CREDAI general secretary KSC Bose while speaking to reporters said the realty sector in Andhra Pradesh has been struggling with various issues and including increased in the revision of land values and it would further impact the industry.
Confederation of Real Estate Developers Association of India (CREDAI) Andhra Pradesh chapter urged the state government to put off the decision for revision of lands values till December 2022.
CREDAI general secretary KSC Bose while speaking to reporters said the realty sector in Andhra Pradesh has been struggling with various issues and including increased in the revision of land values and it would further impact the industry.
Bose remarked that the current market conditions are not favourable for any hike though it is a regular practice to revise market values of lands annually. He expressed concerns over the health of the real estate industry which has been hit worst due to Covid-19 pandemic.
With abnormal escalation of basic prices of construction material like steel, cement, paint, plumbing and electrical material, the sector has been completely demoralised, said Bose. “Some of the material prices increased by 40 to 50% in last few months.”
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