The chamber has petitioned the Union finance ministry to formulate a three-pronged strategy in the forthcoming budget for the sector, it said in a release here on Sunday.

Among the fiscal measures suggested by the chamber are 100 per cent reduction for interest paid on loans for construction of homes by individuals, removal of restriction for availing exemption from capital gains and deemed export status for real estate developers to boost foreign exchange earnings.

It has also called for a holistic approach to cater to housing needs of the poor since "there is need for providing integrated housing for all sections of the society". The chamber observed that massive investments in housing for the deprived sections of society would have to come from government subsidies while privatedevelopers would be cross subsidising through housing for the middle and high income groups.

Housing finance loans should be available at nine per cent interest rates, it said, payable over a period of 20-25 years.