Real estate players blame govt for high prices and low demand

Credai claimed it urged govt to reduce GST rate of 12% on all homes purchased and not only those under CLSS

Suffering from lack of demand, eroding customer confidence and a gloomy future outlook, real estate players on Tuesday blamed the government for its woes and claimed that red tape was killing their business. 

Developers claimed lack of implementation of a single-window clearance, delays in getting approvals required from various departments and not attaining industry status is badly affecting the sector. 

In a letter addressed to Hardeep Puri, minister housing and urban affairs, real estate industry body Credai requested the ministry to initiate certain amendments including implementation of the single-window clearance mechanism in the Indian real estate sector.

“Credai expressed their concerns over the