The Confederation of Real Estate Developers Associations of India (Credai), Visakhapatnam chapter, has condemned the “abnormal hike in cement prices” ranging from ₹120 to ₹130 per bag and urged the State Government to initiate immediate steps to bring the cement prices under check in the interests of the consumers as well as the builders.
At a media conference here on Saturday, GVSS Narayana, the Chairman of the chapter, and P Koteswara Rao, the President, accused the companies cartels and pushing the prices from ₹230 a bag to ₹320-350 per bag. “Last year, too, the companies played the same foul trick and a penalty of ₹6,700 crores was levied on the companies, which matter is still pending in the courts, and they are up to it again,” they alleged.
They said that the companies can not “offer any explanation for the abnormal spurt in prices”. “The power situation in the State is comfortable and there is no hike in the power tariff. The prices of raw materials are holding steady and there is no wage hike. In fact, there are no other discernible causes for the hike. It is nothing but naked greed on display.”
Tax troubles
They also referred to the other issue plaguing the industry — the high GST at 8 per cent even on affordable housing projects and at 12 per cent on other projects — and stressed the need for the GST Council to bring it down to realistic levels. “We have been hearing promises for quite sometime, but there is no follow-up action. GST is really crippling,” they said.
They also referred to the high vacant land tax in the State, the high building fees, and related issues.
The office-bearers paid homage to the Pulwama martyrs and announced the decision of the national Credai to donate a double-bed room apartment to the families of the martyrs in their respective states. “There is no martyr from Andhra Pradesh, but we will contribute our mite to the cause,” they said.