NEW DELHI : The Centre should advise the Real Estate Regulatory Authorities in the states to extend the deadline for completion of projects by six months to 1 year in the wake of the disruption caused by the coronavirus crisis and the nation-wide lockdown, according to a report by PHD Chamber of Commerce.
The industry body has also suggested that a moratorium period of six months should be allotted for paying local body taxes like municipality taxes and property taxes.
It also said that ongoing projects can be considered as assets for granting credit to developers. The report further said: "Stamp duty and registration charges on completed flats for a period of around one year should be reduced or waived off.
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