Real estate builders’ guild form JAC
Real estate and builders bodies have formed a Joint Action Committee (JAC) to take on manufacturers due to a sudden steep hike in cement prices.
Confederation of Real Estate Developers Association of India (CREDAI), Telangana Real Estate Developers Association (TREDA), Builders Association of India (BAI), Telangana Builders Federation (TBF) and Telangana Developers Association (TDA) have come together to form the Joint Action Committee to highlight the adverse impact of price hike on construction sector and put pressure on manufacturers to cut the hike.
“A cement bag which came for `225 to `275 some 15 days ago is costing between `350 to `400 today. How can price increase so steeply, even though there were no specific reasons to increase in production cost?
Cement manufacturers have formed a cartel and are increasing the prices artificially,” said Gummi Ram Reddy, CREDAI Telangana president.