Rising input costs haunts builders
Real estate developers in Hyderabad are calling for government intervention to contain the exponential rise in the prices of inputs like cement and steel apart from speedy constitution of a real estate regulatory authority.
Speaking on the sidelines of curtain raiser of a property show organised by the Hyderabad chapter of Confederation of Real Estate Developers Association of India (CREDAI), P. Rama Krishna Rao, general secretary of the association said, “Prices of inputs like cement and steel have shot up exponentially. In about 8-10 weeks, prices of cement has gone up by almost Rs 8,000-9,000 per ton and it would become a dampener for the affordable housing and infrastructure projects taken up by the Telangana government. Hence, we would request for government intervention in this issue”.
He also called for speedy constitution of Real Estate Regulatory Authority (RERA) in the state. “We have been facing some issues with regards to RERA and in the absence of any regulator, we don’t know where to apply and whom to notify,” said Rao.
Telangana notified the RERA Act in August last year but has failed to constitute its authority till date.