Pankaj Bajaj, President CREDAI NCR & MD Eldeco Group

The real estate sector is annoyed at the Budget provision of imposing TDS (Tax Deducted at Source) at 1 per cent on deal of property above RS 50 lakh. Real Estate Developers fear that it may affect demand.

Pankaj Bajaj, President CREDAI NCR & MD Eldeco Group says this will bring maximum property dealings under the tax orbit especially in the resale market where a powerful element of the transfer value is likely to be in black.