Marketing) Ambience Group Said
No comments:
Post a Comment