Real estate developers, builders and other stakeholders of the construction industry in the State observed 'work holiday' on Saturday protesting the rise in prices of raw materials.
All the associations in the Confederation of Real Estate Developers Association India (CREDAI)'s AP chapter, National Real Estate Development Council (NAREDCO), AP Chamber of Commerce (APCC), Builders Association of India (BAI), Architects Association, Licensed technical persons and AP Building Contractors Association came together to observe the 'work holiday'.
In a press conference here on Saturday, CREDAI AP vice president Y.V. Ramana Rao appealed to the State and Central governments to intervene and control the rising prices of construction materials.
He said the prices of steel, cement, electrical items, paint, plumbing and sanitary material, hardware and others had increased manifold, and the increase in petrol and diesel prices further contributed to the rise in material cost. He said some of the material costs increased by up to 50% and the burden of this had to be passed to the buyers.
CREDAI Vijayawada president K. Ramesh Ankineedy, general secretary V. Subba Rao, NAREDCO, Vijayawada president V. Vamsi Krishna, BAI national vice president V. Venkateswara Rao, BAI, AP chairman B. Raghava Rao, APCC general secretary B. Rajasekhar and others were present.
