Realtors hope tax cut will boost demand for residential properties

Demand for residential properties will get a boost after the cut in corporation taxes, said top property developers and consultants. "Capital investment, which had stopped, will restart," said Niranjan Hiranandani, chairman at Hiranandani Communities. "When developers invest money, they will invest on new projects, which in turn generate employment. People will buy properties. There will be a multiplier effect." There was, however, "no room" to cut prices to boost demand, he added.  Hiranandani said according to income tax rules, if a developer cu.....

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