Kudos to the Urban Development Minister

Kudos to the Urban Development Minister

by Niranjan Mudholkar on Apr 1, 2010

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The Minister has been very positive about the regulatory bill. Pic courtesy: PIB

The Union Minister of Urban Development Shri Jaipal Reddy has openly opposed the service tax imposed on the real estate industry. His Ministry would soon seek withdrawal of service tax imposed on the real estate sector by the Finance Minister in the Budget Proposals for 2010-2011.
Mr Reddy has argued that the real estate sector still needs time to completely come out of the recessionary blues. The Minister said this while speaking at the recently held National Conference on Indian Real Estate organised by Assocham. He was responding to a query raised by Mr KP Singh of DLF on issue for review of service tax.
The Minister was also categorical on the issue of Regulatory Bill saying that it would completely eliminate night operators from the real estate sector as also prevent the sector from indulging into unnecessary profiteering. These are indeed welcome steps and Construction Week truly appreciates the proactiveness and genuine concern shown by the Hon. Minister.

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