
Under the recent meeting of constructors and builders, director of “India Infoline Ltd.” said that “we are harassing with the decrease in construction activity leading to business crawling” which is a zero return, less business credibility in coming time. This will also have direct impact on saving of individuals on tax saving as there is provision for saving tax under investment option under income tax in head of profit after tax.
But the whole irresponsibility cannot be put under the shoulders of builders and developers because the reason of the delays is due to cash crush in business, sanctioning of projects and increased rate of interest by banks and financial institutions which caused the execution dismissed.
Project under Gurgoan and Noida had faced the major problem announced by DLF for above Rs. 300 crores of revenue income booked which were pre-sold on first call and now the circumstances are that the investors are looking for re-back of their investments as they are insecure about their future apartments in Delhi and NCR.get details about New projects in noida.
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