Property prices may fall post lockdown, realtors seek lower levies

New Delhi: Property prices may fall in the coming days, as the real estate sector goes through another major blow — coronavirus crisis and the lockdown.

Developers, however, say that government support in terms of lowering levies would be critical in this front.

Recently, the Chairman of the State Bank of India (SBI) Rajnish Kumar asked developers to clear inventory at the earliest without waiting for prices to rise.

President of the National Real Estate Development Council (NAREDCO), Niranjan Hiranandani was of the view that, prices can be lowered, if changes are made to the Income Tax Act for not levying fines if property is sold below the circle rate.

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