Pre-budget expectation Elevator and Escalator industry: Manish Mehan, CEO and MD of TK Elevator India
Apart from the long-standing demand for single-window clearance and industry status, the real estate industry is expecting higher incentivisation of affordable housing, uniformity and expansion in the definition of affordable housing, increase in tax exemption on interest paid on home loans, and exemption on rental incomes.
With more homes qualifying as affordable housing, the benefits such as lower GST at 1% without ITC, and other government subsidies will help a lot more Indians seeking to buy a home.
The industry also needs strengthening of existing financing systems so it can provide liquidity to stuck real estate projects in India. All these measures will boost the growth of Indian Elevator industry.
