The entire real estate industry observed a ‘No Work Day’ protest to highlight the steep increase in prices of raw materials like steel, cement, pipes and others while also bringing to the notice of the governments to reduce the registration charges and taxes on Monday.
All the developers - Confederation of Real Estate Developers’ Associations of India (CREDAI) along with all its chapters in association with Telangana Real Estate Developers' Association (TREDA), Telangana Builders Federation (TBF), and Telangana Developers Association (TDA) having more than 1,000 members in the capital region and 800 across TS, joined hands to bring the works to a standstill.
The associations claimed that the stoppage of work has directly impacted 2.5 lakh workforce, upto 60,000 labour indirectly and 25,000 technical staff involved in various projects. “The protest received a tremendous response. We hope this will trigger the desired impact on raw material suppliers to rein in the prices and ensure constructions can be carried out without disruption,” CREDAI-Hyderabad president P. Ramakrishna Rao told the media.
