Hyderabad Realtors Seeking Government Intervention on Rising Input Prices

With the fear of constant rise in input prices, such as steel and cement, along with fastest establishment of real estate regulatory authority (RERA), real estate developers are seeking government intervention in Hyderabad.

When talking about the marginal beginning of property show by CREDAI or the Confederation of Real Estate Developers Association of India in Hyderabad, general secretary P. Rama Krishna Rao added, “Input prices like steel and cement have raised significantly. Cement prices have gone up within 8-10 weeks by around Rs. 8000 to Rs. 9000 per ton and it would dampen the concept of affordable housing as well as several infrastructure projects by Telangana Government. So, we would want intervention by the government in this matter.”

In the state, he also requested for fast constitution of RERA (Real Estate Regulatory Authority). He added, “We have been going through hard times with issues regarding RERA and we don’t know whom to inform and where to apply in this regard due to absence of regulator.” In August, Telangana attempted to call for RERA Act but couldn’t constitute the authority yet. But the Association is calm because of the improved market of real estate in Hyderabad. Rao added, “Hyderabad is all set to become a hub for several leading MNCs and we are hoping for the city to see huge demand for real estate within few years to come.” In the CREDAI property show, up to 120 developers will participate and it will be running from March 2 to March 4.