THE REAL ESTATE sector has requested the government to pay greater attention to the expansion of rental housing and provide higher tax benefit on home loans, in a pre-Budget consultation with the finance minister on Monday.
"Until now we are only talking about ownership housing but a focus needs to be given to rental housing as well," managing director of Hiranandani Group and chairman of the National Real Estate Development Council, Niranjan Hiranandani, said after the meeting.
In the last Budget, finance minister Nirmala Sitharaman had announced that rental housing with dormitory-type accommodation for industrial workers would be facilitated in the public-private partnership mode with viability gap funding support and commitment from anchor industries.
"So our idea is that we need to expand it to other people," he said, adding that even in the richest country in the world, the United States, 50% of the people live in rental housing.
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