NEW DELHI: Sitting on 6-7 lakh of unsold units due to poor demand, cash-starved real estate developers heaved a sigh of relief after the government extended the tax waiver on notional rent on such flats for two years from one year earlier.
Developers and consultants feel that this budget proposal would benefit developers of major 7-8 cities, particularly those from the national capital region (NCR) and Mumbai Metropolitan Region (MMR) where unsold units are maximum.
