Real estate sector will impact with rise in market values: Telangana builders federation
For realty, nothing much to cheer about in Budget
Telangana builders federation (TBF) said that the real estate sector will greatly impact with the rise in market values and no buyers are coming forward due to the exorbitant prices. Speaking to the media, the representatives of the federation said that those who had given amount in advance were also kept deferring the purchase.
They appealed to the government to defer the revision of market values at least for two years else decrease the registration fee. The federation said that the would not survive if the buyer loses strength. They also added that rise in market value will also impact NALA tax and LRS charges.
TBF president C Prabhakara Rao said that people from different states prefer to settle down in Telangana looking at the development activities and there is also a godd business for the realtors and contruction industry as the entire India is looking at investment in the state of Telangana.
In a release, the TBF also said that the current revision of market value is a big blow to construction industry and real-estate industry as there was already a revision in the market values in six months ago. "The market of real-estate industry is going slow, Since 6 months as there is very slow process of sales due to Covid-19 pandemic situation and also festival seasons particularly in the month of December and January which are inauspicious where people are sentimental in taking decisions and waiting for good days," the release adds.