Credai has asked the central and AP governments to reduce the tax burden on the construction sector, which is the second-largest generator of jobs in the country. Credai AP Vice President K. Subhash Chandra Bose spoke at the Credai three-day property show held in Vizianagaram.
He said that if the government provides the necessary support to strengthen around 200 companies affiliated with the real estate sector, the construction sector will develop further and play its part in strengthening the overall economy. Currently, as the market values of land in AP have increased significantly, it has been requested to reduce the registration charges from 7.5 percent to 5 percent. Also, the price of sand in the market is around Rs. 8,000 per unit. They have requested the governments give it for less than Rs. 2,000. Subhash Chandra Bose believes that if the central government also reduces the GST on cement and other construction materials, common people will also come forward to buy houses.
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