CHENNAI: The Builders Association of India (BAI) has threatened to stage protests if the rising steel and cement prices are not brought under control.
Addressing a press conference, the association’s State chairman, R Prakash said steel prices increased by 180 per cent and cement by 50 per cent without any reason. National Highway projects in the State worth Rs 14,410 crore have been affected.
“Similarly, State’s infra projects have also suffered. The government must reduce stamp duty and registration charges to support the ailing sector. TN’s stamp duty is the highest in the country. Recently, Maharashtra and Karnataka reduced stamp duty and registration charges drastically to boost realty sector,” he added.
Prakash also urged the government to clear pending bills of contractors with various Central or State departments. “The bills have not been cleared for over six months, and these should be released immediately,” he requested.