Maharashtra seeks tax adjustment from Centre for slum restoration: NAREDCO

The Maharashtra government has sought tax concession from the Centre for its slum rehabilitation programme in the state, according to industry body NAREDCO.

Housing and Urban Affairs Minister Hardeep Singh Puri has asked Maharashtra's Housing Minister Jitendra Awhad to submit a note in this regard for further discussion in the sanctioning committee on an urgent basis, realtors' body NAREDCO (West) said in a statement.

Puri was responding to a submission by the state cabinet minister seeking extended support from the Centre for the Maharashtra government's slum redevelopment programme, it added.

Puri and Awhad were speaking at the 'Change of Guard' event organised by the National Real Estate Development Council (NAREDCO)'s West Zone to welcome new President Ashok Mohanani and felicitate past president Rajan Bandelkar.

Mohanani, who is the chairman of Mumbai-based Ekta World, said NAREDCO West would form a consortium of developers from tier II and III cities of Maharashtra for availing funds from banks and NBFCs for their projects.