NAREDCO lauds IT relief to timely projects

National Real Estate Development Council (NAREDCO) has announced that there will now be a deduction from their gross income of an amount equal to 100 per cent of the profits and gains derived from their business of developing and building affordable housing projects of residential units. This is applicable on housing projects approved and completed within three years from June 1, 2016, to March 31, 2019, within and beyond 25-km of municipal or cantonment board limits, of not less than 2,000 sq m in any plot size and 60 sq m residential unit size. Contact: NAREDCO. Tel: 011-2622 5795. Website: www.naredco.in