CREDAI says rise in raw materials has badly hit realty sector

Visakhapatnam CREDAI national vice-president G. Rami Reddy on Saturday said that the skyrocketing prices of raw materials has taken a big toll on the realty sector and the issue needs to be addressed to help the construction sector, which provides tens of thousands of jobs.

He was interacting with office-bearers of CREDAI-AP including it's chairman S. Venkata Ramaiah, president B. Raja Srinivas, general secretary K. Subhash Chandra Bose and Visakhapatnam chapter office-bearers Bayana

Srinivas Rao, chairman KSRK Raju, president and V. Dharmender, vice president at the local CREDAI office.

He gave details of price rise of materials like steel, cement, tiles, electrical cables and pointed out that after enactment of RERA, the builders could not raise the price of units after an agreement is signed with the buyer. This will have an adverse impact on the builder, he said. He said that CREDAI proposes to highlight these issues through the media and sought the intervention of the government to address the issue.

Earlier, the general secretary of CREDAI-AP and the president of CREDAI-Visakhapatnam, gave a brief account of the activities of their chapters and requested Ram Reddy to take up pressing issues of the realty sector at the national level.

V. Dharmender, requested him to take up three important issues viz. price rise, problems connected with RERA and GST. Former chairman, CREDAI-Visakhapatnam K. Ramakrishna Rao pointed out the difficulties in uploading data even for registration of a project and wanted use of proper software to avoid manual intervention, to overcome the difficulties.