A two-day property expo organised by Confederation of Real Estate Developers Association of India (CREDAI) Vijayawada Chapter began at A Convention Centre on Saturday.
It is very unusual that construction materials prices are so high even during the monsoon months when there is barely any construction going on.
CREDAI Chennai chapter president Sivagurunathan said that the cost increase would also include the housing board plots.
Land rates, registration charges, construction materials and labour costs and all components involved in making the final output of an apartment have increased after the pandemic.
It goes without saying that the increase in prices of different raw materials increases the overall cost of the construction and builders will not bear the additional financial burden.
Earlier in the day, at a meeting organised by CREDAI in Hyderabad, Rama Rao, without naming AP, said that there were no roads, no power and no water in the neighbouring State.
During Sankranti, one of my friends visited his native village in a neighbouring State where he has orchards and a house.
As many as 500 delegates from across the country gathered to discuss opportunities and challenges in tier 2, 3 and 4 cities and prepare a plan of action to address the challenges.
The 'No Workday' witnessed the participation of 2,50,000 direct workforce, 50,000- 60,000 indirect labourers, 25,000-30,000 technical staff involved in various projects.
Real estate companies in Telangana have announced a halt to work on April 4 as a mark of protest against the steep rise in the prices of cement, steel, aluminium and other construction material.
Confederation of Real Estate Developers’ Association (CREDAI) president Padam Dugar was present.
Although the budget did not have much in store for real-estate sector per se, industry leaders are happy regarding the few announcements made.