KOCHI: Higher tax rates under goods and services tax, stamp duty and registration charges put together at 22 per cent of the value of the property including land value — is an impediment for promoting affordable housing in Kerala, according to builders. The realty developers shared their apprehension at the two-day state-level conference of the Confederation of Real Estate Developers Association of India (CREDAI) that concluded in Kochi on Saturday. The theme of the conference was ‘Revive, Reinvent, Refocus.’
According to Kunnel Antony, chairman of the conference, approval systems needs to be simplified and streamlined in line with the neighbouring states like Andhra Pradesh and Telangana. “Even though the government has notified on ease of doing business, these types of issues are still prevailing’’ he said. Builders are of the opinion that the centre should consider including the adjoining panchayats to urban area for making them qualified for the affordable housing schemes under Pradhan Mantri Awas Yojana.