New Delhi, Aug. 3 -- G Hari Babu, President of National Real Estate Development Council (NAREDCO) has urged the government to bring the Goods and Services Tax rates of building materials to the bracket of 18 per cent.

Speaking at the sidelines of NAREDCO's 17th edition of National Convention in the national capital, NAREDCO President reiterated industry's demand of Input Tax Credit (ITC) under the Central Goods and Services Act (CGST) on commercial assets constructed for leasing purposes.

"One thing we are asking is the input credit facility for the builders because now it is five percent fixed rate and for affordable housing already one percent is there up to forty five lakh. We are requesting them to increase to sixty lakh. And as far...